Finway FSC: A leading-edge Financial Services Consulting and Solution provider
At the time of financial difficulties, the companies seek assistance by turning themselves towards crisis and recovery advisors. Such professionals help them to get a good grip on the crisis situation that ensures a turnaround plan for a longer period of time. Financial Services Consulting firms ensure that the uncertainty in the enterprise does not impact the business goals. Acknowledging the thriving business opportunities in this domain, many business ventures are emerging to assist the companies in investment advisory. One such outstanding company is Finway FSC that has carved a niche for itself by pioneering in the domain with its out- of the box business solutions.
Incorporated in January 2017, Finway FSC is offering a holistic platform to individuals and small businesses to excel in their respective domains. Be it the lending space to investment advisory and Wealth Management to Insurance, their fortes lie in a diverse range of services. The ground-breaking FSC is well- adept in dealing with both Secured and Unsecured products that are strategically moulded as per the needs of the market and customers. It is serving as a beacon of hope for people to pursue their dreams by rendering the right financial consulting and solutions.
Gradually, expanding its boundaries from Delhi/ NCR to the top ten cities of the country, it is planning to launch the concept of Offline Loan Shops in Delhi for those who are not quite tech-savvy and are in need of offline support. The Company commenced this voyage with a loan book value of Rs. 1.0 crore, it has now reached 14.00 crores, and with zero NPAs, it is excelling the heights at a rate of 20 percent on a MoM basis. Since its inception, it has ensured to multiply the number of disbursed loans seven times.
“A TAT (Turn Around Time) of 24 hours was the biggest task for the management that was strategically achieved, following the best technologies and practices in operation. Today, Finway succeeds in reducing the TAT to 24 hours for unsecured loans and 72 hours for secured loans, which no other FSC is capable of offering yet.” says the CEO and Founder, Rachit Chawla.
A glimpse at the inception story
‘Empowering people financially’ is the tagline that explains their cause of commencement of this business venture. They acknowledged the need of penetration for consumers and people with good creditworthiness but were not able to get their points across to the financial institutions as the turnaround time was too big for the money to be of any use. Previously, most financial institutions were catering to the needs of only the top three percent of the population. In this regard, the Key Official says, “We thought of establishing a platform that could empower the people financially, and that’s how Finway was born.”
With the exclusive vision of serving the individuals and SMEs, by being most competent, honest, and transparent in their business operations, they have set a mission to empower Indians with financial inclusion and literacy that can enable them to make prudent choices in terms of borrowing, investing, or protecting their capital. During the initial stages, they started with only lending products and now they are dealing in all sorts of financial services like loans, financial advisory, consulting in investments, and insurance by keeping pace with a very new age banking style.
Ensuring client’s satisfaction
Catering to the SMEs- be it big or small- they have ensured to win the faith of their valued clients. By including transparency in their operations, they have also leveraged technology to the next level. The team of the Company never seeks commission and always tries to work by offering reasonable prices of their offered services. Their main objective is always aligned towards the client’s interest. Finway has come a long way by virtue of increasing faith in their customers. A few special mentions of their consumers base includes- Chanakya IAS Academy, Big Boys Toys- Mr. Jatin Ahuja, Genesis Mall and Ayush Mehra of Study by Janak, etc
Honesty, Innovation, Customer- Orientation, Agility and new generation services – have helped their brand to excel in the relevant domain effortlessly.
Dealing with the impacts of the pandemic crisis
Owing to their technology-friendly work culture, their reach was effortlessly ensured to their consumers with the help of the Pan India agent. They instantly developed a partnership with the B2B platform to connect with the financial institutions with ease to render their services to their adored client base. Effectively working against the tide, they supported their consumers in every possible way.
Explaining the uniqueness of their business, Rachit says that whatever they do is unconventional. Their interests are aligned towards innovating and giving maximum value to the customers. When it comes to investing, they are not just advisors but they provide algorithmic trading services too. The Management believes in investing significant time in investing time to develop the technology. Once innovative technology has been developed, it is provided to the customers to offer better results at an affordable expense.
In order to implement an innovative solution, the team ensures rigorous testing. Before launching any product in the market, they ensure to test it intensively on the employees and other people in the know. Any product will not enter the market until the team of Finway is not 100% convinced about its performance among the consumer base. Such an insightful strategy has helped them ascend the heights effortlessly.
Team Finway is impassioned to deliver the world-class services that can resonate with client’s expectations. They value innovation to exceed the benchmark standards. They have converged the attention on creating an engaged workforce that is admired for its passion, persistence, and purpose.
Achievements and accolades
Finway believes in improving with the sole motive to exceed the benchmark standards. Their commitment to excellence has bestowed them with numerous awards and accolades. Finway has won ‘Excellence in Financial Product Branding Award’ by Indian Brand Convention & BAM Awards 2018. It has also bagged ‘Excellence in Artificial Intelligence and Finance Award’ by Indian Start-Up Convention & Start-Up Excellence Awards 2018.
Finway has also been awarded as the Tech Company to Watch Out for BW Disrupt TechTors. Alongside this, they have also been nominated among Top 50 Brands by Exchange4media.
Finway has been awarded as the Most innovative Fintech solution of the year by 5th IVS Virtual Summit & Awards 2020.
Finway has also been awarded as the Most Admired Service provider in Financial Sector by ET Now at World BFSI Congress and Awards 2020 and rewarded with Most Innovative Financial
Services Provider’ Award by Economics Times only.
Acknowledging the CSR activities
Financial Inclusion and Financial Literacy are the two key areas where Finway is trying to focus on its CSR objectives through seminars, webinars, and social media platforms. It also provides 24×7 free of cost investment advice to people on the phone. Besides, Finway is successfully running a financial literacy program on its YouTube channel to educate people about the Do’s/ Don’ts of dealing with any financial products. Their insightful approach for offering the masses with such commendable solutions has allowed them to ensure growth in leaps and bounds.
