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.
Denne historien er fra October 2018-utgaven av Banking Frontiers.
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Denne historien er fra October 2018-utgaven av Banking Frontiers.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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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:
