As India’s financial services sector undergoes a massive digital transformation, one technology leader is charting an unconventional path. Yogesh Jadhav, Group CTO at Choice International & Choice Techlab, is pioneering an approach that prioritizes problem-solving over mere system-building — and it’s paying dividends in a market hungry for innovative fintech solutions.
In an exclusive conversation, Jadhav revealed how Choice TechLab has grown from a 30-person startup in 2016 to a 250-strong technology powerhouse serving multiple verticals within the Choice Group, all while maintaining what he calls a “laboratory mindset” that encourages experimentation and user-centric design.
The Accidental Partnership
The story begins in 2012, when Jadhav, fresh from working in financial markets, connected with Choice Group leadership at a trade event in China. What started as exploratory discussions about expanding into new markets evolved into something far more strategic.
“Choice was primarily into financial services, but the entire management team consisted of chartered accountants — technology was quite remote for them,” Jadhav explains. “I brought technical knowledge to the table, and MD Kamal sir had a vision that all financial services would need to be technology-based going forward.”
That vision proved prescient. By 2016, as traditional branch-and-dealer networks still dominated the financial services landscape, Choice TechLab was formally established as a dedicated technology unit. Nine years later, the lab has become integral to Choice’s operations, handling everything from customer-facing applications to government sector projects.
Value Over Velocity
What sets Choice TechLab apart from typical corporate IT departments — or even standalone tech companies like Tata Consultancy Services — is its fundamental approach to technology development.
“We don’t just do requirement gathering and deliver systems,” Jadhav emphasizes. “We sit with business teams and brainstorm problem statements. We jointly work on solutions that ultimately deliver value to the organization.”
This philosophy extends to mandating that technology leads spend time in operations offices, understanding workflows firsthand before writing a single line of code. It’s an approach that has earned Choice TechLab recognition beyond the private sector — the team secured a pilot project with NITI Aayog focused on women’s empowerment specifically because of their ground-up methodology.
“They told us: ‘Don’t give us what you think needs to be built. Go on the ground, validate the problem statements, and ensure the solution is the right fit,'” Jadhav recalls. That validation-first approach has since become the team’s standard operating procedure.
AI: Controlled Innovation
While artificial intelligence dominates boardroom conversations across industries, Jadhav’s team is taking a measured approach to integration. Rather than rushing to implement the latest models, Choice TechLab established a closed-group system where senior technical staff test AI capabilities, identify value propositions, and assess compliance risks.
“We’re definitely not waiting for AI to prove itself — we want to be on the forefront,” Jadhav says. “But we’re doing it in a controlled manner because everyone is still exploring security vulnerabilities and potential attack vectors.”
The team has created specialized units focused on machine learning, working to embed AI in automation processes and security mechanisms. With cyber security compliance requirements from government agencies becoming increasingly stringent, Jadhav sees AI as an essential tool for managing the sheer volume of security incidents and data that Choice handles across its geographical footprint.
“It’s very hard for manpower alone to prioritize and take action on all the incidents we see,” he notes. “We’re working with vendors to build AI tools that help streamline those processes.”
The Future of Digital Investing
Looking ahead, Jadhav is bullish on the evolution of robo-advisory services, particularly as generative AI enables real-time, personalized financial guidance. He envisions a near future where investors interact with AI through video interfaces that can process information, understand context, and deliver customized recommendations on the fly.
“Previously, models processed information at a certain pace. Now with generative AI, we can consume and summarize vast amounts of data in a personalized manner in real time,” he explains. “When you combine that with video interaction capabilities and the way people consume content through reels and short-form videos, it’s going to be a game changer for how consumers plan their investment journeys.”
However, Jadhav is quick to emphasize the importance of “human in the loop” oversight, particularly for complex financial decisions. While AI can enhance capabilities, experienced professionals remain essential for enterprise-level systems and strategic guidance.
The Trust Factor in Rural Markets
One of Choice’s most significant challenges has been expanding technology adoption in tier-two and tier-three cities and rural areas. Unlike urban millennials comfortable with exploring new platforms, users in these markets remain cautious about digital financial services.
“Building trust purely through digital means is very hard in underserved areas,” Jadhav admits. “We use a hybrid model — a strong ground team that’s the face of the organization, empowered by strong tech platforms.”
This physical-plus-digital approach has proven essential for overcoming initial hesitation. Once trust is established, Jadhav notes, these users become powerful advocates who promote services organically within their communities.
The team has also worked to integrate emerging technologies like UPI-based mandates, account aggregators, and digital lending APIs specifically with rural accessibility in mind. By collaborating with vendors like Razorpay, Choice TechLab continuously evaluates which new technologies solve genuine problems rather than chasing innovation for its own sake.
A Generation of Informed Traders
Perhaps surprisingly, Jadhav is bearish on one traditional fintech segment: direct recommendation tools. He believes the next generation of Indian investors will favor platforms that empower learning and strategy-building over those that simply tell them what to do.
“The new generation is very keen on futures and options, but they want to do it in a better manner — not just burn money,” he observes. “They want tools that help them build their own strategies and monitor real-time data, even when they’re not actively at their desks.”
This shift toward self-directed, educated investing represents both a challenge and an opportunity for fintech companies. Those that can balance accessibility with depth, automation with education, are likely to capture the loyalty of India’s growing investor class.
As Choice TechLab continues expanding its footprint, Jadhav’s laboratory mindset remains the constant. By treating every project as an experiment, prioritizing user validation over executive intuition, and building trust through hybrid delivery models, the team has created a blueprint for technology-driven growth in India’s complex financial services market.
For entrepreneurs navigating similar waters, Jadhav’s advice is simple: discover your organization’s word-of-mouth factor — the element that makes current clients naturally recommend your services. “When you have organic publicity from clients, you’re on the right track,” he says. “Everything else is just amplification.”
