Babu Nair: How has your lending business evolved in the last few months? What changes have come during last 1 year?
Rachit Chawla: Financial services sector is getting evolved every single day. The sector will grow in India transforming the country into the next Singapore. Singapore has adapted various new technologies in the financial services sector as it is a very important sector where people need to focus to create wealth and financial stability. So, the sector is trying to adapt the digital economy vision, executing it at the ground level and mitigating the gaps. However, even with so many flaws and issues, this sector is continuously evolving in order to solve problems. And Finway FSC is among the first set of players during the pandemic to launch a digital platform. A new mobile app called FLAP, which stands for Family Loan Assist for Partners, has been launched and agents have been trained on ways of assisting the customers to provide end-to-end support.
What is the USP that has helped financial businesses in these tough times?
The first and the foremost USP would be omnichannel. In Finway, we provide both types of lending; physical and digital. And our focus is to maintain a proper balance between both the types.
What are the futuristic tools that can be a possibility in this kind of business?
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Esta historia es de la edición July 2021 de Banking Frontiers.
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Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap:
