Ravi Lalwani: What were the most significant cost differentiations identified in terms of business, particularly during the pandemic?
Ridhi Gangar: The pandemic, despite being devastating and brutal, does have a silver lining. On the plus side, the cost to income, which is a critical parameter for NBFCs, improved as we implemented digital initiatives and invested in developing digital platforms. This helped us improve efficiency while allowing people to work from home. These implementations also substantially lowered the cost of infrastructure, travel, and other overhead expenses.
A significant step was having a very strong digital engagement process with all stakeholders. It wasn't enough to just have work done; keeping stakeholders bonded and engaged with the larger team was a strong action area as well. And digital platforms stepped in to save the day by making it more cost-effective. A series of large-scale and small-scale online meets were conducted on regular basis to ensure the same.
What upgrades have been made in the accounting and finance software considering the pandemic-related issues? Were these done in-house or with the aid of partners?
Denne historien er fra March 2022-utgaven av Banking Frontiers.
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Denne historien er fra March 2022-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.
Allerede abonnent? Logg på
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:
