One of the biggest challenges I faced was realising that having a voice isn’t always welcomed: Shilpi Kapoor of Airtel Payments Bank

The world of marketing is a whirlwind—neither a science nor exactly an art and entirely unpredictable. It’s a field that demands both agility and foresight, where today’s winning formula could be tomorrow’s outdated strategy. It’s a constant balancing act—between data and intuition, creativity and commerce, tradition and disruption. Now, throw in the dynamism of fintech and digital banking, and you have a high-stakes arena that demands constant innovation, razor-sharp insights, and an ability to adapt. This is an industry built on trust, where a single misstep can send ripples through consumer confidence. Yet, in the thick of it all, Shilpi Kapoor, Chief Marketing Officer at Airtel Payments Bank has not just survived but thrived—navigating through diverse industries and emerging as a leader who understands both the art and the science of brand building.

Kapoor has had a career that reads like a crash course in adaptability. From crafting consumer connections at The Coca-Cola Company to steering the launch of Renault KWID, from building trust at American Express to leading digital transformation in fintech, she has donned multiple hats, each adding a new dimension to her expertise. But what truly makes her journey compelling is the perspective she brings—not just as a marketing leader but as a woman who has had to navigate the biases and expectations that often come with leadership in male-dominated spaces.

Though Women’s Day has come and gone, the conversations it sparks should not be confined to a single day of the year. The reality is that industries—especially marketing and fintech—are evolving, but the road to inclusivity is far from smooth. Women in leadership are still questioned differently, judged by different standards, and often find themselves in rooms where they have to fight a little harder to be heard. Kapoor, however, has done more than just make space for herself; she has actively challenged the status quo, built high-performing teams, and driven innovation in an industry that thrives on disruption.

In this candid interview, she takes us through the stepping stones of her career, the lessons she has learned from each industry she has worked in, and her views on everything from workplace biases to the future of financial marketing. She also shares her approach to leadership, the importance of mentorship, and why she believes women need to stop waiting for permission to take up space. 

Edited excerpts:

Can you briefly walk us through your stints at The Coca-Cola Company, Godfrey Phillips, Groupe Renault, American Express to your current position at Airtel Payments Bank? What takeaways/lessons did you draw from each place?

My career journey has been shaped by a series of diverse and enriching experiences across dynamic industries. From consumer goods to automotive, financial services to digital banking, each role has provided me with unique insights and invaluable lessons that have helped me grow both personally and professionally. In each role I've always strived to embrace challenges, innovate, and lead with purpose. As I reflect on my time at the Coca-Cola Company, I honed my skills in brand management and consumer marketing, learning the power of connecting with consumers through emotional and impactful campaigns. Moving to Godfrey Phillips, I gained valuable insights into the FMCG sector, focusing on product positioning and agility in a fast-paced market. Leading Groupe Renault’s marketing efforts, particularly the successful launch of the Renault KWID, taught me the importance of innovation and a deep understanding of local market dynamics.

At American Express, I focused on building customer trust and loyalty, emphasising the importance of clear communication and maintaining brand integrity in the financial sector. Today, at Airtel Payments Bank, I integrate these experiences as the Chief Marketing Officer, driving growth in the digital financial space by leveraging technology and consumer insights to enhance customer engagement. Each of these roles has reinforced my belief in continuous learning, innovation, and the power of resilience in the face of challenges.

Looking back, is there a piece of advice you wish you had received earlier in your career that would have made a significant difference?

Looking back, one piece of advice I truly wish someone had shared with me earlier in my career is to embrace challenges as opportunities. Throughout my journey I often encountered setbacks and detours that, in the moment, felt like obstacles. However, with time, I realised that each of those experiences was a chance to learn and grow, and that resilience is built through facing these challenges head-on.

The A&M industry is known for its fast pace and demanding nature. Do you think it has evolved in terms of being more inclusive and accommodating for women?

The Advertising and Marketing (A&M) industry has indeed made significant strides toward inclusivity and accommodation for women over the past decade. In India, we've witnessed a notable increase in female representation across various sectors, including A&M. However, challenges persist, particularly concerning workplace safety and cultural norms.

According to Ipsos' "The State of Digital Marketing in India 2024–25" report, digital media spending in India officially surpassed television spending in FY 2024. This shift highlights the growing importance of digital channels, offering new opportunities for women in the A&M industry to engage with diverse consumer bases. Additionally, a joint study by the Advertising Standards Council of India (ASCI) and the UN Women Unstereotype Alliance revealed that 48% of Indian consumers desire more inclusive representation in advertising, compared to 33% globally. Despite women comprising 65% of the public relations sector, they continue to face unconscious bias, limited mentorship, and pay disparities.

Conventionally, women in leadership have often faced biases—whether it's about decision-making styles or balancing work and life. Have you encountered any of these biases, and how have you navigated them?

One of the biggest challenges I faced early in my career was realising that having a voice isn’t always welcomed. Despite my efforts to contribute meaningfully, I often encountered resistance—especially when challenging the status quo or advocating for others. As a woman, there remains an unspoken expectation to stay in the background, which can limit leadership opportunities.

