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May 6, 2025
Devesh Maheshwari paused, shuffled his notes and then contemplated – it was a multiple choice question with no wrong answer.
But as CTO of Lendi Group – a digital platform powerhouse redefining financial services in Australia – the response actually mattered. The approach carried weight, the blueprint was ready to be replicated.
Which of these executive personas do you most closely self-identify as today… Innovator, Strategist or Moderniser?
“If you’d asked me that five years ago, I might have jumped straight to Innovator – it’s the natural impulse for anyone passionate about technology,” Maheshwari acknowledged.
“But today, I’d say I most closely identify as a Strategist – because that’s the persona that sits at the intersection of innovation and modernisation.”
In headlining Moxie Authority 2025, Maheshwari walked the tightrope between modernisation and innovation – balancing core business requirements with new ways to grow and differentiate. This was an analytical session with a twist, under the banner of Lights On? Light a Spark?
According to Moxie Research, Australian CIOs most closely self-identify as:
Strategists collaborate closely with the wider organisation to align IT strategies to key business objectives, mirroring the modern-day approach of technology leaders irrespective of company size, sector or stature.
“As a CTO, I’m constantly weighing the trade-offs,” Maheshwari expanded. “Do we push forward into uncharted territory, or do we double down on the fundamentals that make the business resilient?
“The Strategist is the one who holds both of those truths, mapping innovation back to business value and timing transformation so that it lands effectively, not just ambitiously.”
Based on Moxie Research, Strategists currently spend most time on the following activities:
“The Strategist is also the persona that gives the team room to be innovative, while ensuring our platforms, systems and data foundations are reliable enough to handle scale and complexity,” Maheshwari added. “It’s not as flashy as Innovator, perhaps – but it’s the role that turns ambition into impact.”
Commentary from Maheshwari struck at the heart of the age-old C-suite dilemma. Technology leaders are human, and what human doesn’t want to be considered as innovative and pioneering?
But sometimes that’s not the role to play.
How are the most authoritative executives in Australia navigating the mundane and the magnificent aspects of leading technology strategies?
“Yes, CIOs are fearful of being labelled as functions that simply ‘keep the lights on’,” Maheshwari agreed. “But honestly, for good reason.
“No one wants to be seen as the custodian of the past when we’re living in a world that demands constant reinvention. But here’s the nuance: ‘keeping the lights on’ has become far more complex than it sounds.”
In today’s digital enterprise, Maheshwari explained that doesn’t just mean maintaining uptime – it means protecting against cyber threats, ensuring data integrity, enabling hybrid work and managing platforms that are deeply embedded into the core of every function.
Such an approach is playing out in the numbers.
According to Moxie Research, Australian CIOs have placed increased priority on strengthening company cyber security defences during the next 6-12 months (71%), alongside improving operational efficiency and productivity (67%) while monetising and maximising company data (56%).
This is in addition to removing reliance on outdated or obsolete technology environments, as referenced by 52% of executives surveyed.
“That said, there is a very real tension,” Maheshwari stated. “If we only focus on stability and optimisation, we risk becoming invisible until something goes wrong.
“That’s why many CIOs and CTOs I speak with are repositioning themselves – not just as operators of infrastructure but as enablers of growth.
“They’re embedding themselves earlier in strategic conversations, translating business goals into technology roadmaps and making sure the foundations they’re building today are flexible enough to support tomorrow’s ideas.”
For 52% of Australian CIOs, that means creating a breeding ground for disruptive technologies with the aim of enhancing and enabling new product development (62%).
“So yes, there is a fear – but it’s also driving a shift,” Maheshwari said. “The best technology leaders are reframing what ‘keeping the lights on’ really means: it’s not a back-office function anymore, it’s a platform for possibility.”
Balancing modernisation with innovation
Aligned to the theme of Inspired Knowledge, Moxie Authority 2025 housed the most influential figures setting the market agenda in business and technology across Australia.
This inaugural and invite-only conference in Sydney hosted more than 400 industry front-runners spanning all ends of the ecosystem, from CIOs, CTOs and CISOs to CDOs, CEOs and Founders.
A key sub-theme centred on how to pragmatically balance modernisation with innovation, two diametrically opposed mandates that continue to pull at the corporate purse strings.
For example, 78% of technology leaders will accelerate the journey to technology modernisation during the next 6-12 months. In parallel, 63% will also drive company-wide innovation and transformation.
“It’s not an either-or anymore – it’s a continuum,” Maheshwari said.
“Modernisation lays the foundation for sustainable innovation. If we skip that and rush into shiny tech, we end up with fragmentation, tech debt and systems that can’t scale. So for us, it starts with ruthless clarity on the ‘why’ – we modernise so we can innovate with velocity and confidence.”
