27th September 2017: JBIMS had the pleasure of hosting Mr Ashish Desai, Senior Vice President, Head – Products & Payments and Mr Yogesh Bhise, Senior Vice President, Head – Idea Synergy from Aditya Birla Payments Bank. They were accompanied by Ms. Danielle Pereira, Assistant Manager HR, Aditya Birla Payments Bank for an interactive session on Fintech & Payments Industry.
Mr Desai began the session by explaining the rationale behind RBI introducing the payments bank licenses. He spoke about the importance of last mile banking wherein every citizen of India should have access to affordable banking services. He also stressed upon the significance of financial inclusion where having an active transactional bank account is crucial. He explained how payments bank can reach a wider audience and make a significant impact in the banking sector.
Taking the discussion forward, Mr Desai explained the reasons for the Aditya Birla Group to apply for a payments bank license. He described how Aditya Birla Payments Bank can use the existing teams and network of Idea Cellular to reach out to a huge customer base and increase the operations of the payments bank. The payments bank can also tap into the existing customers of Idea Cellular for cross selling and promoting the financial products from the NBFC arm of the Aditya Birla Group. Mr Desai highlighted the importance of using Big Data to provide a customized experience to the users of the bank. Aditya Birla Group will be targeting the traditional customers, digital customer and SMEs for its payments bank. Mr Desai spoke about the pilot project run by Idea Money in Gujarat where it launched its Retailer Assisted Model (RAM), which enabled retailers to assist customers to use Idea Money Wallet for bill payments, recharges and e-commerce.
The session ended with an interactive Q & A where the students asked questions about the industry and the views of the dignitaries about handling any disruptions that affect the industry. Mr Desai and Mr Bhise patiently answered all the queries of the students. Post the Q & A, Ms. Danielle Pereira shared her experience in the Aditya Birla Group and how she got an opportunity to work in Aditya Birla Payments Bank.