Unlock the power of Convergence with iKredit360

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Curate impactful credit experiences
Composable Credit 360 technologies

With the boundaries of ecosystems blurring, there is a huge opportunity for banks, eCommerce players, and NBFIs to think beyond lending products and deliver an integrated experience across the credit ecosystem. iKredit360 is a comprehensive and composable technology platform that enables institutions to curate unique credit experiences to merchants, channels-partners, and end consumers. With its ability to converge multiple elements such as internal and external systems, financial products, credit lifecycle, and fintechs, iKredit360 empowers financial institutions to expand and extend their credit experiences to become the primary engagement point for their customers.

  • Convergence
  • Connections
  • Cloud
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We have a good mix of technology and domain skills, new and homegrown talent, professionals with experience as well as fresh graduates with newer vision... all united by a common purpose of accelerating the digital journeys of Banks and FIs.


In conversation with Rajesh.

  1. What does client centricity mean to you?


    In my opinion, client-centricity is keeping our Customer's customer at the center and deciding everything around that- both in letter and in spirit. To illustrate this point, if there is something that is right for my customer's customer, though it may be more expensive to me or the bank, as a true partner, we should go for it.

  2. What are the unique strengths you and your leadership team bring to digital transformations?


    Our leadership team is unique and diverse, and that is the strength of this team. We have a good mix of technology and domain skills, new and homegrown talent, professionals with experience as well as fresh graduates with newer vision... all united by a common purpose of accelerating the digital journey of Banks and FIs. More importantly, the team carries, and embodies, a "Can do" attitude.

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The shift from product thinking to ecosystem thinking is the most exciting development in the credit space...


In conversation with Harpreet.

  1. Credit is the new Core. Your comment.


    There is renewed focus and interest in the Lending Business globally, across ‘Consumer Assets’ if I may add, because that’s where the primary revenue opportunities are- it’s the money-generating side of banks/FIs. Traditionally, Lending functionalities and modules were packaged and sold along with Core Banking, and it was considered a massive transformation exercise for the FIs to implement a new Core or to change an existing one. With the advent of new-age platforms, no longer do FIs have to go for a complete Core transformation. Standalone lending solutions provide comprehensive coverage of all banking needs across the Assets platform and especially with a platform like iKredit360, which goes even further to curate niche and relevant solutions across products, channels, and enterprise verticals to change the paradigm of how we have visualised Banking transformations. Who needs a traditional Core when you can curate your credit requirements through iKredit360?

  2. You talk about shifting from product to ecosystem thinking. What does it mean to a bank or FI or NBFI?


    Over the last 18 months or so, the world in general, and consumer finance in particular has seen a considerable churn in the way they are operating- long-established traditional processes and way of working are no longer acceptable and are being removed to make way for faster, digital and straight-through processes- that economize on efforts and cost all across. One of the main influences of this approach has been to replace a traditional product focus approach with a more customer-centric one, leading to an eco-system based product proposition in which credit/lending/consumer finance gets intrinsically wedded to the ecosystem where the finance is being offered- so, a consumer finance proposition at a retail store X needs to differentiate itself from a consumer finance proposition at an e-com site Y, and still provide a superlative customer experience, and simultaneously be commercially viable for the FI. This is only possible if the FIs can raise the bar from being just product pushers to relevant ecosystem players. A great case study that comes to mind is Amazon, where I, as a consumer, can go and select a product, then a brand of my choice, and also avail a financing scheme suited to my needs, and my credit rating, all from the SAME PLATFORM - a perfect example of marrying POS Retail with Consumer Financing and Data Analytics!

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It's very important that one building block in a composable architecture is a self-complete black-box that provides well defined Open APIs...


In conversation with Viral.

  1. What is "composability" from an architecture design perspective?


    This architecture paradigm is all about the assembly of a solution by bringing together various independent building blocks. When you take the perspective of an enterprise or a bank, it is all about curating solutions and experiences from autonomous business components. Gartner calls these business components “Packaged Business Capabilities” or PBCs relevant for a business user. These components can be accessed from a vendor, or from the bank’s internal eco-system, or from a marketplace that the bank has access to. When you take the perspective of an application or one business component, it is about architecting it with a microservices architecture. It's very important that each building block in a composable architecture is a self-complete black box that provides a well-defined capability in terms of Open APIs and events for others to interact with it. This also highlights a need for a composition platform that rapidly enables this assembly and orchestration. Maximum scale and agility are only possible if you have these components deployed as containers on a Kubernetes service on elastic cloud, follow cloud-native principles, and be available as a service.

