MUMBAI, September 26, 2018 /PRNewswire/ --
Mr. Ajay Bohora, Co-founder and MD of HDFC Credila Financial Services, addressed the delegates on the Potential Disruptive Model of the Financial Services Industry at the Bootcamp organized by Z Nation Lab in partnership with The Economic Times. It was a one-day program within The Economic Times Innovation Tribe 2018.
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Mr. Ajay Bohora presented that in the manufacturing industry, the assembly line driven specialized sub-tasks leverage the suppliers who can offer the best-in-the-class, disruptive and cutting-edge technologies for the assigned specific task. In these work flows, the supply chain, is typically spread out globally. Mr. Bohora articulated the vision wherein this distributed model, similar to the assembly line approach used by the manufacturing industry could work for the financial services industry as well.
He further stated, "In this approach, the work flow of the financial services industry can be broken into smaller tasks which can be performed/supplied by the specialized players who use the cutting edge disruptive technologies dynamically. The lender can just integrate these pieces/sachet of services offered by these globally competitive specialized players, which can bring in operational and cost efficiencies for the financial services industry, leading to the unique and enhanced customer experiences. This model can always provide the flexibility to the lender to reorient the supply chain sachets of sub tasks, which can be best offered by the specialized disruptive player in the given circumstances, for the given parameters."
Mr. Bohora further added that this work flow can open lots of doors of opportunities for the start-up eco-system which can keep introducing newer ways of getting the sub tasks of financial services done with memorable customer experience to keep pace with the disruptive changes which have been taking place across the world. "This has the potential to transform and reconfigure the financial services industry," he concluded.
Mr. Bohora also detailed out the India Stack and how it has created the unique digital architecture across India which can be effectively leveraged by the start-up eco-system to keep innovating to roll out numerous products and services to solve various problems of India. He shared how this could also add value to the consumers, not just in the financial services industry but across other sectors as well.
For more details visit: https://www.youtube.com/watch?v=rzyWk5oA0qg
About HDFC Credila Financial Services Private Limited (HDFC Credila)
HDFC Credila, India's First Dedicated Education Loan Company, pioneered the concept of specialist Education Loan lender and became India's First Dedicated Education Loan Company. With specialized focus, in-depth understanding of the requirements of students who wish to pursue higher education, HDFC Credila offers customized education loans home delivered. HDFC Credila funds students for higher education in both India and overseas. The customized loan solutions, unique benefits and quick processes have made HDFC Credila a trusted and preferred brand of thousands of students, studying across over 35 countries.
For more information, please visit http://hdfccredila.com/.
Media Contact:
Chandini Sehgal
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+91-9920780034
Head - Marketing & Channels
HDFC Credila Financial Services
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