Page 50 - Banking Finance June 2021

INTERVIEW

they already have a large database of users and all of their need to master the art of building the
users need financial products and services. competency for every employee. How do you
Platformification of banking is another important trend from start the process of having a self-motivated
a customer perspective, which would offer them access to individual who is inclined towards continuous
more credit and flexible payment options with ecommerce
learning?
players, or help protect their financial wellness in adverse
A: We are indeed fortunate to have many of our industry's
economic conditions.
brightest individuals as part of SunTec. Thanks to our people,
Finally, as banks look to reduce costs, automate, and simplify we've built an organization that prides itself as a leader in
their business in order to gain more efficiencies, the role of the relationship-based pricing and billing space globally.
bank branches will likely change post pandemic. One It's little wonder then when we had to go into a sudden
possibility is their transformation into 'experience centers', lockdown on account of the pandemic in March 2020, our
where a bank's customers can get to know and understand
people all over the world ably rose up to take the challenge
various products and services better.
of meeting all our customer and employee commitments.
We didn't lose a day, not even an hour, in adapting to the
Q: As a trendsetter, what are your Top 3 new circumstances, which was indeed unprecedented.
emerging trends in the Fintech space, which shall
From our side, we have worked hard to create a learning
further revolutionize the banking and financial culture at SunTec that directly links the process of
services industry competency building with professional and career goals and
A: The fintech space is uniquely positioned to complement aspirations of our employees. We have also taken care to
larger banks by serving the digitally native Generation Z, provide full organizational support in the form of systems,
which is also the youngest working population today. tools and processes that support their learning goals. Finally,
Younger people naturally gravitate towards fintech players we also ensure that people always have a chance to apply
on account of convenient and hassle-free banking experience their newly acquired skills and competencies in real life.
that traditional banks are still not able to offer.
Particularly in India, digital and mobile-first neo-banks will Q: Known for building a strong team, a people's
continue to gain more ground in 2021 as they are both cost- man yourself, what would be your advice to the
effective and faster than conventional banks, on account of new generation of entrepreneurs who are
better technology capabilities and more agile structures. actively participating in this disruption journey?
With banks keenly looking for new partners, the fintech A: As an entrepreneur, your first job is to only hire people
companies with mature products and technologies will make who complement your skills and competencies. Far too many
for natural targets - both for collaborations and technology first-generation entrepreneurs make the mistake of believing
licensing deals and, in some cases, even acquisitions. that only they have to solve all of their business problems.
On the contrary, hiring someone who is better equipped to
Q: You are a firm believer that organizations handle a specific function - sales, marketing, engineering or
finance - and then letting that new hire solve their function's
We are indeed fortunate to have many problems is the first step towards building a great team.
of our industry's brightest individuals Also, all young businesses undergo a major transition
checkpoint when the team size crosses a certain threshold,
as part of SunTec. Thanks to our and the founding team is no longer able to remember the
people, we've built an organization that names of all employees. Once the organization crosses this
checkpoint, entrepreneurs must pay closer attention to
prides itself as a leader in the effective propagation of their original organizational culture
relationship-based pricing and billing and value system among the new employees. This will
ensure that the entire organization is pulling together in the
space globally.
same direction.

50 | 2021 | JUNE | BANKING FINANCE