  2. Everyone talks about Microservices. You talk of Pre-packaged business components?


    There is a thin line between PBCs (Packaged Business Capabilities) and microservices. Architecturally they represent the same paradigm of composition. PBCs due to their enterprise context have a Go To Market focus, are granular enough to serve a business need that can be composed while designing an enterprise solution or composing a bank, and can be swapped easily with an alternative PBC from another source. Thus, they are apt for an independent GTM as a service on the cloud. Microservices are more relevant as application architecture and might not be practical for an independent GTM as it would increase the costs of integration and might make the change transformation unviable. Practically, one PBC will be architected as one or more microservices.

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…the primary driver for curation is to differentiate against comparable product offerings and deliver a superlative experience to their customers.


In conversation with Vivek.

  1. What is driving the market demand for curated credit 360 solutions?


    For banks and financial institutions, the primary driver for curation is to differentiate against comparable product offerings and deliver a superlative experience to their customers. On the other hand, of course, is the need to optimize investments and efforts to serve a certain segment or line of business. That the technologies and solutions align themselves to address these demands is imperative and therefore an obvious outcome.

  2. When you say "Convergence" or Beyond lending, what exactly do you mean?


    I would like to change the Question to cover a more important perspective- Why go beyond lending or your core business activity anyway? The answer lies in creating stickiness. Imagine a small business entity that relies on its bank's experience and personalized advisory services across a range of topics like digital marketing strategies, tips for automation, cash flow forecasting, or tax planning. Won't the bank find it easier to sell its core products and services to such a customer on the back of such engagements? Similarly, mortgage lenders who provide real estate advisory, documentation support, and home improvement planning are more likely to succeed in winning over and retaining customers over the long run. The value-added services may be non-core and sometimes even seem to be a distraction but go a long way in creating long-term profitable customer relationships.

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We have very nimble processes that work very well for cross functional, cross geographical teams...


In conversation with Akash.

  1. What is your delivery promise?


    We curate quality solutions for our clients with their end clients in mind. Our sole objective for every delivery is to achieve "Customer Happiness" and that is the single lens used by our delivery leaders for any decision during the implementation promise.

  2. 3 Things that you do differently from an agile delivery perspective.


    • First, we welcome change. Contrast this with almost every technology partner pushing back any change during the delivery process. Our delivery design is wired to embrace changes.
    • Most people talk agile but land up getting boxed in their process frameworks. It’s not that we are against processes. But we have very nimble processes that work very well for cross-functional, cross geographical team.
    • For the third, let me quote our client, a Challenger bank in the UK. 'It’s refreshing to see your entire approach designed with not you or me in the center but the end consumer.'
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LEVERAGE THE POWER OF CONNECTED ECOSYSTEMS TO REDEFINE THE CREDIT LANDSCAPE

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A perfect orchestration of Packaged Business Capabilities resonates in a symphony that will change the way you look at credit, Revolutionise the way you deliver it!

CURATED EXPERIENCES THAT ARE CATALYSED BY POWERFUL COMPOSABLE SOLUTIONS

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padmini-sharathkumar

Padmini Sharathkumar

Chief Marketing Officer
Global Consumer Banking

Expanding the BNPL viewpoint from payment to ecosystem

Financial institutions require a holistic solution to crack the fine art of balancing sticky experiences while spotting, and leveraging on, opportunities that bring in additional revenue.

Harpreet-Singh

Harpreet Singh

Business Head,
iKredit360

In every Ecosystem only the Smartest Survive

To thrive in the connected ecosystem of new-age age credit, the thinking must progress from transactions to experience. This credo is at the heart of iKredit360!

Viral-Khandwala

Viral Khandwala

Head - Manufacturing,
iKredit360

With Tech Harmony your credit experience moves from cacophony to a symphony

Go under the hood to explore the powerful engine is driving the experience ecosystem in Lending.

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Upcoming Webinar

Curate impactful credit experiences with iKredit360

04:00 PM IST, 20th October 2021

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Upcoming Webinar

Curate impactful credit experiences with iKredit360

04:00 PM IST, 27th October 2021

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Deep dive into the
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