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Technology Should Enable The Domain

Domain expertise must take precedence to technological application in a journey towards consumer-friendly growth, according to Dhawal Kamath, Chief Business Officer, EbixCash

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For any business, the primary task is to understand consumer needs and to provide solutions in a timely and satisfying manner. For Dhawal Kamath, the Chief Business Officer at EbixCash Financial Technologies, this principle applies more so to the sector his company operates in.  EbixCash’s leadership philosophy looks to empower its teams. However, this can only be successful if the domain understanding has already upgraded to a post-pandemic, next-normal version, and technology then plays the role of a booster than a crutch.

“We understand how businesses function, whether it is in India or the rest of the 20 countries we are in,” says Kamath, adding, “In the Philippines, we started five years ago. We currently have 70 per cent of the market share, which has been built over time.”

Know & Understand Your Customer

Kamath is convinced that EbixCash’s advantage comes in understanding consumer needs. “Our USP, if you ask me, is the team of people who understand this domain during the journey we have had. We have been able to enjoy the status of preference with our customers due to this,” he says.  

Kamath admits that EbixCash has seen its churn of people but he believes this is a transition across the sector as newer kinds of skillsets gain importance. “The idea should be to keep training people. You have to get them to a curve, where they prefer to be inclusive and to a point where they understand what you as a company intend to go directionally,” adds Dhawal.  

Skills and people need to change with the times, and this must happen right at the leadership level so that it cascades and spreads across the team.

Reflecting on the changes and challenges that are coming in portfolios, core competencies, wealth and asset management, Kamath believes that the time ahead will see lessons from India going to other markets. “In the last few years, we focused on e-KYC. Most consumers in India were already adept at this. We took this product to a developing country and showed how allows much better access to people. Covid accelerated many changes, and now we should look out for where the next innovation will come from.”  

“As people innovate, trends change from the likes of e-KYC to doing more themselves. DIY (do it yourself) was perhaps one of the strongest movements in the crisis year and this will entail more changes because the more the consumer wants to do themselves, the easier or simpler the product has to be to use. You should have a person do it. These are some of the things we are watching out for and developing our strategies accordingly,” Kamath sums up.   

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Magazine 28 Dec 2021 Dhawal Kamath EbixCash