Why GenAI Works Best as a Partner, Not a Substitute

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As the financial sector continues to evolve, leading payments firms are approaching the generative AI, or GenAI, revolution with a mix of pragmatism and foresight.

Jagdish Kumar, chief technology officer (CTO) of global payments services firm Worldline, shared with MIT Sloan Management Review India how his organization is embracing GenAI.

“GenAI has not changed our strategic priorities,” Kumar said. “As a global leader in payments, our focus remains on delivering value to clients and partners by building products and features that solve real-world challenges and drive adoption through continuous feedback and improvement.”

He described GenAI as “a valuable tool to enhance and strengthen decision support systems, bringing speed and efficiency to data-driven analysis,”  adding that “we were always doing these things. GenAI is now part of our product and tech strategy, enabling us to meet our priorities.”

On whether he sees GenAI as an advantage or a disruptor, Kumar was candid: “It can be both, and companies can benefit either way if they plan and execute with care and precision. Businesses need a clear strategy to utilize GenAI, monitor both the benefits and risks, and maintain transparency, accountability, and ethics.”

Without clarity, he cautioned, “businesses may fail to define the scope or leverage they seek from GenAI.”

On the talent front, Kumar said the fundamentals of Worldline’s hiring strategy have not changed.

“Talent suggests an ability that, if developed, can lead to success. We’ve always assessed current skills and the ability to grow,” he said.

What has changed is the role of GenAI in development plans. “We’ve already integrated GenAI into individual development plans across teams and functions,” he said. “This investment in upskilling keeps our workforce future-ready, mitigates displacement risks, and reinforces transparency and accountability.”

For Kumar, GenAI initiatives, like any technology initiative, must always align with customer value and business outcomes.

“Otherwise, you risk consuming significant time and resources with heavy costs,” he said.

Before investing in GenAI, companies should clearly define the business outcomes they expect and track progress.

“You need to publish measurable results to stakeholders so they see the technology aiding their goals and gain confidence in its adoption,” he added.

Metrics to track, he said, should include revenue growth, cost reduction, productivity, efficiency, and customer satisfaction.

GenAI is also opening up new business opportunities. “It helps us understand clients better by analyzing buying behavior and decision criteria,” Kumar said. “We can then build a product pipeline informed by these insights and create offerings tailored to our target market.”

He noted that GenAI allows companies to “better define strategy by focusing on sector-specific, value-driven approaches.”

Fraud prevention is another area where GenAI is proving critical. “As a payments company, we carry the responsibility to identify and prevent fraudulent transactions,” he said. “GenAI helps build flexible, rule-based algorithms that monitor transactions, identify anomalies, and support risk-based decisions.”

Kumar said data readiness and governance are essential for scaling GenAI. “We operate in a regulated environment where compliance is a prerequisite,” he said.

Handling sensitive payment data demands encryption, retention as per guidelines, and secure disposal. “These practices put us in a strong position to ensure governance whenever we plan to use GenAI,” he said.

Responsible AI, he added, is embedded in how Worldline operates.

“Fundamentals for any business apply equally to technology initiatives,” he said. “As a trusted payments company, we help clients integrate our payments engine seamlessly while ensuring security, authentication, reporting, reconciliation, and fraud-risk management.”

Every initiative undergoes full compliance and information security checks before deployment. “We follow comprehensive QA and testing, and have robust monitoring and support regimes,” he said. “When we embed GenAI, it is always within the framework of our industry boundaries.”

Kumar’s view highlights a clear theme: GenAI isn’t a substitute for solid business fundamentals, but a way to enhance them.

“GenAI helps us do what we already do, only better,” he said.