![Phygital is the strategy for Mahindra Finance](https://magarticles.magzter.com/articles/1337/415800/5e4f1c3221c5a/Phygital-is-the-strategy-for-Mahindra-Finance.jpg)
Mahindra & Mahindra Financial Services, the rural-focused NBFC arm of the automobile major Mahindra & Mahindra, is today the top financier of tractors in the country. The company has several other financial products to make the lives of the rural and agricultural community a better experience. The company believes that given the nature of the geographies it operates in and the different segments of customers it serves in the deepest pockets of rural India, it needs to have a viable mix of the digital and the physical business models in the foreseeable future. It is just being practical, feels the company.
Mahindra Finance’s vice chairman and MD Ramesh Iyer, says while on the one hand, the company will offer fully digital, online products for specific target customer segments, on the other, it will continue to serve other customer segments through its branch model. “We will therefore have a ‘phygital’ strategy where the physical and digital models will co-exist and complement each other,” says he.
Iyer says the company has been serving the un-banked and new-to credit population in semi-urban and rural India, is present in every Indian state, and its 1300 + branch network covers 85% of districts nationwide. It has served 6.6 million customers spread over 370,000 villages – that’s more than one in 2 villages in the country.
4-PILLAR-STRATEGY
“Our customer-centric financial inclusion model focuses on 4 pillars – easy access to credit for livelihood, insurance, housing and investment solutions. We believe that the latent demand for financial services in the country is huge and we are uniquely placed to cater to the same,” says he.
Diese Geschichte stammt aus der February 2020-Ausgabe von Banking Frontiers.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der February 2020-Ausgabe von Banking Frontiers.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
![The day is when brands bring customers to banks](https://reseuro.magzter.com/100x125/articles/1337/1731898/DBJMazesQ1718282604346/THE-DAY-IS-WHEN-BRANDS-BRING-CUSTOMERS-TO-BANKS.jpg)
The day is when brands bring customers to banks
Credit Card-as-a-Service will enable every business to issue a card of its own:
![Transforming Tech Team from Generalists to Specialists](https://reseuro.magzter.com/100x125/articles/1337/1731898/PVDTTMcjN1718283080262/TRANSFORMING-TECH-TEAM-FROM-GENERALISTS-TO-SPECIALISTS.jpg)
Transforming Tech Team from Generalists to Specialists
Gaurav Jalan, CEO of mPokket, dives into cloud data storage and machine learning for smarter lending decisionsm and strategic vendor partnerships, shaping mPokket’s agile tech ecosystem for growth:
![Metabase, a unique cloud computing experiment by BEA](https://reseuro.magzter.com/100x125/articles/1337/1731898/ws7iclj5s1718282963097/METABASE-A-UNIQUE-CLOUD-COMPUTING-EXPERIMENT-BY-BEA.jpg)
Metabase, a unique cloud computing experiment by BEA
Hong Kong based Bank of East Asia, takes up a unique initiative in migrating to the cloud:
![Radian Finserv empowers dreams across 5 states](https://reseuro.magzter.com/100x125/articles/1337/1731898/BAKbkUmxw1718282794579/RADIAN-FINSERV-EMPOWERS-DREAMS-ACROSS-5-STATES.jpg)
Radian Finserv empowers dreams across 5 states
Partha Sengupta, COO at Radian Finserv, reveals the company’s highest standards of service and integrity in all operations & expansion plans:
![A digital thrust for Islamic Banking](https://reseuro.magzter.com/100x125/articles/1337/1731898/q1bQyMBXW1718282489406/A-DIGITAL-THRUST-FOR-ISLAMIC-BANKING.jpg)
A digital thrust for Islamic Banking
Kuwait Finance House is a totally Shari’a compliant bank that used digital tools to its full capacity:
![No escape from the law](https://reseuro.magzter.com/100x125/articles/1337/1731898/C0tgEBcXG1718282358154/NO-ESCAPE-FROM-THE-LAW.jpg)
No escape from the law
A woman entrepreneur in Vietnam was sentenced to death recently for causing irreparable loss to a bank:
![ARDB Computerization to boost agri & rural economy](https://reseuro.magzter.com/100x125/articles/1337/1731898/3OWAi4bCV1718281788722/ARDB-COMPUTERIZATION-TO-BOOST-AGRI-RURAL-ECONOMY.jpg)
ARDB Computerization to boost agri & rural economy
Agricultural and Rural Development Banks (ARDBs) play a vital role in India’s cooperative sector by providing financial services and credit to farmers and rural communities.
![Digital helps Branches boost Customer-Centricity](https://reseuro.magzter.com/100x125/articles/1337/1731898/sRR6K4Krt1718281325261/DIGITAL-HELPS-BRANCHES-BOOST-CUSTOMERCENTRICITY.jpg)
Digital helps Branches boost Customer-Centricity
Public sector banks in India, long cherished for their reliability and extensive reach, are at a pivotal juncture.
![Actionable Insights & Data Visualization empowers Belstar field force](https://reseuro.magzter.com/100x125/articles/1337/1731898/jtY4G6ZkY1718281002525/ACTIONABLE-INSIGHTS-DATA-VISUALIZATION-EMPOWERS-BELSTAR-FIELD-FORCE.jpg)
Actionable Insights & Data Visualization empowers Belstar field force
Dhanasekaran S, CTO at Belstar Microfinance narrates the needs of the field force and developing a solution that empowers them:
![Banks gearing up to buy Cyber-insurance](https://reseuro.magzter.com/100x125/articles/1337/1731898/MFTovxyTy1718280709701/BANKS-GEARING-UP-TO-BUY-CYBERINSURANCE.jpg)
Banks gearing up to buy Cyber-insurance
Recent years have seen a concerning uptick in cyber incidents against banks. In 2023, a data breach at Bank of America exposed over 57,000 customer accounts.