Fintech’s customized service, a big boost for co-ops: Kale

“It is important for Fintech Companies to reach the last person, and try to understand their exact financial needs and problems”, stated CA Milind Kale while launching the Pune Fintech Meetup. The meeting assumes importance in the light of the fact that Pune houses several urban cooperative banks and credit co-operatives of the state of Maharashtra.

Speaking on the occasion, the Chairman of the second UCB in the country, Cosmos Cooperative Bank, Kale said “the importance of Fintech Companies is not fully realized yet. FinTech Companies can help the financial institutions in saving time and money on services. They should convey their role in achieving this to financial institutions.

“If Fintech understands the exact requirements of cooperative banks, small credit societies, and other financial institutions, they will be able to provide the right services and solutions to them, which will be highly beneficial to all financial institutions.”

Kale also expressed his confidence that Pune Fintech Meetup will definitely take the lead in doing so. The launch of Pune Fintech Meetup was organized at Cosmos Bank’s head office.

Various seminars and discussions were arranged on Finance-Technology, Banking on this occasion. Arvind Tavare, Director-Cosmos Bank mentioned that “Fintech companies should comprehend the work culture of UCBs.”

Speakers on the occasion had also this grudge that Fintech companies have mostly not grown beyond Bengaluru. They felt instead of concentrating on one location Fintech should look forward to offering their services to a larger customer base in other cities too.

“If Fintech Entrepreneurs come up with such ideas, Cosmos Bank will definitely take the lead in funding them. Cosmos Bank will play an important role in liaison between Fintechs and UCBs,” read a release from the UCB.

Managing Directors and CEOs of many Fintech Companies were present during this programme. Manoj Yadav from Cosmos Bank’s IT Department welcomed the guests and dignitaries, while Girendra Kashmalkar proposed the vote of thanks.

It bears recall that in recent years several financial experts have lent support to the idea of increasing uses of Fintech in banking services. Vamnicom and other co-op bodies have also held several training programmes on the issue in the past. Even Prime Minister Narendra Modi, a tech savvy politician himself, has supported the idea of Fintech in financial operations.