Building a one-stop solution for financial needs ft.Subramanya S V
Dec 10, 2022
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Subramanya S V, CEO of Fisdom, discusses their one-stop financial solution, challenges in fintech, and building consumer trust. They explore personalized financial advisory services, tailored products for specific customer segments, and the evolution of the financial market amidst changing economic factors in India.
Fisdom offers a diverse range of financial products to cater to customer needs.
Building trust through transparency and simplicity is crucial in the fintech industry.
Deep dives
Origin Story and Decision to Build a Wealth Tech Product
Subramanya Svi, a former venture capital investor, decided to become an entrepreneur in 2015 and ventured into the fintech industry due to the changing landscape and disruption caused by the internet. Fizzdom, the app he co-founded, initially focused on helping users with investments due to the common challenges faced by people in terms of lack of knowledge, access, and trust. By simplifying the onboarding process, offering digital KYC without Aadhar, and addressing payment gateways, Fizzdom aimed to provide user-friendly solutions.
Product Evolution and Customer Understanding
Fizzdom's early focus on investments later expanded to include stocks, pension funds, tax filing, and catering to High Net Worth Individuals and more. The company aimed to address user challenges by simplifying the complexity of financial services and focusing on three pillars of simplicity, accessibility, and trust. Through a partnership-led approach, Fizzdom collaborated with banks, reaching a vast customer base and offering personalized products and guidance based on risk profiling and customer needs.
Navigating Regulatory Challenges and Building Trust
Navigating regulatory requirements and integrating with multiple external interfaces posed tech challenges, specifically in enabling digital KYC and streamlining the payment gateway process. Fizzdom focused on building trust with customers through transparency and simplicity, offering jargon-free solutions and emphasizing trustworthiness. By partnering with banks and providing advisory services, Fizzdom aimed to establish itself as a reliable brand in the financial services sector.
Future Growth Plans and Collaboration
As Fizzdom looks towards the future, the company plans to develop its product offerings to cater to specific customer segments, such as tier 2 and tier 3 town residents and Mass Affluent investors. By creating tailored products and leveraging bank partnerships, Fizzdom aims to provide value-added solutions to address varying customer needs. Emphasizing the importance of focusing on customers and building enduring businesses, Subramanya Svi encourages collaboration and welcomes feedback for future growth and development.
This week on Shunya One, Shiladitya is joined by Subramanya S V, CEO and co-founder of Fisdom. In the episode, Subramanya takes us through the journey of Fisdom where customers access a holistic set of financial products including stocks, mutual funds, pension funds, sovereign bonds, insurance, and tax filing. He also shares some of the challenges he faced while starting a fintech company and building trust in the consumer. Tune in to know more.