Jalakshmi Financial Services, set up in Bengaluru in 2008 by former Citibank senior executive Ramesh Ramanathan and his wife Swati, was started with a simple mandate: To run a scalable business that provides small loans to low-income borrowers in urban India. With over 5 million customers currently, borrowing on average between Rs 15,000 and Rs 50,000, it has stayed the course.
What has helped is Janalakshmi’s awareness that technology would play a vital role. To that end, the non-banking financial company (NBFC) embraced technology early in its life, deploying, among other things, a core banking software in its commencing year. This provides software modules to run most parts of a bank’s operations.
More at: http://www.forbesindia.com/article/hidden-gems-2016/janalakshmi-financial-services-lets-get-physital/44271/1
What has helped is Janalakshmi’s awareness that technology would play a vital role. To that end, the non-banking financial company (NBFC) embraced technology early in its life, deploying, among other things, a core banking software in its commencing year. This provides software modules to run most parts of a bank’s operations.
More at: http://www.forbesindia.com/article/hidden-gems-2016/janalakshmi-financial-services-lets-get-physital/44271/1
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