What Shaji Varghese teaches about B2B marketing

We really use digital as a platform to deliver the product at the doorstep of the customer. B&B housing has grown exponentially over the last six years, an asset under management of about 75,000 crore, one of the largest in the space. How has the digital transformation powered that growth over the past few years across functions? Yeah, it has been a fulfilling journey for us. And yes, we have been credited as the tag of being the fastest growing house of finance company for all the last five, six years.

Yes, digital did play a large role in the transformation journey from a small little fringe player to the one among the top five. And right from the beginning, business process reengineered in 2012, we are very clear digital is going to play a very vital role. You know, I am forced much before, you know, the world digital really caught up. Now, we had an understanding not only on the acquisition side.

We started looking at digital as an opportunity right from the acquisition, moving on to the customer service, all the way up to winding up after maybe 20, 30 years. We first built, you know, enterprise system solutions, which can actually, you know, kind of be compatible with all these. We really invest around in that. And to that extent, the first three or three, four years of the business process reengineering, even for the communication, we only used digital as a platform.

We actually let go the conventional, you know, mode of communication to really work for us. How do you use brand, I mean, digital in brand building, especially for younger consumers who are digitally native, who are primarily on social media and the Internet? See, conventionally, the only medium, you know, used to be only the website. We really actually used, you know, digital as a platform and an opportunity to intercept with the purchase decision process of a consumer.

And the TG, which we have defined the target group, which is the, you know, having potential of earning for another 20, 30 years more, you know, we really could foresee their purchase decision behavior change. In a business like ours, which is home loans and the mortgage business, they always search around in the various websites and so on and so forth. So, we are there everywhere, you know, the chance, you know, a prospective customer to see us in the places where he moves around is very likely.

Yeah, he goes around, maybe to a property side, we are there. Then he goes to maybe a loan aggregator space, we are there. And finally, the youngsters today need a doorstep delivery. In fact, they need delivery of the, in a fingertip. We really use digital as a platform to deliver the product at the doorstep of the customer. Days are gone where you open a branch near the house and we expect consumers to walk in. We really leverage digital to reach out and deliver at the doorstep.

That also really helped us, the world brand perception of being a, you know, little bit of a traditional, slightly laid back from a modern contemporary delivery and practices. That really helped us. You operate in a, for a sector which has seen a lot of challenging times in the past few years. There's been the RERA, there have been high NPAs in the real estate sector. There has also been slackening demand across regions, right? How have you been able to manage that, counter that because as you look to sort of grow your business at the same time?

See, the digital really helped us to really understand and stay focused on the TG. It's very important for an enterprise like ours that in a lending business that you have a defined TG, you stay put there. Because you also, you know, internal your credit process and risk acceptance criteria have been all built around it. So, digital platform really helped us to stay focused on the TG. That is one. So, we knew which TG we operate. That's a power of TG, the income group, the gender, the city, the pin card. It is that level we are able to really track.

So, that's one. The other side, the digital platforms also has been helping us to do KYC check and contact point verification. And the speed and accuracy really enhanced. Right. To that extent, it's really helping us. But yeah, when it comes to the consumer side of the mortgage business, I think NPAs and things are very manageable. And you know, I must say, you know, we are also being credited as the housing finance company with the lowest NPA. I'm sure that these digital initiatives also helped us to get up there. The last question really.

So, how is, so a little bit about Shahji outside of the workplace. We spoke about how you love farming. Right. And both at home here and back home in Kerala. Just if you could let us know a bit about where that interest came from. What is the background story to that? Oh, of course, I'm a son of a farmer. So, that's where obviously I've seen it happening at home. So, you've grown up? Oh, of course, yes. And back home in Kerala.

Even during my hostel days, you know, I used to see whether I can get some holidays during the harvest or the time it's been planted. Even now, you know, at least once in 18 months, 24 months, I do travel back during the monsoon days, go see around. And it's a great experience. Thank you.