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?
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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.
