A common theme during the conversation between Kedar and Bala was about the role that people play in organisations. Bala reiterated the importance of having a team that comes together rather than falls apart during tough times and how that helped him get to where he is.
"You have to survive to tell the story"
MoneyTap was founded about 5 years ago, but its founders have been building businesses for decades. Of its three founders Bala Parthasarathy in particular has built, scaled, sold, and invested in over 30 startups since he left college. Along the way he has inspired many a student to embark on the entrepreneurial journey. One of whom was present in a talk he delivered at IIT Madras in 2012. That student was Kedar Kulkarni, our co-founder and co-host of the first episode on the second season of HyperInsights. In this hour long conversation with Bala, we cover topics ranging from remote onboarding to entering a market like Vietnam.
The summary of this conversation is given below.
The context
The coronavirus was the catalyst to accelerate the adoption of remote onboarding. Although remote onboarding is more efficient and user friendly, concerns around privacy and fraud has led regulators to mandate physical verification for most fintech use cases. However, new onboarding processes such as video KYC has been able to ease onboarding during these times. Bala had several interesting insights on how we may incorporate remote onboarding into our future and the path of recovery.
HyperInsights
The context
Every decade or so we are faced with a crisis that seems to be all consuming. Today the eerie pattern of periodic global shocks comes in the form of the pandemic we face. One other such crisis in living memory was what followed 9/11. When the twin towers came crashing down, so did the business model of Bala's first company: Snapfish. Overnight, the film roles that Snapfish digitised as a part of its service could no longer be routed thru Washington, as the government took measures to irradiate mails. Bala reflects on what Snapfish and his subsequent ventures has taught him.
HyperInsights and some wisdom
The context
India and Vietnam share more in common than first meets the eye. HyperVerge and MoneyTap have both spent years in making inroads into one of the most promising markets in South East Asia. Bala and Kedar traded insights from their experience in building a base in Vietnam and conversely what Vietnam has taught them about building for India.
HyperInsights
Differences
Similarities
The context
Fintech based regulations in India have always been a divisive subject. The general pattern of regulation has been to be overarching, yet, light on specifics. Bala draws on his experience of working with think tanks like iSpirit and government bodies like UIDAI to offer his views on regulations.
HyperInsights
A common theme during the conversation between Kedar and Bala was about the role that people play in organisations. Bala reiterated the importance of having a team that comes together rather than falls apart during tough times and how that helped him get to where he is.
Following up from Bala would be a tough act. Anuj Rathi VP Product, Growth, and Revenue at Swiggy offered a different perspective of building for consumers that BFSI could learn from.