Building Success In Financial Services Space
Over the past decade, there has been a significant surge in the emergence of organizations dedicated to empowering individuals and communities by providing them with the necessary resources to enhance their financial well-being. These companies offer loans, financial literacy programs, and entrepreneurial support, enabling people to start businesses, pursue education, and achieve financial independence. This empowerment not only leads to personal growth and increased opportunities but also contributes to the development of stronger communities.
Among these impactful organizations, EZ Capital is trying to make a lasting impression in the financial services sector. Established a few years ago, it aims to provide access to affordable, reliable, and sustainable financial services.
At the helm of EZ Capital is Chairman Vijay Bhandari & CEO Rajesh Katoch CEO, whose leadership has been instrumental in shaping the company’s mission.
In a recent virtual meeting, we had the opportunity to delve into various unexplored aspects of the industry and uncover how EZ Capital is making a tangible difference at the grassroots level.
Business Connect: As one of the emerging players in the finance sector, EZ Capital has grabbed eyeballs across the MSME community. Please comment on its journey to the present date since its inception.
Vijay Bhandari: The journey of Exclusive Leasing & Finance Private Limited (EZ Capital) has been one of constant evolution. It encompasses reacting to feedback from existing clients as well as targeting new market opportunities to build sustainable, value- driven financial services.
It is important for people of working age to have access to a full suite of quality financial services, provided at affordable prices, in a convenient manner, and with dignity.
We strive to remove the barriers that exclude people from participating in the financial sector and using these services to improve their lives.
EZ Capital focuses on lending credit to low-income households residing in the Tier-2 and Tier-3 cities & Towns. Its provides construction loans and credit against property to the small and medium enterprises, or SMEs.
Business Connect: Kindly walk us through your journey that has been driven by innovation, agility and a start-up approach.
Vijay Bhandari: Digital transformation has been ‘the way to move ahead and stay relevant’ in the business world and, the resultant race for digital channel adoption and enhancements, while it has opened up numerous opportunities for every business leader, also brings along the inherent challenges of finding the right technology, which without overwhelming the end customer, seamlessly ensures adoption without disruptions.
Rajesh Katoch – We have partnered with TCS to bring significant Improvements and enhancements in every aspect of business. Connectors/ Channel partners will be able to on-board the customer using the mobile/ web- application. Users will be able to fetch the lead details available and Push the data back.
Business Connect: Please shine some light on your mission, vision and business goals.
Vijay Bhandari: The company aims to provide credit to low-income households in two- and three-tier cities to cater to the vast potential of borrowers in the underbanked space.
We are making efforts to make everyday financial services available to more of India’s population at a reasonable cost.
EZ Capital firmly believes that the underbanked emerging sectors are a vital part of the country’s economic growth engine. Through debt investments in them, the company is trying to fuel their progress and ensure access, growth, and prosperity for all.
Rajesh Katoch – With this mission, EZ Capital is working towards quicker and easier credit opportunities, especially for the disadvantaged sections, through easy “doorstep” documentation and fast processing, easy monthly installments using electronic clearing, easy loan insurance availability, and attractive interest rates. Besides, its cash flow-based transparent lending model strives to augment the confidence of emerging sectors in need of easy credit.
Business Connect: Kindly walk us through your diverse clientele. Also, mention your partnerships and alliances if you wish to highlight those in the draft.
Vijay Bhandari:EZ Capital caters to a range of customers – from retail and corporate. The company believes in the power of diversification, and works towards a range of areas in need of planned lending. The company offers loans to small- and medium- enterprises against properties in those remote regions where even banks fail to reach.
Rajesh Katoch – EZ Capital also alliances with top brands like Shivalik Bank, Capital Small Finance bank & Trucap Finance to achieve its objectives.
Business Connect: What flagship products or solutions are you proud to have launched in the market?
Vijay Bhandari: Flagship Product of EZ is Ishi Loan, which is mainly focused on Women Empowerment.
With women breaking the bulwark in gaining financial independence, EZ Capital starts by getting to know the customers and their financial needs. Caring for customers stands at the pinnacle of relationships for the team at EZ capital.
Rajesh Katoch – Women entrepreneurs can now secure quick and easy loans through easy documentation and processing, dedicated relationship management, value-added services and door-step documentation. With this, rural womenpreneurs need not fret!
Business Connect: Do you believe R&D is significant for the growth of EZ Capital? If yes, provide us with a brief of it.
