[YS Exclusive] As COO of Mcapital de Mswipe, Tanya Chadha aims to reach a loan portfolio of Rs 100 Cr by March 2022
Last week, Mswipe announcement Tanya chadha as Chief Operating Officer of its credit activity – Mcapital. With an MBA in Marketing and Finance, Tanya has over 16 years of lending experience in different industries such as credit, sales, alliances and product development.
Tanya will oversee the construction of a Rs 100 crore loan book by March 2022 by Mcapital.
As one of the biggest acquirers of POS with 6.75 lakh POS and 11 lakh QR merchants, Mswipe will target the very underserved SME segment with access to formal credit through Mcapital.
Joining the leadership team, Tanya, who was previously Vice President – Loan Products and Business Processes at Mcapital, will now focus on accelerating efforts for technological innovation, and will lead the new product strategy. and business growth.
Tanya also has a wealth of experience in secured and unsecured loans in functions such as credit, product management, alliances, and sales. In his previous company Rattan India Finance, she led consumer credit, including personal loans, small business loans and two-wheeler loans. Tanya has also worked with leading NBFCs including HDFC Ltd, Kotak Mahindra Prime, and Capital First.
In an exclusive conversation with Your story, Tanya spoke about the team’s plans for Mcapital:
Edited excerpts from the interaction
Your story (YS): What are your plans with Mswipe and what can we expect?
Tanya Chadha (TC): We aim to provide a complete solution that will include payment services and a line of credit, to MSMEs and the retail industry. Mcapital will capitalize on the existing market base of over 6.5 lakh and 11 lakh on POS and QR respectively. We will close the credit gap this industry faces today through the use of technology, flexible repayment programs and minimal documentation.
YS: Tell us about your membership in Mswipe and tell us why you chose Mswipe?
TC: Mswipe is a big name in point of sale solutions for all types of payment acceptance in various business categories. It is the nation’s largest point-of-sale acquirer and end-to-end digital enabler of MSMEs who has been leading the transformation of point-of-sale terminals for a decade now. Its broad reach and product innovation are the best in the industry. By working with Mswipe to start and grow its lending business, Mcapital, and by introducing various solutions for the credit-strapped MSMEs and the retail segment, this was an opportunity that I seized.
YS: Tell us about your background and what made you choose finance as your field?
TC: I come from a military background, I am the daughter of an army officer. I grew up across the country. There was a change of city, school and friends every two years and it became a constant part of my life. This exhibition has shaped me in such a way that as a person I cannot see myself being part of a static industry / which does not offer opportunities to do different things under one umbrella or the same thing differently. Therefore, I chose retail finance as my field because of its fast paced and dynamic nature.
YS: What is your knowledge of the credit markets and how has it evolved and changed in India?
TC: I started my career when the loan process was pretty heavy. From collecting documents to third party checks to disbursement, everything was physical and time consuming. The TATs were of the order of 10 to 15 days. However, today with digitization everything has moved online.
The whole industry has evolved so that people can apply for loans from the comfort of their living room. With the availability of alternative data, the need for documents has decreased dramatically. Facilities such as E-KYC, KYC video, information provided by credit bureaus, geo-tagging, E-sign, e NACH / MANDATE, etc. have changed the whole lending dynamic. Procurement and delivery costs have fallen. The customer experience has improved considerably.
YS: What are the challenges that COVID-19 has launched and what have been the positives for the loan segment?
TC: COVID-19 impacted borrowers’ ability to repay as many jobs were lost or businesses ran out. This had an impact on lending because lenders were and are worried about their money in the market. However, the regulator has given respite in the form of a moratorium to both the borrower and the lender, allowing them to weather the pandemic.
He also highlighted the importance of having digital contact points for clients in the lending industry. Whether to lend or to cash. Organizations that weren’t inclined to reach out to their customers digitally eventually braced themselves to mobilize this development.
YS: What advice do you give to young women who want to make finance a career option?
TC: The biggest advice I would like to give to every young woman is that she should work to become independent and, most importantly, earn her own money. When it comes to finance as a career option, it is a very broad field and offers many options, choose the one that you are passionate about and matches your skills.
YourStory’s flagship startup and leadership conference will be virtually back for its 13th edition from October 25-30, 2021. Sign up to receive updates on TechSparks or to express your interest in partnerships and speaker opportunities . here.
To learn more about TechSparks 2021, click on here.