The globalization of economy and technology prominence has significantly overhauled industries worldwide, and prominently it has had a marked effect on the banking and payments industry as well, digitizing the systems for quick & error-free operations. However, beyond transactions, there is a greater concern that money possesses is its efficient management because when needed powering oneself with money backup is extremely important.

Today, where many leaders in Banking & Payments space have risen to help individuals or businesses with payment issues, Dipali Padia, President of Neokred also stands tall. Neokred is a company developing the technology that will enable the next generation of financial services to perform better. Neokred’s simple and robust Banking-as-a-Service APIs enable businesses to introduce new financial solutions in weeks rather than months. Let’s get to know more about Dipali and Neokred through the snippets of an exclusive interview with Women Entrepreneur magazine.

Shedding light on your early educational journey and prior industry experience, tell us about some of the important facets of your life and professional journey.

Being an Indian enables me to value & respect the very learning system right from my early childhood days  (from family) to educational institutions I was lucky to study at. I have been privileged to be around persevering parents (in their own professional lives) to mentors who have scaled their own respective professional journeys on beautiful inclines that I’m endeavoring to map and scale. Values such as ‘Integrity, commitment, dedication & flexibility’ amongst others are deeply instilled in me which I bring to the table here today. You know I always found it remarkably interesting to see all my mentors have one thing in common, as that has led me to be where I am today. Through this article, I wish to share the same with you~ ‘Grit & Determination’ coupled with People Management.

What are some key business lessons you learned through your prior industry experience which empower you as a business leader today?

I have five quick go-to lessons I use as my yardstick, which sustains my success, such as valuing relationships as a first core need, being a knowledge bank, being present, displaying transparency & clarity, and holding respect for one and all.

Introduce us to Neokred? Throw some light on the different responsibilities you shoulder as the President of Banking Alliance & Partnerships at the firm.

We deliver a customer-focused experience with comprehensive financial solutions to fulfill all financial requirements. My responsibilities directly get me to Banking Alliances & Partnerships which puts NeoKred at the very center of being a key part of their work environment to achieve their fiscal needs.

In your opinion what are some of the most critical challenges you encounter as a business leader? What steps do you undertake to overcome these roadblocks?

Misunderstanding due to comprehension skills rendered by language or with timelines for me is the present challenge I would like to see get alleviated. It’s truly simple. Heightened inter & intrapersonal skills. That’s what I do.

Tell us about the top three milestones you have achieved throughout your professional journey. What has been your mantra for success?

The foremost ‘Reputation Setting’ makes my performance a brand in itself. Following right after would be the pool of people I am now associated with as my professional family. It’s overwhelming to work with such a beautiful talent pool of positively creative minds. Finally, the third is an eye for successful endeavors & partnerships. My mantra for success is, ‘Observe & Respond’ and ‘Value action over words’.

How do you foresee the Indian insurance & banking landscape evolving in the years to come? Which industry trends will be the most impactful going forward?

 In my recent article on ‘How Banks are Collaborating with Fintech’s to Redefine India’s Financial Sector’ I have highlighted, ‘to make the economy stronger and generate more revenue it was crucial for the banks to redefine its proposition to India’s financial sector by collaborating with Fintech’s who with their expertise in the technology and strategy sector could open more avenues for them in customer acquisition and retention which can be B2B or B2B2C.

"My mantra for success is, ‘observe & respond’ and ‘value action over words"

The Indian insurance & banking landscape has been evolving over a period of years by outsourcing its technology to the Fintech which acts as a TSP but can also utilize its open development and Software-as-a- Service (SaaS) solutions to other third parties (prospective fintech) who can easily integrate and develop value-added solutions and features of the bank on its platforms and create more avenues for the banks in customer acquisition and cross-selling. By doing this bit, banks can tie-up with multiple Fintech at minimal cost against higher revenue. Fintech’s innovative solutions and go-to-market strategy help the bank to reach the untouched territory and also provide customer behavioural insights and data analysis to identify customer needs, context, and credit appetite, all in near real-time. According to me IoT, AI, and blockchain have increased the pace of change tenfold.

Dipali Padia, President, Neokred

Having had an extensive professional experience in banking and finance, Dipali a fintech expert has been enabling the next generation of financial services to perform better by utilizing its new financial technology solutions through Neokred.