Additionally, the assumption that women must shoulder more responsibility in maintaining work-life balance can create added pressure. Navigating these biases required resilience and a commitment to breaking stereotypes. I focused on building credibility through results, seeking mentorship, and fostering inclusive environments where diverse perspectives are valued.

The fintech and digital payments industry is saturated with competitors, from traditional banks to disruptive startups. As a CMO, what are the key differentiators you focus on that help Airtel Payments Bank stand out in this crowded market?

Airtel Payments Bank distinguishes itself through a multifaceted approach that emphasises security, transparency, and customer-centric innovation.

• Enhanced security: The bank has introduced features like the 'Fraud Alarm' to help customers quickly report suspicious transactions and secure their accounts, addressing the rise in cyber fraud.

• Commitment to transparency: A 'Transparent Banking' section within the app ensures customers have easy access to crucial information, fostering trust and informed decision-making.

• Extensive reach: With over 500,000 banking points, Airtel Payments Bank provides services to both urban and rural populations, promoting financial inclusion.

• Technological innovation: Partnerships, such as with NPCI for expanding UPI services, position the bank at the forefront of digital payment advancements. 

Traditional advertising, such as TVCs and print, is gradually losing dominance to digital-first strategies. However, BFSI brands still rely on legacy media for credibility. How do you see the role of traditional advertising evolving in financial services marketing?

Traditional advertising still plays a key role in BFSI marketing, particularly in building credibility and trust—critical factors for financial services. While digital strategies are essential for reaching tech-savvy consumers, TVCs and print continue to resonate with broader audiences and reinforce brand stability. At Airtel Payments Bank, we see value in combining both approaches. Traditional media provides mass reach and reliability, while digital offers personalised engagement. The future lies in a hybrid model that leverages the strengths of both to reach diverse consumer segments effectively.

Consumers today expect hyper-personalised experiences, but there’s also a growing concern about data privacy and over-targeting. How do you strike the right balance between personalisation and respecting consumer privacy?

At Airtel Payments Bank, we prioritise a customer-first approach, which means delivering hyper-personalised experiences while ensuring that consumer privacy is never compromised. Personalisation is crucial for building meaningful connections, but we are mindful of how we use data. We adhere to the highest standards of data privacy, following strict compliance with regulations and being transparent with our customers about how their data is used.

The key is to use data responsibly—offering personalised experiences that enhance customer value without crossing the line into over-targeting or intrusiveness. By leveraging anonymised data and opting for consent-based models, we ensure that our customers’ privacy is respected while still delivering relevant offers and services. Balancing personalisation with privacy is a matter of trust, and at Airtel Payments Bank, we aim to build that trust every step of the way.

Unlike e-commerce or retail, where immediate purchases measure success, financial services marketing often focuses on long-term relationships. How do you measure the ROI of marketing campaigns when customer lifetime value is a key metric?

In digital banking measuring ROI of marketing campaigns is not just about immediate conversions but also about Customer engagement and retention, the campaign objective for digital banks is multifold where we measure activation rates, number of products used pre and post campaign and average transaction value of the customer.

The payments bank model is a very nuanced model and we are pioneering the cause of digital financial inclusion so our campaigns are also targeted towards educating rural customers and providing them access to the financial ecosystem and get them to open their bank accounts seamlessly .

As someone who leads high-performing teams, what’s your approach to leadership?

My approach to leadership is rooted in a balance of empowerment, strategic clarity and accountability. I believe that high performing teams thrive when they are trusted to take ownership of their work while being clearly aligned to the vision of the organisation. I encourage my team to take calculated risks and let them innovate and try new formats. I hold the team accountable to high standards while providing support and flexibility to succeed.

Throughout your journey, have there been any women mentors or role models who have influenced or inspired you? If so, how have they shaped your perspective?

Throughout my journey, I have drawn immense inspiration from women leaders like Indra Nooyi and Michelle Obama, whose resilience and visionary leadership have shaped my perspective on breaking barriers and overcoming challenges. Their ability to navigate adversity with strength and purpose has fueled my passion and drive. Beyond these global icons, I have been deeply influenced by the remarkable women in my own life—especially my mother. Her ability to balance a successful career with her role as a loving caregiver has been a guiding force in shaping my values. Her unwavering support and wisdom have instilled in me the confidence to pursue my aspirations fearlessly. These women, through their example and mentorship, have empowered me to push beyond my limits and embrace every challenge as an opportunity for growth.

Women in pop culture are often depicted as being always on the go. We rarely see them resting and just existing. How do you prioritise self-care and relaxation to unwind from the pressures of work?

To recharge from the demands of my professional life, I engage in activities that help me disconnect and gain fresh perspectives. Watching movies helps me immerse myself in new worlds and ideas, while long drives and trekking provide the perfect opportunity to reconnect with nature and clear my mind. These moments of relaxation are essential for maintaining my creative energy and reinforcing my commitment to a balanced life, where both my career and personal well-being can flourish in harmony.

Finally, if you could give one piece of advice to women stepping into the industry, what would it be?

For women entering the workforce I would say, ‘Own your voice and don’t be afraid to use it’. As women we are often conditioned to seek approvals or hesitate to challenge the status quo, but true growth happens when you speak up with confidence. Step into every room knowing your perspective matters, your insights are valuable and you deserve a seat on the table. Remember strength lies in authenticity and not perfection.