Vijay Bhandari: Yes, R&D allows a company to stay ahead of its competition. Without an R&D program, a company may not survive on its own and may have to rely on other ways to innovate such as engaging in mergers and acquisitions (M&A) or partnerships. Through R&D, companies can design new products and improve their existing offerings.
some of the key advantages of R&D in the growth of a business:-
- We have a strong Product differentiation/unique selling point.
- It leads to higher Revenue growth
- We enhance our Brand Image
- We have a higher chance of Funding
- Cross-Industry Innovation and expansion of Business
Business Connect: What are the insights of the leadership team into technology and its incessant advancements?
Vijay Bhandari: Technology is changing the way organizations and their employees need to accomplish their work. Few insights of our leadership team as below:-
We can make our Business More Competitive.
- digital transactions, are making financial inclusion easier to achieve.
- Technology has made communicating with others easier than ever, which is important in today’s corporate environment where many organizations are still working from home and face-to-face interaction is nominal.
- With the use of technology in workplaces, organizations have been able to increase their productivity and efficiency at a rapid pace.
Rajesh Katoch – Processes that were once manual and time-consuming can now be achieved in a quick and efficient manner with digital tools, applications, and systems
Business Connect: How would you evaluate the impact scale of EZ Capital?
Vijay Bhandari: EZ Capital provides MSME loans to the underserved segment and are committed to bringing substantial positive change.
We are striving to ensure access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low-income groups at an affordable cost.”
Our goal is to also empower women by providing them with financial independence. We aim to provide them with access to capital, financial literacy, and entrepreneurship education.
Rajesh Katoch – We innovate solutions to support financially underbanked communities. Our aim is to support local enterprises that build sustainable, vibrant communities.
Business Connect: Does the leadership team in the organization believe in diversity and inclusion? If yes, how is it fostered here?
Vijay Bhandari: Yes, the leadership team in the organization believes in diversity and inclusion. We are like one big happy family and always growing.
We acknowledge a variety of upcoming religious and cultural activities. Everyone in the company — leadership and individual contributors alike — should practice transparency. Admit to your shortcomings and encourage others to do the same.
In EZ Capital, Employees feel they are valued, respected, fairly treated and empowered through inclusive business practices, inclusive organizational culture and inclusive leadership.
Rajesh Katoch – The COVID-19 pandemic exposed and exacerbated existing inequalities in our economies and societies. EZ Capital had increased his focus and action on diversity and inclusion in their workplaces not only financially but morally also.
Business Connect: What kind of work culture exists in your organization?
Vijay Bhandari: Our work culture promotes respect for individuals regardless of their background, encourages diversity, and creates an inclusive environment where everyone feels welcome and valued.
We have transparent and frequent communication channels, allowing employees to express their ideas, concerns, and feedback.
Employers recognize the importance of maintaining a healthy work-life balance for their employees and strive to provide flexible working arrangements and support well-being initiatives.
We encourage professional development, offering opportunities for employees to enhance their skills, learn new things, and grow both personally and professionally.
Rajesh Katoch – We recognize performance shouldered with integrity, dedication and perseverance. We believe that merit has no color, gender, caste or creed. We don’t limit our celebration to our office premises, but extend it to family and friends.
It is this spirit and culture of celebrating excellence that metamorphoses new entrants into leaders of tomorrow.
Business Connect: Please highlight the achievements and accolades attained by the company so far.
Vijay Bhandari: Within a short span of time we have more than tripled our direct lending. Our branches have grown from 2 to 15 in less than a year, and we are trying to open at least 2 branches every month, going forward.
EZ Capital is now also associated with Leading Small Finance banks & NBFCs as a partner to provide MSME loans to the underserved segment. We have also secured a term Loan from State Bank of India.
Business Connect: Please shine some light on the future endeavors of the company.
Vijay Bhandari: EZ Capital is looking to target more than 10 million prospective customers who are currently served neither by a commercial bank nor by a rural micro-finance institution (MFI).
A bigger focus is on the millennials who, with a family income between Rs 25,000 to Rs 1 lakh, have never taken a loan. These individuals don’t have much credit underwriting history attached to them.
Rajesh Katoch – EZ Capital is expanding in West & Central India and will introduce more products for MSME. A large number of these are concentrated in tier-2 and tier-3 towns.
Business Connect: Lastly, is there a message you would like to give to our readers?
Vijay Bhandari: EZ Capital stands for access, growth, and prosperity for all. We work toward empowering society by providing financial independence. We help to create a self-sustainable livelihood by providing easy and transparent access to finances quickly and easily.
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