In an interview, Lalit Mehta, Co-Founder & CEO of Decimal Technologies, spoke with TimesTech about the evolution of digital transformation in the BFSI sector. Lalit shared insights on how Decimal’s low-code/no-code platform Vahana is reshaping banking operations, the significance of an API-first approach, and the company’s future roadmap focused on AI, global expansion, and fintech innovation.
Read the full interview here:
TimesTech: You founded Decimal Technologies back in 2009, well before digital transformation became mainstream in the BFSI sector. What inspired you to take that leap, and how has the landscape evolved since then?
Lalit: When we started Decimal Technologies in 2009, the BFSI sector was just beginning to recognize the potential of digital solutions. Our inspiration came from seeing the inefficiencies and manual processes that dominated banking and financial services at the time. We believed technology could democratize access, improve customer experiences, and drive operational excellence. Over the years, the landscape has evolved dramatically-from basic digitization to an era of intelligent automation, cloud-native platforms, and hyper-personalization. Today, digital transformation is not just a differentiator; it’s a necessity for survival and growth.
TimesTech: Decimal’s low-code/no-code platform, Vahana, is helping banks build and deploy end-to-end business solutions efficiently. Could you walk us through how Vahana is transforming traditional banking operations?
Lalit: Vahana empowers banks to rapidly design, build, and deploy business applications without deep coding expertise. By offering a drag-and-drop interface and pre-built components, Vahana accelerates the launch of new products, automates workflows, and ensures regulatory compliance with minimal IT intervention. This agility allows banks to respond to market changes faster, personalize customer journeys, and reduce operational costs. Traditional banking operations-once slow and siloed-are now streamlined, collaborative, and innovation-driven, thanks to Vahana.
TimesTech: With over 800+ pre-integrated APIs in your fintech marketplace, Decimal has built a powerful ecosystem. How crucial is this API-first approach in modernizing BFSI services, and what makes your offering stand out?
Lalit: An API-first approach is foundational to modern BFSI transformation. It enables seamless integration with fintech partners, core banking systems, and third-party service providers, fostering an open, collaborative ecosystem. Our marketplace of 1000+ pre-integrated APIs allows clients to quickly assemble and launch new digital services-whether it’s onboarding, KYC, payments, or lending-without lengthy development cycles. What sets us apart is not just the breadth of our APIs, but the depth of domain expertise, security, and scalability we bring to every integration.
TimesTech: You’ve worked with top financial institutions like Deutsche Bank, Kotak Mahindra Bank, and Yes Bank. Can you share a specific success story or use case that highlights Decimal’s impact?
Lalit: Among our various success stories – sharing one would be tough. But to answer your question, one standout example is our work with Kotak Mahindra Bank, where we implemented a digital onboarding solution using Vahana. The bank was able to reduce customer onboarding time from days to minutes, while ensuring compliance and enhancing customer experience. This project not only improved operational efficiency but also set a new benchmark for digital journeys in the Indian banking sector. Similar success stories with other leading institutions underscore our ability to deliver measurable business outcomes at scale.
TimesTech: As a serial entrepreneur, you’ve also ventured into identity and access management and education. How do these different ventures complement your vision, and what synergies, if any, do you see among them?
Lalit: Each venture addresses a critical pillar of digital transformation. Identity and access management is essential for secure, seamless digital experiences, while education empowers the next generation of tech leaders. The synergies lie in our commitment to building trust, enabling innovation, and democratizing technology. By connecting these dots, we’re able to offer holistic solutions that not only solve today’s challenges but also prepare organizations and individuals for the future.
TimesTech: Looking ahead, what innovations or strategic priorities are you most excited about for Decimal Technologies in the next 2–3 years?
Lalit: We’re excited about driving deeper AI integration into our platforms, expanding our low-code/no-code capabilities, and growing our API marketplace to cover emerging fintech domains. Strategic priorities include enhancing cross-border banking solutions, enabling hyper-personalized customer journeys, and forging new partnerships across the Middle East and Southeast Asia, as well as America. Our vision is to make digital transformation accessible, scalable, and impactful for every financial institution, regardless of size or geography.
