Manoj Agrawal, Ravi Lalvani: What is the impact of the lockdown on your business?
Manoj Viswanathan: A little background first. Home First Finance is a 10-year-old company, and we are in the business of providing affordable housing finance. Our customers are salaried and self-employed, and they belong to the middle class and most of them are buying their first homes.
Covid has impacted our business and customers. However, our customers are quite resilient to disruptions like covid; they were confused during April and May, but from June onwards, most of them have gone back to their respective jobs or businesses and they are regularly paying their EMIs. We had low business in April-May, but from October onwards, we are expecting to reach 80% of the pre-covid levels. In the initial period, some of our customers have availed moratorium because their business and income got impacted. In September, 95% of our customers came back to us, and they said that they do not want to avail of the moratorium and wanted to pay their regular EMIs.
Mumbai, Delhi, and Pune were the hotspots of the pandemic, so these cities were most impacted. From a geographic perspective, there is a uniform demand from the rest of the cities. We mostly get business from the periphery areas of the cities because the central parts are expensive areas.
Have you launched any new products during this period?
Esta historia es de la edición November 2020 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 November 2020 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.
