Tirthankar Sundaram, Head of Deposits and Analytics, Treasury ALM at Axis Bank in India, has successfully completed the Certified Blockchain Product Manager (CBPM) program offered by 101 Blockchains, marking a significant step in integrating advanced technological understanding with traditional financial services expertise. This achievement underscores a growing trend within the global banking sector where seasoned professionals are actively seeking to master emerging technologies like blockchain to drive digital transformation and address complex financial challenges. Sundaram’s journey highlights the strategic imperative for financial institutions to cultivate in-house expertise in areas traditionally associated with FinTech startups, thereby future-proofing their operations and enhancing their competitive edge in an increasingly digitized economy.
The Evolving Landscape of Digital Banking and the Need for Blockchain Acumen
The financial services industry is in the midst of an unprecedented digital revolution. Driven by technological advancements, changing customer expectations, and regulatory shifts, banks worldwide are investing heavily in digital transformation initiatives. Blockchain technology, initially popularized by cryptocurrencies, has garnered significant attention for its potential to revolutionize various aspects of banking, including payments, trade finance, supply chain management, and asset tokenization. According to a report by PwC, 77% of financial institutions are either in the process of or are very interested in deploying blockchain technology. This widespread interest stems from blockchain’s inherent properties of transparency, immutability, security, and efficiency, which promise to streamline operations, reduce costs, and mitigate risks.
However, the adoption of blockchain within established financial institutions like Axis Bank is not without its challenges. One of the primary hurdles is the significant skills gap. Traditional banking professionals often lack the technical understanding of distributed ledger technologies, while blockchain specialists may not possess the deep domain knowledge of banking products, regulatory frameworks, and risk management. This gap necessitates the emergence of a new breed of professionals who can bridge the divide between technology and business strategy. The role of a Blockchain Product Manager is crucial in this context, requiring an individual to not only understand the technology but also to identify viable use cases, design blockchain-based solutions, and oversee their implementation within a complex organizational structure.
Axis Bank, one of India’s largest private sector banks, has been proactive in its digital journey. With a robust presence across retail, corporate, and international banking, the institution recognizes the strategic importance of leveraging cutting-edge technologies to enhance customer experience, optimize internal processes, and unlock new revenue streams. Sundaram’s decision to pursue the CBPM certification aligns perfectly with Axis Bank’s broader vision of fostering innovation and building a future-ready workforce capable of navigating the complexities of the digital financial ecosystem.
Tirthankar Sundaram’s Professional Trajectory and the Genesis of His Learning Journey
With over two decades of extensive professional experience spanning diverse areas of banking, including treasury, retail, and wholesale functions, Tirthankar Sundaram brings a wealth of knowledge to his current role as Head of Deposits and Analytics, Treasury ALM at Axis Bank. His responsibilities primarily involve analyzing the bank’s balance sheet from critical perspectives such as liquidity management, risk assessment, and funding efficiency. This role demands a profound understanding of financial markets, macroeconomic trends, and internal operational dynamics.
Sundaram’s curiosity about emerging technologies, particularly blockchain, grew out of a practical need to find innovative solutions for persistent balance sheet challenges. He observed that blockchain was a recurring topic in industry narratives, strategic discussions, and internal banking conversations. However, he recognized that a superficial understanding of the technology was insufficient. To truly leverage its potential, he needed to grasp not only the underlying mechanics of blockchain but also, crucially, how to translate its capabilities into tangible business applications within the complex financial landscape. This drive to move beyond the "hype" and delve into practical utility was the primary motivator for his enrollment in the Certified Blockchain Product Manager program.
His learning experience with 101 Blockchains was described as "productive," indicating that the platform effectively catered to his objective of gaining actionable knowledge. The emphasis on applying blockchain in relevant business contexts, rather than merely explaining the technology in isolation, resonated deeply with his professional requirements.
The Certified Blockchain Product Manager (CBPM) Program: A Deeper Dive
The Certified Blockchain Product Manager (CBPM) program by 101 Blockchains is designed to equip professionals with the strategic and practical skills necessary to lead blockchain initiatives. Unlike purely technical certifications, the CBPM focuses on the intersection of blockchain technology, product development, and business strategy. This holistic approach is critical for professionals operating in traditional financial institutions where the successful adoption of new technologies hinges on their alignment with existing business models and regulatory frameworks.
Key aspects of the program, as highlighted by Sundaram, include its structured content design. Rather than presenting blockchain as a standalone technological concept, the CBPM curriculum meticulously integrates it within the larger framework of product and ecosystem design within banking. This approach allows learners to understand how blockchain can serve as a foundational layer for innovative financial products and services. The program elucidates the interplay of various blockchain concepts such as smart contracts, governance models, and tokenization, demonstrating how these elements can be combined to craft viable solutions for real-world business problems.
The program’s focus on practical application is a distinguishing feature. For professionals like Sundaram, who are accustomed to data-driven decision-making and tangible outcomes, theoretical knowledge alone holds limited value. The CBPM program addresses this by incorporating hands-on projects that challenge participants to apply their learning to specific industry scenarios.
