What was the strategic thinking behind evolving MiFiX.ai from a blockchain based BFSI platform into an AI native enterprise platform?
New Street Tech was established with a vision – “To make it possible for every business in the world to leverage blockchain and other new age technologies to serve their stakeholders better and in more ways than before” with AI being amongst the new age technologies we listed even on our early websites.
It is this vision that our investors – all prominent industry figures globally and in India – backed. So, AI was always a part of the New Street story.
Having said that, our journey has never been about following technology cycles. It has always been about solving business problems. Blockchain helped us build trusted, auditable systems for highly regulated industries such as banking and financial services. More recently, as the wider world became ready to accept AI native solutions, we decided to reincarnate as MiFiX.ai
Today, MiFiX.ai carries the same DNA of the blockchain-based trust, immutability and auditability. Some of our advanced solutions on MiFiX.ai are being built combining the security of blockchain technology and the automation capability of AI.
Sajeev Viswanathan, Founder & CEO, MiFiX.ai (New Street Technologies)
Despite rising AI budgets, where are enterprises still losing the most value, use case selection, fragmented tools, or execution gaps?
Our own research shows that while more than 65% of Indian enterprises have initiated AI initiatives, fewer than 15% have deployed AI into production. This 15% is being narrowly deployed by enterprises in specific areas such as voice bots, software code development processes (coding assistance, limited quality testing etc.) using single purpose tools for a substantial cost. Larger platforms like ChatGPT and Claude or their unsecure derivatives are used by individuals in enterprises to automate research, analyse data, creating marketing content, analysing CVs of prospective employees etc. A lot of the AI spend in enterprises is therefore on such fragmented tools for diverse purposes. This is an expensive approach only helping enterprises in the short term to do more with existing resources. However, true enterprise AI intervention is yet to happen at scale, which is where exponential value creation is possible.
The next phase of AI evolution is a trustworthy Enterprise AI platform that can overcome the FITS issue – Fear, Inertia, Trust issues & Surpirse.
Such a model will run multiple processes reliably, governed by humans, compliant with regulations, and delivering measurable outcomes. Wholesale benefits will accrue to the organizations using such Enterprise AI solutions where Total Cost of Ownership (TCO) and Time to Market (TTM) will be exponentially enhanced.
What convinces compliance and risk teams to trust AI driven configuration models over legacy, hand coded systems?
Trust is built through architecture, not promises.
Regulated industries don’t need more AI. They need AI that is explainable, auditable and governed.
Our architecture deliberately separates AI from production execution. AI is used to design workflows and generate configurations, but every configuration passes through maker-checker approvals, governance controls and version management before deterministic execution engines run them in production.
Every decision is traceable. Every change is auditable.
Every deployment remains under human oversight.
That changes the conversation. Instead of asking whether AI can replace existing controls, organisations begin to see how AI can strengthen governance while significantly accelerating delivery.
What is a realistic timeframe for AI native deployment costs to pay off against long term operational savings?
Deploying AI for productivity gains is a continuous process. But a comprehensive ROI calculation for AI investments will not just measure productivity gains. While this remains important, they significantly underestimate AI’s ability to transform an enterprise. The real return lies in creating capacity, accelerating innovation and unlocking new sources of revenue.
This philosophy is at the heart of the MiFiX.ai enterprise AI platform. Designed for large enterprises, MiFiX.ai helps organisations solve complex, people-intensive business problems—from streamlining back-office operations and modernising legacy processes to dramatically reducing the time required to launch new products and customer experiences, all in a compliant way on bank-grade technology.
A compelling illustration comes from a large Indian public sector bank that deployed MiFiX.ai to automate its decades-old SWIFT reconciliation process. What was once a labour-intensive operation dependent on specialist teams became an intelligent, AI-driven workflow capable of reconciling transactions with speed, consistency and accuracy.
The impact extended well beyond operational efficiency. The bank realised a substantial reduction in operating costs (from a dedicated reconciliation team of 7 members, at least 3 people could be redeployed immediately, while the entire team could be made redundant within a period of 1 year), significantly lowered the value of unreconciled funds (fell by 95%), strengthened financial control and reduced operational risk. Experienced employees were redeployed from repetitive reconciliation activities to strategic, customer-facing initiatives. Most importantly, the institution gained the operational headroom to introduce new SWIFT-enabled remittance products, converting an operational improvement into a revenue-generating opportunity.
As enterprises scale their AI investments, success will increasingly be measured not by the number of models deployed, but by the measurable business outcomes they enable. The MiFiX.ai way is built on this principle: AI is not merely an automation technology—it is an enterprise value multiplier. When measured through that lens, the return on AI is no longer incremental; it becomes transformational.
Where do you see MiFiX.ai five years from now, in terms of the next phase of enterprise AI adoption you describe, where cost efficiency rather than raw AI capability becomes the differentiator?
Five years is a long time in the AI era. I would be lying if say that I know where MiFiX.ai will be then.
However, we have set ourselves a definitive path to move forward. MiFiX.ai is designed as the AI rails for an enterprise – easy to adopt, secure to the highest standards applicable to their industry and compliant with the regulatory frameworks of the jurisdictions they operate in.
In our next phase, MiFiX.ai will contain Domain Intelligence Models that will provide permissioned shared domain intelligence and optional interface with LLMs. One can research, conceptualize, design, develop, document and deploy production grade modules for specific processes or products.
In the following phases, MiFiX.ai will transform our clients into their AI Native Avatars. They will be able to connect with their customers and third parties through agent-to-agent interaction modules. They can operate 24X7 across all functions – sales, marketing, operations, compliance, cyber security, fraud control & vigilance. They will be, capable of adapting to and leveraging atmospheric changes in the AI world, proactively manage emerging AI risks and threats, and continuously deliver transformational value.
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