According to Moxie Research, the Moderniser checklist by order of priority in 2025 is to:
Alternatively, the Innovator checklist by order of priority in 2025 is to:
“What that looks like in practice is running in two modes – what I often call the ‘two-speed tech strategy’,” Maheshwari outlined.
“One part of the organisation is focused on modernising core systems – cloud migration, improving data flows, uplifting cyber posture – while another is experimenting with AI, edge or customer experience innovation in controlled environments.
“The magic happens when those two streams talk to each other. We embed innovation teams alongside core platform teams, so we’re not building cool stuff in isolation – we’re making sure it can land on a foundation that’s ready.”
At Lendi Group, Maheshwari also places strong emphasis on governance and measurement. In other words, if an innovation can’t be measured against business value or operational uplift, it’s just noise.
“Innovation has to be accountable, not just aspirational,” he clarified.
For Maheshwari, the question of modernisation vs. innovation can best be tackled by zoning in on a selection of key themes:
For many technology leaders however, the challenge is centred around knowing what levers to pull and when in terms of modernisation and innovation.
Is now the time to build the foundations? Or should we put the pedal to the metal?
“It really comes down to context,” Maheshwari said. “Every lever – whether it’s modernising core platforms or launching something net-new – should be pulled based on three signals: business urgency, tech readiness and customer impact.”
For example, Maheshwari highlighted that if the business is experiencing friction in core processes, rising operational costs or increased risk exposure, that’s a clear trigger for modernisation.
On the other hand, if an organisation has a stable core but sees a market opportunity – or internal capability – where the company can leap ahead, then innovation becomes the lever to pull.
“Timing is everything,” he advised. “We map our tech strategy against business strategy, product roadmaps and market signals.
“Sometimes that means pausing an innovative initiative to stabilise a system we’re relying on. Other times, it means introducing innovation as a catalyst for modernisation – say, implementing AI to reimagine a legacy workflow. The key is to treat both as levers, not labels – they’re tools in a kit, not identities.”
Maheshwari also cautioned against underestimating the power of frontline insight from engineers, product leads and customer teams.
“They often know before the dashboards do when a system is creaking or when an opportunity is emerging,” he said. “Building feedback loops from the ground up helps us pull the right lever with more precision.”
As shared by Maheshwari, this approach helps position technology leaders as an executive that:
Focus on rhythm and melody
Maheshwari is an accomplished technology leader with 19 years of extensive experience spanning multiple industries, including telecommunications, wagering, consulting, banking, payments and fintech. This is in addition to advising emerging AI start-ups, leveraging his expertise to drive innovation and strategic growth.
Before leading Technology at Lendi Group, previous roles included senior positions at DataMesh Group and over four years as Head of Technology at Tyro Payments, where he drove critical advancements in banking and payments.
With expertise spanning Australia, India and the UK, Maheshwari has successfully led diverse technology teams across architecture, digital applications, integration, data analytics and project management. Proficiency extends to managing complex IT projects, outsourcing relationships, encompassing infrastructure, cyber security and end-user computing.
“My advice?” Maheshwari asked. “Don’t treat modernisation and innovation as opposing forces – treat them as rhythm and melody.
“Modernisation is the rhythm that keeps the business moving in time. Innovation is the melody that helps us leap ahead. You need both for long-term harmony.”
In practice, Maheshwari advised to start by anchoring every decision in business value and strategic timing.
“Second, build an organisation that can hold both mindsets,” Maheshwari expanded.
“Your teams should feel safe to challenge the status quo – but also proud to improve the fundamentals. Culture is the multiplier here. If your engineers see modernisation as exciting, and innovation as accountable, you’re in a powerful place.”
As referenced by Moxie Research, 66% of Australian CIOs are prioritising the development of a high-performing IT talent and culture to fuel both modernisation and innovation agendas.
“Lastly, don’t go it alone,” Maheshwari recommended.
“Partner more deeply with the business. The days of IT as a service function are over. We’re growth enablers, co-designers of strategy and stewards of long-term value. So collaborate, co-create and bring your teams into the conversation early. That’s how you turn the dilemma into a differentiator.”
In conclusion, Maheshwari summarised that leadership in technology isn’t about choosing sides – it’s about building bridges.
“You don’t have to choose between fixing the engine and building the wings,” Maheshwari shared. “The best leaders know how to do both – at the right altitude.”
Moxie Authority 2025 housed the most influential figures redefining business and technology across Australia. This inaugural and invite-only conference in Sydney hosted more than 400 industry front-runners spanning all ends of the ecosystem, from CEOs, CIOs and CTOs to CDOs, CISOs and Founders.
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