Village Financial Services (VFS) currently caters to over half a million borrowers across 22,000 villages through its 246 branches in 13 states. VFS is present in 13 states West Bengal, Tripura, Assam, Bihar, Jharkhand, Odisha, Sikkim, Madhya Pradesh, Uttarakhand, Chhattisgarh, Meghalaya, Haryana and Uttar Pradesh.
DIGITALIZATION, GOVERNANCE
One of the oldest NBFC-MFIs based in Kolkata, Village Financial Services is in the forefront of the financial inclusion movement in the country. Kuldip Maity, MD & CEO, explains: “We have been building our company on 3 strategic pillars – inclusion, governance and digitalization – to be leader in the microfinance industry. Of these 3 pillars, governance and digitalization are predicted on the strategy of inclusion.” During the pandemic, the MFI has focused more on servicing the existing customer base rather than new customer acquisition.
SWIFT TRANSITION
Going 360-degree digital is one of VFS’ important focus areas and need of the business. Kuldip claims: “Our IT team is working continuously to accomplish this milestone and even continued to implement the tech and digital initiatives in phases. In fact, it’s the digital technology, which helped our swift transition to work from home while continuing with our business operations amid this pandemic.”
To stay competitive in this digital era, VFS has developed a strong in-house team. consisting of skilled and talented members. It plans to gradually keep strengthening the tech team to redefine business processes in the changing environment.
IMPROVED ON-FIELD MOBILITY
Bu hikaye Banking Frontiers dergisinin September 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Banking Frontiers dergisinin September 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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.
