Tell us about your career journey, and what led you to become the COO of Hinduja Housing Finance.
I have had over 22 years of experience in consumer banking across multiple organisations with 5.5 years in GE and nine years in Citibank. During these years, I have handled diverse roles across strategy, credit, collections, etc. Each of these roles / stints endowed me with the experience needed to take on the mantle at Hinduja Housing Finance.
What major challenges have you faced in your career, and how did you overcome those?
I have taken on challenges and many of my stints have arisen out of the need to over-managing the crisis. While the texture of the challenges has been extremely diverse, a common need has been the ability to crystalise the challenges, have a clarity on the execution framework, inclusive stakeholder buy-in, execution focus and tracking of results. A personal trait which has helped me significantly is the high individual energy and the ability to energise teams to a common purpose. Effective communication and demonstration of empathy are other attributes that help in overcoming workplace challenges.
How does Hinduja Housing Finance differentiate itself from other housing finance companies in India?
As Hinduja Housing Finance continues to expand, we are committed to serve diverse segments in affordable housing, ensuring all aspiring homeowners can realise their dreams. Our strategic branch network expansion and location-centric sourcing models are pivotal in reaching new customers with no prior credit history. Embracing digitalisation, aligned with customer preferences, enhances our service delivery, ensuring a superior overall customer experience.
What trends are you currently seeing in the housing finance sector, and how is Hinduja Housing Finance adapting to those?
The home loans landscape in India is undergoing a transformation driven by technological advancements and innovative financial solutions. As owning a home remains one of the fundamental aspirations for the Indian families, there is scope to cater to their needs and challenges. Government initiatives like the Pradhan Mantri Awas Yojana (PMAY) are crucial in enhancing affordability and accessibility to housing. These factors collectively shape a transformative landscape for our industry. At Hinduja Housing Finance, we have started shifting towards digitisation by adopting digital platforms like sales app for digital onboarding of customers, collection app, UCIC, end-to-end ERP solution, sales app-ERP integration and electronic payment systems.
How, in your opinion, is digital transformation impacting the housing finance Industry?
In the housing finance industry, perceptions of technology are evolving steadily. Innovations like video KYC, video PD and e-signatures have significantly digitised once paper-intensive processes. As digital technologies increasingly define our business landscape, both established and emerging players are eager to adopt new technologies to enhance service offerings.
How does Hinduja Housing Finance ensure it meets the needs of its diverse customer base?
At Hinduja Housing Finance, our operational framework is designed to ensure efficiency, consistency and exceptional customer service across our operations. We employ centralised processing to maintain uniform underwriting standards with specialised expertise spanning different states. Our ‘hub and spoke’ model enables us to effectively reach the last mile of customers, ensuring accessibility and personalised service delivery. Utilising a location-based sourcing model, we have established a wide distribution network that enhances our market reach and responsiveness. To support continuous improvement, dedicated zonal training managers facilitate knowledge sharing and quick adoption of process changes across our workforce. We prioritise customer care by leveraging technology to provide excellent service and ensure transparency throughout the loan process. Standard Operating Procedures (SOPs) are rigorously implemented across all branches to maintain consistency and operational efficiency. Our commitment to top-class risk management techniques ensures robust protection of our assets and customer investments. Embracing digitalisation, we have streamlined the entire loan journey to enhance convenience and efficiency for our customers. All interactions are conducted through Hinduja Housing Finance’s employees, reinforcing ease of communication and transparency in every transaction.
Tell us about the innovative products or services that are in the pipeline to
enhance customer experience.
Our focus on innovation and efficiency is evident through several key initiatives aimed at enhancing our credit decision processes and operational capabilities. We are implementing a psychometric evaluation for credit decisions to improve underwriting for new-to-credit customers, ensuring robust risk assessment. The introduction of the ABB Module and account aggregator will streamline operations by eliminating manual interfaces, reducing unit time by 40 per cent, and significantly boosting productivity across our workflows. To enhance security and prevent fraud, we are deploying advanced technologies such as face matching algorithms for ID verification, digital address verification and integrated KYC/AML checks. Moving towards digital transformation, we are adopting e-documents for loan agreements and implementing a scanning process for OTD and credit file tracking, ensuring efficiency and accuracy. A new sanction condition system enables end-to-end tracking of sanction requirements, enhancing compliance and operational transparency. Additionally, the introduction of Unique Customer Identification Code (UCIC) and an onboarding scorecard will further streamline customer management processes and improve service delivery. Our commitment to innovation culminates in an enhanced customer service app, ensuring seamless interactions and satisfaction for our valued clients. These initiatives underscore our dedication to operational excellence, security and customer-centricity in financial services.
Your goals for Hinduja Housing Finance in the next five years?
Our strategic objectives for the upcoming period are ambitious and focussed on expanding our market presence and service capabilities. Firstly, we aim to increase our footprint by establishing 550 branches across our target regions. Concurrently, we are targetting an Assets Under Management (AUM) of 35,000 crore, which aligns with our goal of serving a customer base of three lakh. To achieve sustainable growth, we are committed to retain and enhance our existing talent pool while ensuring the maintenance of a high-quality portfolio with minimal delinquency. Additionally, our expansion plans include venturing into Approved Project Funding (APF) and construction finance, broadening our financial offerings. We aim to implement a branch profitability model to optimise operational efficiency across our network. Moreover, adopting an end-to-end digital processing system for pre-approved top loans underscores our dedication to enhance customer retention through streamlined services. These strategic initiatives underscore our commitment to growth, efficiency and customer-centricity in the coming period.
