In conversation with Avinash Godkhindi, Managing Director and CEO of Zaggle, we explore how India’s fintech landscape is evolving through the convergence of AI, compliance, and human-centered innovation.
In a fintech world where agility often outpaces accountability, Avinash Godkhindi offers a rare perspective grounded in balance. From launching Citibank’s Premier Miles credit card to taking Zaggle from a six-month-old startup to a profitable, publicly listed company, his career captures the evolution of India’s fintech story from disruptive innovation to sustainable governance.
“AI isn’t a threat, it’s a catalyst. It’s changing how we think, work, and build. The real challenge is learning how to learn.” ~ Avinash Godkhindi, CEO & MD, Zaggle
AI as an Accelerator, Not a Disruptor
For Godkhindi, artificial intelligence is not a threat but an amplifier. He sees AI’s “disruption” as positive, reordering traditional processes to create efficiency and imagination simultaneously.
“AI is a tool like the internet or electricity. It’s neither good nor bad. What matters is how responsibly we use it,” he explains.
At Zaggle, AI has become an integral part of experimentation and product design. Instead of waiting weeks for agencies to deliver design options, teams can now generate hundreds of interface prototypes in minutes using AI-driven platforms. “The speed at which you can test, iterate, and get feedback has transformed. It’s design thinking at scale,” he adds.
He’s also optimistic about the emergence of Agentic AI autonomous agents capable of performing tasks end-to-end without human intervention. These systems, he says, could redefine efficiency, creativity, and even customer interaction.
“AI will handle the mundane,” he notes. “But what will remain deeply human is empathy, ethics, and understanding. That’s what leaders and designers must preserve.”
The Convergence of Web3, AI, and Blockchain
Godkhindi foresees a powerful convergence of AI and Web3 technologies, especially as regulatory clarity improves. “In the U.S., stablecoins and blockchain-based frameworks are gaining legitimacy. Combine that with AI, and you’ll have systems that are not only faster but also self-auditing and self-learning,” he explains.
He envisions intelligent, traceable financial networks that can process payments securely while continuously improving through machine learning. “When you marry blockchain’s transparency with AI’s adaptability, you get trust that scales.”
For India, the next wave of innovation, he believes, lies in the globalization of cross-border payments and UPI. “UPI will go truly global,” he predicts, pointing to early adoption in countries like Qatar and the UAE.
Compliance as a Competitive Advantage
While many fintech leaders see compliance as a hurdle, Godkhindi sees it as the foundation of trust. “Innovation and compliance are two sides of the same coin,” he says. “You can’t have one without the other.”
He calls it the 51–49 principle, a delicate balance where compliance takes a slight edge over innovation. “A product that ignores compliance will collapse, and an organization obsessed with rules but blind to customer needs will stagnate. The art lies in innovating within guardrails.”
For Zaggle, this philosophy has ensured long-term credibility and investor confidence. “Our focus has always been on creating solutions that last, not just trends that fade,” he adds.
Human-Centric Design in the Age of AI
Amid the race to automate, Godkhindi warns against losing the human touch. He draws from the principles of design thinking, pioneered by IDEO and Stanford, where the user, not the technology, is the starting point.
“When we ignore human experience, technology becomes intrusive,” he says. “Chatbots that frustrate customers, repetitive prompts, or irrelevant AI recommendations all of these happen when you design for capability, not empathy.”
He reminds fintech players that “attention is the new currency”. Consumers, he says, will walk away from brands that disrespect their time or preferences. “Technology must serve people, not overwhelm them. The market will reject companies that forget that.”
IPO as a Milestone of Maturity
Zaggle’s IPO journey was a turning point, both a validation and a responsibility. “It’s like a marriage,” Godkhindi says with a smile. “It comes with joy and commitment but also accountability.”
He emphasizes that public listing should never be a branding exercise. “Companies must have a clear path to profitability before they go public,” he asserts. “At Zaggle, we were profit-after-tax positive for three years before our IPO and five years now.”
For him, the true success of an IPO lies not in the listing-day buzz, but in consistent delivery. “Performance must meet promise. That’s how you build trust with investors and with the market.”
Building Trust in India’s Fintech Future
Despite India’s leadership in digital payments, Godkhindi admits that cyber fraud remains a concern. He advocates simple yet effective consumer practices:
“Always transact through a secondary or prepaid account. Never expose your main savings account to UPI transactions,” he advises.
He believes India is in a “teenage phase” of fintech evolution, advanced in some aspects like UPI, yet still developing in others like data privacy, centralized KYC, and cross-border integration. As digital infrastructure matures, he predicts a natural decline in fraud and friction.
A Learner’s Mindset in a Transforming World
For a CEO leading a company at the forefront of fintech innovation, Godkhindi remains a lifelong learner. He’s currently pursuing a Chief AI Officer certification from Cornell University, a step he calls essential to stay relevant.
“Leadership today isn’t about knowing everything,” he says. “It’s about staying curious enough to keep learning.”
He believes the next generation of fintech professionals must blend AI literacy, emotional intelligence, and design thinking. “Technology can automate reasoning. What it can’t replace is human judgment,” he concludes.