Leading SMEs of India 2020

Experts' View Leading SMEs of India 2020 E - 25 Sub-K is a Fintech company that offers affordable, accessible, and scalable financial and payment services to BoP segment. Incorporated in 2010 as a micro-payments and digital financial services entity, Sub-K bridges the financial divide between banks and other financial institutions and underbanked population by effectively leveraging technology and local entrepreneurship. Sub-K’s innovation lies in offering diversified financial services through digital solutions coupled with last mile connectivity. Over the years Sub-K has diversified its business lines to include Credit, Insurance, Investment and Payment solutions. Sub-K has shown great Agility whenever required to cater changing needs of the market. In matter of weeks, COVID -19 has forced radical changes in customer behaviour, moving significant portions of the economy online and increasing customers’ comfort and willingness to engage digitally. This phenomenon was not only restricted to Cities but also it penetrated to rural areas of India. It has also proven the case and exposed the urgency for organizations to transform and mature digitally. Sub-K was quick to respond to this changing needs of themarket. Sub-K rolled out a digital financial platform at a quick pace. New product introduction became a cake walk. Within weeks, Sub-K introduced Digital Collections to enable customers to pay their EMIs from home. Sub-K also kept a keen eye on dynamics of changing market and was quick to introduce other products like Gold Loan and Insurance, diverging from its traditional business model. All this required great agility and innovation in business strategy. However along with business to understand the changing needs of Market, technology team that acts as a backbone to all functions at Sub-K required shift in focus. Sub-K started its cloud adoption journey in 2019, however with COVID-19, this journey progressed at an accelerated pace. AWS was instrumental in helping Sub-K with the same. While collaborating with AWS, Sub-K technology team could focus more on core capabilities and less on IT infrastructure and Operations. The main advantage that Sub-K found while partnering with AWS was the ability to fail fast and the cost of failure was extremely low when compared with the traditional way of IT Operations. To achieve the same, AWS help Sub-Kwith Reference Architecture, Operational Guidelines, Technical Sessions, and Hands-on Workshop. Overall, it hasbeenagreat transformation journey for Sub-K on its way to becoming a Fintech from a banking correspondent while still not digressing from its goal of catering to underserved sections of the society. Jaykishan Mandani AVP – Digital Transformation Sub-K IMPACT Solutions Ltd Dun & Bradstreet