It is a new age NBFC with the DNA of a fintech:
Imagine a financial services company, which sees a highly compelling opportunity to deliver better outcomes for under served customers and businesses by leveraging digital technologies and data in combination with best-in-class execution and risk management! That is what APAC Financial Services, founded by Gunit Chadha, ex CEO of Deutsche Bank Asia Pacific, is all about.
The lean organization being built relies on the rapid innovations in digital technologies and data proliferation to generate superior outcomes in financial services. The man managing digital and technology is Sanjay Sharma, a 25-year veteran in banking technology, who is now chief digital & innovation officer at APAC Financial Services. Prior to APAC, he was heading technology and innovation functions at RBL Bank and IDBI Bank.
“The main thought that prevailed our decisions when we started conceptualizing a technology platform for us was that we are not a technology company and should not build a technology infrastructure from the ground zero. Instead we should leverage the existing technology partner ecosystem. This really worked well for us and we could roll out an entire lending system in about 8 weeks in collaboration with partners.” says Sharma.
DIGITAL DEPENDENCE
He says the underlying aim was to create a very lean organization relying heavily on technology. “When we began our journey, objective was to build a lean, asset lite, agile and cloud empowered technology platform which does not require upfront capital investment. Idea was not to overspend at the beginning but build an infrastructure that can scale up with our business growth. During the initial days, you don’t need a big team to manage technology and digital initiatives and so I just manage it with our partners and business user teams. You need to apply lean and partnership principles in everything you do!” explains Sharma.
Esta historia es de la edición October 2018 de Banking Frontiers.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición October 2018 de Banking Frontiers.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
It's a bank and a brokerage - FinecoBank
FinecoBank of Italy is a highly tech-enabled bank that is a combination of a bank and a brokerage:
A model for cloud adoption - Zurich Cantonal Bank
The bank is had opted for cloud to offer better service to its customers:
RBI Governor urges NBFCs to adhere to fair practices code
The Reserve Bank of India (RBI) Governor has urged Non-Banking Financial Companies (NBFCs) to strictly adhere to the Fair Practices Code, emphasizing sustainable growth and robust risk management in the sector.
Automated, Adaptive, Al-enabled Architecture is a must
Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:
Fraudsters too gain ground as real-time payment systems grow
There is a need for the technologies behind the real-time payment systems to gain a march over the methods of fraudsters:
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Even as AI is finding its place in the cyber security domain, an entirely new frontier of ethical challenges awaits.
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.
Fino sparkles with technology & brand upshift
Fino Payments Bank started operations in June 2017, providing banking services to mass market customers, who are largely rural-based.
Savington Upshifts: 48% Faster, Churn down 31%
Savington International Insurance Brokers LLC, founded in 2006 by Dev Maitra, is a prominent insurance provider in the UAE.
Zoroastrian Bank: Multiple awards for being the Best
Established in 1927 by Sir Hormusjee Cowasjee Dinshaw Adenwalla, Zoroastrian Bank is a prominent urban cooperative bank headquartered in Mumbai, India.
