Head of Department, FCA Innovate
Financial Conduct Authority
Ravi Bhalla is Head of Department for Innovate within the FCA, where he is leading the FCA’s market innovation services including Regulatory Sandbox, Advice Unit and Direct Support functions, as well as the FCA’s engagement with domestic and international FinTech ecosystems and digital policy. He is a high- impact enterprise-level senior leader with over 16 years of management experience across telecoms, insurance and financial services in both industry (BT, AIG, Barclays, HSBC and Lloyds Banking Group) and consulting (KPMG). Ravi was previously Head of Group Design, Strategy & Transformation for Lloyds Banking Group where he led an in-house strategy and transformation consulting function at Lloyds Banking Group. This has included shaping strategic initiatives such as customer vulnerability, architectural simplification, advanced analytics, cloud operating model design, regulatory change design and operational resilience. During his time at KPMG, Ravi worked with a number of challenger banks and FinTechs and played a pivotal role in establishing KPMG’s FinTech practice. Ravi has received a number of awards, including the Barclays Gold Experience Award, the Lloyds Banking Group Leadership: Inspire Delivery Award and the Lloyds Banking Group Leadership: Inspire Collaboration Award. He was selected for the Lloyds Banking Group executive leadership talent programme, which is for colleagues who demonstrate the attributes and potential to attain an executive-level position. Ravi holds a BSc (Hons) in Business Management from the University of East Anglia and an MA in Management, Economics and International Relations from the University of St. Andrews. Ravi has published a number of articles in internationally peer reviewed journals, including most recently a co-authored paper with University of Cambridge, Judge Business School Fellow, Elisabetta Osta entitled ‘Digital Transformation and the Covid challenge, (March 2021) Journal of Digital Banking as well as individual publications ‘FinTech Innovation: Revolutionary or Evolutionary Business Model Disruption?’ (2019), Journal of Digital Banking; ‘The 12 Point Customer Engagement Model’ (2013), Journal of Brand Strategy; ‘Omnichannel: Driving Engagement through Digitization’ (2014), Journal of Digital Banking.
The Alan Turing Institute, in collaboration with the Financial Conduct Authority, has thoroughly examined the benefits and challenges raised by the use of AI in financial services and the role...