Upshift

To rise to the next level, BFSI companies are upshifting every aspect of their business, including front office, back office, brand, HR, legal, etc. Banking Frontiers looks at a spectrum of companies upshifting themselves:

- Smriti

IFFCO Kisan Finance diversifies into UCV & MSME

IFFCO Kisan Finance was established in December 2017 and promoted by the Indian Farmers Fertiliser Cooperative Limited (IFFCO). It is dedicated to advancing financial inclusion in rural India. Under the leadership of CEO Anjaneya Prasad Prabhala, the company today has served over 1 lakh customers across 9 states, offering a range of agricultural loans and financial services. The NBFC has a dedicated team of 1400 employees.

Leveraging IFFCO’s 50+ years of experience, IKF has made significant strides in customer engagement, digital channels, and operational efficiency, ensuring sustainable growth while upholding ethical and transparent business practices.

FRONT OFFICE UPSHIFTS

Upshift No. 1 - Enhancing Existing

Customer Business: IFFCO Kisan Finance has shifted its focus from primarily acquiring new customers to leveraging the potential of existing customers. By staying in continuous contact with these customers and conducting upfront credit assessments for limits, the company has significantly boosted its business from current clients.

Through scheduled interactions and tailored offers on their field force application, the company has increased its existing customer business from 2% to 10% of the total. Anjaneya Prasad Prabhala, CEO of IFFCO Kisan Finance sees opportunity emanate from assets financed by the company and by other financiers for requirement of new assets. This strategic shift has led to a more well-rounded approach to customer engagement.