Ishan Bose: Architecting Profitable Growth in Fintech – Insights from GtFt Dubai 2023
In the dynamic landscape of Fintech, few figures embody the spirit of innovation and strategic thinking as vividly as Ishan Bose, the Chief Marketing Officer at KreditBee. His recent LinkedIn post reflects on a pivotal moment in 2023 when he had the honor of representing the Indian Fintech ecosystem at Google’s prestigious finance event, GtFt Dubai 2023. Ishan Bose shares insights into the four pillars of profitable growth for a fintech lending entity, offering a glimpse into the nuanced strategies that have contributed to building India’s largest fintech lending platform for professionals.
Ishan Bose takes us into the heart of his experience at GtFt Dubai 2023, where he had the privilege of not just attending but representing the Indian Fintech ecosystem. The pride in the achievement resonates through his words, and it sets the stage for a discourse on the critical elements that define successful growth in the fintech lending space.
Unique and Relatable Product Offering: The first pillar highlighted by Ishan Bose revolves around identifying a product that not only addresses the core financial needs of consumers but does so in a unique and relatable way. He underscores the importance of understanding that the reasons behind an individual’s initial engagement with a fintech platform might differ from subsequent interactions. For KreditBee, the key lies in being a seamless, no-nonsense solution that precisely addresses users’ problems in a timely and transparent manner. The keyword here is “retention,” emphasizing the enduring connection between users and the platform.
Smart Underwriting: Ishan Bose delves into the significance of smart underwriting as the second pillar. He narrates the journey of KreditBee’s model testing on a smaller user set for a shorter tenure, enabling quicker feedback and more effective learning. The art lies in knowing whom to lend to, coupled with strategic efforts in collecting funds post-lending. Leveraging alternative data points unrelated to credit behavior enhances their ability to proactively calculate credit scores, a key element in navigating the complexities of the lending landscape.
Sustainable Debt Pipeline: The third pillar, as highlighted by Ishan Bose, centers around creating a sustainable debt pipeline. In simple terms, to lend more, you need access to more funds. KreditBee’s approach involves not just selecting like-minded partners but also customizing offerings to them, aligning both on product and business finance perspectives. The success story of their in-house NBFC (KB NBFC), achieving an A-category rating from CRISIL (A-), exemplifies the credibility they’ve established in debt-raising markets. The keyword here is “sustainable,” emphasizing a long-term and resilient approach to funding.
Staying Compliant: The fourth and final pillar revolves around compliance. Ishan Bose emphasizes that to succeed in the fintech marathon, shortcuts must be avoided. Staying informed and interpreting regulations comprehensively forms the bedrock of building a sustainable business. Accurate and timely reporting, coupled with internal audits, further strengthens the foundation. The regulator is positioned as an ally, working towards a shared goal of building an ecosystem that withstands the test of time. The keyword here is “compliant,” underscoring the importance of operating within the regulatory framework to ensure long-term viability.
In weaving these pillars together, Ishan Bose provides a blueprint for sustainable growth in fintech, emphasizing the need for a holistic and strategic approach. The narrative not only reflects on past achievements but sets the tone for the future. Ishan Bose’s journey exemplifies the symbiotic relationship between innovation, strategic thinking, and an unwavering commitment to ethical and sustainable practices in the fintech space. As he continues to steer KreditBee towards new heights, his insights serve as a guiding light for the industry, showcasing that true success in fintech isn’t just about lending money but about architecting a financial ecosystem that stands the test of time.
