UPI Switch bridges Flexibility and Scalability
Banking Frontiers|December 2024
Shailesh Pandey, Chief Operating Officer, Fino Payments Bank:
UPI Switch bridges Flexibility and Scalability

Shailesh Pandey reducing the burden on Fino Bank’s CBS by hollowing the core to accelerate development cycles, enhance scalability and improve cost-effectiveness

Ravi Lalwani: The BFSI sector is rapidly shifting toward more personalized and digital-first financial services. What specific advancements or strategic hanges does your organization plan to implement by 2025 to meet evolving market expectations? Are there particular markets where you aim to expand your presence or market share?

Shailesh Pandey: In line with our growth plans along with efforts to enhance customer engagement experience, Fino Bank is focused on strengthening its 3-pronged D-D-D approach, i.e. Data, Digital and Distribution.

Data is the new oil. As a transactions led entity, Fino has enormous customer transaction data. In FY24 we facilitated 2.11 billon transactions worth over `3.5 trillion! We deployed data analytics to analyze this data that helps gauge customer behavior and improve offerings, which further leads to increased engagement and long-term association. In addition, data also helps understand merchant behavior, which is critical in improving his / her productivity.

Technology is the backbone of Fino’s business model wherein its digitalization efforts bring banking closer to our customers through mobile first approach. We are strengthening our direct-to-customer (D2C) digital ecosystem by building digital assets and offering simple and easy to use products on FinoPay mobile app. For a rural-focused bank, it is remarkable that nearly 40% of our 12.6 million customer base is digitally active. We aim to expand the digitally active base further by engaging with newer segments of customers, ie those who are digitally savvy and belong to a higher-income population.

この記事は Banking Frontiers の December 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は Banking Frontiers の December 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

BANKING FRONTIERSのその他の記事すべて表示
Key Russian central bank official leaves
Banking Frontiers

Key Russian central bank official leaves

The First Deputy Governor of Bank of Russia Olga Skorobogatova is leaving the central bank in early December.

time-read
1 min  |
December 2024
Better prospects for Swiss banking in 2024, says new study
Banking Frontiers

Better prospects for Swiss banking in 2024, says new study

The year could see revitalization of the banking to some extent, finds the study by Swiss Bankers Association:

time-read
3 分  |
December 2024
Ease of use, personalization & consistent engagement promotes digital loyalty
Banking Frontiers

Ease of use, personalization & consistent engagement promotes digital loyalty

Murari Lal, Head - Digital Initiatives, Shivalik Small Finance Bank, delves into platforms, loyalty and Al:

time-read
4 分  |
December 2024
From Feet on Street to Fingers on Screen
Banking Frontiers

From Feet on Street to Fingers on Screen

Nippon India Mutual Fund is driving into newer customer segments by leveraging voice and vernacular as the drivers, reveals the company's Chief Digital Officer Arpanarghya Saha:

time-read
9 分  |
December 2024
Digitization embraces the senior citizens
Banking Frontiers

Digitization embraces the senior citizens

Among other projects, Shriram Capital completely transformed the 2-wheeler loan origination system, reveals the company's Chief Digital Officer Ajay Thomas:

time-read
8 分  |
December 2024
Making of the most connected bank in Bangladesh
Banking Frontiers

Making of the most connected bank in Bangladesh

A stream of digital initiatives is transforming Mutual Trust Bank and its customer engagement, reveals Khalid Hossin, who heads the bank's digital banking division:

time-read
7 分  |
December 2024
Digital embraces Archaeological Tourism
Banking Frontiers

Digital embraces Archaeological Tourism

Chief Digital Officers are leading tremendous transformation initiatives. Five CDOs reveal their fascinating journey and their ambitious goals:

time-read
4 分  |
December 2024
Tech will bridge Advisory and Education
Banking Frontiers

Tech will bridge Advisory and Education

Venkatesh Naidu, CEO, Bajaj Capital Insurance Broking:

time-read
5 分  |
December 2024
AI bridges Protection and Prevention
Banking Frontiers

AI bridges Protection and Prevention

Gyanendra Singh, Chief Technology Officer, Aviva India:

time-read
3 分  |
December 2024
Bridging Products & Distribution for Rural Markets
Banking Frontiers

Bridging Products & Distribution for Rural Markets

Vikas Mittal, Deputy CEO, and Amit Thapliyal, Chief Technology Officer, Magma HDI General Insurance:

time-read
4 分  |
December 2024