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An insight-driven approach

The conversation swiftly moved to Neokred’s innovative solutions designed to empower brands with valuable insights into consumer behaviour. According to Sridhar, it is important to go beyond mere transactions to gain insight into a customer. “When a payment takes place, the consumer is doing transactions with you. What else are you going to learn about that customer?”

He provided a concrete example of categorising and classifying spending behavior of consumers to help brands better understand their preferences and habits. Sridhar’s emphasis on fostering a “beyond banking” experience demonstrated Neokred’s commitment to revolutionising customer-business relationships.

Data security and regulatory challenges

As the conversation progressed, Sridhar discussed the challenges of working in a highly regulated environment. In light of the Data Protection Bill, he discussed Neokred’s proactive approach to data security.

“How do you keep your personal data from getting into brands? It’s all about your privacy,” Sridhar said. The Neokred focus on ensuring consumers have control over their personal data aligns with the broader industry shift toward enhanced data protection.

Revolutionary solutions at the core

Sridhar explained Neokred’s commitment to innovation, including innovative solutions that extend beyond conventional banking. In keeping with the Data Protection Bill, he highlighted Neokred’s initiative to notify consumers of unwanted data sharing.

He also discussed the possibility of QR codes being replaced by facial recognition in digital transactions. “The new story is your face is your QR code,” he predicted, underlining Neokred’s foresight in embracing cutting-edge technologies for a seamless and secure user experience.

Working with regulators

Sridhar talked about Neokred’s collaboration with regulatory bodies and law enforcement agencies. A key objective of the company is to provide regulators with valuable data insights while actively contributing to the development of industry-specific solutions.

Neokred works hand-in-hand with law enforcement agencies to support them in multiple ways, he explained, highlighting the company’s collaborative spirit in navigating complex regulatory issues.

To sum up, Sridhar’s fireside chat underscored Neokred’s unwavering commitment to shaping fintech’s future. Neokred is not only revolutionising customer experiences and navigating regulatory complexities but redefining the industry’s narrative as well. Fintech is undergoing rapid evolution, and Neokred is committed to making it more secure and personal.

The chat also provided a glimpse into the exciting opportunities in the rapidly evolving field of financial technology. This journey is more than simply revolutionising transactions; it’s about reshaping how we perceive and use fintech.