Bridging Theory and Practice: The Hands-on Project and Its Impact
Perhaps the most impactful component of the CBPM program for Tirthankar Sundaram was the hands-on project. This practical exercise required him to design a solution for a pressing real-world problem: SME supply chain financing in India. The project demanded not just theoretical understanding but also a practical roadmap for implementation, making it directly relevant to his professional goals and the challenges faced by the Indian financial sector.
Small and Medium Enterprises (SMEs) are the backbone of the Indian economy, contributing significantly to GDP and employment. However, they frequently encounter substantial challenges in accessing timely and affordable credit, particularly within the supply chain ecosystem. Traditional financing models often involve extensive paperwork, slow verification processes, and a lack of transparency, leading to high transaction costs and increased risk of fraud, such as double financing of invoices. This credit gap for SMEs is a persistent issue, with various reports indicating that a significant portion of their financing needs remain unmet. A 2019 report by the International Finance Corporation (IFC) estimated India’s MSME (Micro, Small, and Medium Enterprises) credit gap to be around $330 billion.
Sundaram’s project leveraged blockchain to address these issues head-on. His proposed model treated invoices as digital assets, effectively tokenizing them on a blockchain. This innovative approach offers several profound advantages:
- Enhanced Access to Credit: By digitizing and securing invoices on an immutable ledger, financial institutions gain greater visibility and trust in the underlying assets, making them more willing to extend credit to SMEs.
- Improved Capital Efficiency: The streamlined process reduces the time and cost associated with invoice verification and settlement, freeing up capital that can be deployed more efficiently.
- Reduced Risk of Double Financing: A blockchain-based system ensures that each invoice, once recorded, cannot be re-financed by multiple parties, significantly mitigating a common risk in supply chain finance.
Sundaram emphasized the importance of viewing such hands-on exercises as more than just academic requirements. His solution was designed not only to be theoretically sound but also to offer clear implementation pathways that could integrate seamlessly with existing market structures in India. This focus on practical, implementable value underscores the utility of the CBPM program in developing solutions that can truly impact the financial ecosystem.
Broader Professional Impact and Institutional Relevance
Beyond the specific project, the CBPM certification provided Sundaram with a comprehensive understanding of blockchain architecture, integration layers, and consensus mechanisms. Crucially, it taught him how to develop systems that can work harmoniously with existing infrastructure rather than necessitating a complete overhaul. This "interoperability-first" mindset is vital for large, established banks like Axis Bank, where wholesale replacement of legacy systems is often impractical and prohibitively expensive.
Another significant takeaway for Sundaram was the program’s balanced approach, which avoided dwelling excessively on technical complexities. Instead, it focused on enabling participants to explain intricate technical concepts to non-technical business stakeholders. This skill is invaluable in fostering blockchain adoption within financial institutions, as successful implementation often relies on securing buy-in from various departments, including risk, compliance, operations, and senior management, who may not possess a deep technological background. The ability to articulate the business value and operational benefits of blockchain in clear, concise language is a hallmark of an effective Blockchain Product Manager.
The certification program helped Sundaram transition his initial curiosity about blockchain into a clear, actionable understanding. He gained fluency in identifying appropriate use cases and formulating effective approaches for implementing blockchain technology within a banking context. This development positions him as a key internal resource for Axis Bank, capable of spearheading initiatives that harness blockchain for strategic advantage.
The Strategic Imperative for Financial Institutions
The experience of Tirthankar Sundaram serves as a compelling case study for the broader financial industry. As digital transformation continues to reshape banking, the demand for professionals who can navigate the complexities of emerging technologies like blockchain will only intensify. Institutions that invest in upskilling their existing workforce and attracting new talent with relevant expertise will be better positioned to innovate, optimize operations, and maintain competitiveness.
The global market for blockchain in the financial sector is projected to grow significantly. Reports from various market intelligence firms estimate the market size to reach tens of billions of dollars by the end of the decade, driven by increasing investment in distributed ledger technology (DLT) across payments, capital markets, and trade finance. This growth necessitates a corresponding increase in skilled professionals. Educational platforms like 101 Blockchains play a vital role in addressing this skills gap by offering specialized certifications that cater to the unique needs of the financial industry.
Furthermore, the emphasis on practical, hands-on learning within such programs ensures that certified professionals are not just theoretically aware but also practically capable of designing and implementing real-world solutions. This is particularly important in a sector as regulated and risk-averse as banking, where theoretical concepts must be rigorously tested and proven to be viable before widespread adoption.
Conclusion: A Blueprint for Future-Ready Banking Talent
Tirthankar Sundaram’s successful completion of the Certified Blockchain Product Manager program exemplifies the proactive approach required from seasoned banking professionals in the digital age. His journey from curiosity to practical application, culminating in a concrete solution for SME supply chain financing, underscores the transformative potential of targeted education in emerging technologies.
The CBPM certification is particularly recommended for individuals working at the nexus of finance, technology, and strategy. It provides a robust framework for converting abstract technological concepts into tangible business outcomes. For financial institutions, empowering their leaders with such certifications is not merely an investment in individual professional development but a strategic imperative for building a resilient, innovative, and future-ready workforce capable of leading the next wave of financial innovation. As the financial sector continues its relentless march towards digitalization, the ability to effectively integrate and manage technologies like blockchain will be a definitive differentiator for success.
