CEO Insights Magazine

Financial inclusion is crucial if India wants to progress further as a nation and acknowledging this fact Fincare Small Finance Bank was established in order to help the under served segment of the country through unique and innovative financial services. Incepted in 2017, Fincare Small Finance Bank operates with a vision to enable the financial inclusion of the unbanked and under banked base of the pyramid, mass retail and micro and small enterprise segments with the active participation of the affluent. And in order to cater to the varied requirements of their customers, Fincare Small Finance Bank has created a diversified offerings portfolio that includes savings account, current account, fixed deposits, recurring deposits, NRI Banking, loan against property,loan against gold, affordable housing loan, micro loans and institutional finance. Fincare Small Finance Bank combines their drive to serve the society with cutting edge technology to ensure that their services are easily accessible for the general mass. Apart from that, the company also aspires to educate their customers on digital banking and get them up to date with the changing banking trends.

Industry veteran Pankaj Gulati who holds the designation of Chief Marketing Officer & Chief Operating Officer- Corporate services at Fincare Small Finance Bank has been able to galvanize the employees of the company to give their best for the development of both Fincare Small Finance Bank and their customers. And his passion  for offering the best consistently has become one of the primary cornerstones in the company’s rise to success.

In an exclusive interview with CEO Insights, Pankaj talks more about his professional journey and how he has been able to develop into one of the most respected names in the industry.

Can you talk more about your educational and professional background?

I am a computer science graduate and after that I completed my MBA as well. I started my professional career in the financial services industry and throughout my journey, I was able to work on multiple levels and shoulder diverse roles in the industry which helped me to acquire a holistic view on the operations of the financial services domain. After that, I migrated to the life insurances industry and there also, I worked on multiple facets including HR, training, communication, marketing, product management, and customer service to name a few. During my 9-year stint in this industry, I even ventured off into entrepreneurship and I was able to be a part of some of the most intuitive and revolutionary products that has been launched in this segment.

When it comes to Fincare Small Finance Bank, I was one of the early hires of the company owing to that, I wore multiple hats. Even now, as a part of the core management team, I shoulder multiple responsibilities including communications, analyzing competition, market research, succession planning, creating an organizational culture, and developing business strategies for the company.

Can you explain your leadership style and what impact have you been able to make at Fincare Small Finance Bank?

I am more of a collaborative and democratic leader. Identifying the right people for a job, giving them astrong cause to work, and allowing them to flourish is my forte as a leader. So, you can say, I see myself as a catalyst that allow those around me to perform at their true potential.

As I mentioned before, I have been with the company from its initial days itself and we as an organization work with two parts of the society that includes, low income families and micro entrepreneurs to ensure their financial inclusion. At the same time, we are also working with tech-savvy customers in tier-1 cities as well. And for our business, I have been able to create strong and well-defined lines of communication and create a frame work on how we are going to deal with our customers. Most importantly, at Fincare Small Finance Bank, I have been trying to create a combination of commercial success that is backed by a social DNA.

Can you give us a brief overview on Fincare Small Finance Bank and its uniqueness?

We and other financial institutions like us are aiming to create a dent in the financial inclusion landscape of the country through our offerings. Even though, most of us offer similar services, what separates us from the rest is our digital capabilities that includes WhatsApp banking, multilingual call centers, QR code with instant credit, and the use of bots on our websites that helps our customers. We ensure that our services are consistent and apart from that, we are a very customer-centric business that prioritizes on improving their financial situation. So, in order to ensure all this, we go the extra mile to guarantee the best user experiences for our customers.

Also, for us, we have set a unique process where we differentiate the traits that we look for in our employees into two. The first one is leadership traits that include imagination, and having a digital mindset. Then, we  have excellence traits under which we have being hands-on and having a high degree of compliance accountability. The primary motive behind this process is to ensure that we inculcate leaders within the organization, who can rise to the occasion and take our company to the next level.

What is your success mantra?

I believe that success belongs to the team and failure belongs to the leader. For me, if a leader is able to guide and motivate his/her team in the right manner, then that team will be able to achieve that goal. I also believe that learning should be constant so that you can always remain on top of your game. So, even today, I lay major emphasis on being a hands-on leader .

What would be your advice to the next generation of professionals?

Believe in the cause of the institution that you are associated with and if that belief is not there, then find an organization that you can align yourself with. Also, identify that one competency that will help you to succeed in your life. More importantly, make sure that you are not so hard on yourself all the time, people make mistakes so be kinder to yourself.

Pankaj Gulati, CMO & COO - Corporate services, Fincare Small Finance Bank

This pioneering industry stalwart has nearly three decades of professional experience and as a constant learner, Pankaj has also taken various national and international certification courses to improve his knowledge on the various industries he has been a part of.