Latitude Fintech - Solving the Key Challenges Facing the Banking Industry
The Indian banking industry is projected to reach USD 28,500 billion by the end of 2025. This growth can be attributed to banks shifting focus to client servicing. It has become mandatory for banks to have a robust technology infrastructure in order to improve customer service and gain a competitive edge. Technology Innovation is the need of the hour which can not only help individual banks succeed but also bring to reality the vision of the overall Digital India push at the larger economy and country level. Headquartered in Bengaluru, Latitude Fintech is uniquely positioned to cater to the banking sector. The company has a rich and diverse experience in designing, delivering and implementing banking software globally. Latitude Fintech has come up with MpowerDigital suite of products to address the challenges faced by the banking sector.
MpowerDigital Onboarding is targeted at helping and enabling banks to acquire customers in a quicker, easier and seamless manner to enable their vision of growth
MpowerDigital caters to Client Sales & Service, Customer Acquisition (Retail & MSME) areas and more. It is equipped with features like Customer specific sales and service data, Insight and analytics driven customer service among others.
Sushmitshri Babu, Founder, Strategist, and Visionary of Latitude Fintech explains, “MpowerDigital suite of products consists of MpowerDigital Onboarding and MpowerDigital Content. They are well equipped to solve some of the key challenges facing the banking industry.”
MpowerDigital Onboarding assists banks in acquiring more customers at a faster pace and lower cost while reducing operational risks. Sushmitshri states, “MpowerDigital Onboarding is targeted at helping and enabling banks to acquire customers in a quicker, easier and seamless manner to enable their vision of growth.” MpowerDigital Content, a banking industry specific solution by Latitude allows banks to respond to their customers' needs very rapidly in the marketplace. As banks face the challenge of customer-facing processes and transactions being paper-intensive, MpowerDigital Content digitizes documents, enables secure sharing, and creates automated processes with audit trails in a secure and safe manner.
Instead of solely focussing on urban areas, Latitude focuses on individuals and SMEs in semi-urban and rural areas, where customers have no online digital foot-print and are not digital natives. The company follows a B2B approach where they collaborate with banks instead of competing with them. Sushmitshri elaborates, “Our philosophy is also to look into the entire business process - originating at customer side to processing by the bank and ultimately servicing the customer on a regular basis. We don't limit ourselves to just customer facing aspects of it. This helps not only to provide an exceptional customer experience but also streamlining operations and reducing costs.”
Latitude has a team of 60 people with an innovative and open office environment. The company aims to acquire and serve more customers across credit unions, cooperatives, NBFCs and small finance bank domains. Sushmitshri concludes, “We are also kick-starting our platforms teams - that will focus on creating an IP based services offerings for the banks to manage their digital transformations efficiently. In next 5 years, we would like to establish ourselves as the top partner for banks in providing innovative products and services.”
MpowerDigital Onboarding assists banks in acquiring more customers at a faster pace and lower cost while reducing operational risks. Sushmitshri states, “MpowerDigital Onboarding is targeted at helping and enabling banks to acquire customers in a quicker, easier and seamless manner to enable their vision of growth.” MpowerDigital Content, a banking industry specific solution by Latitude allows banks to respond to their customers' needs very rapidly in the marketplace. As banks face the challenge of customer-facing processes and transactions being paper-intensive, MpowerDigital Content digitizes documents, enables secure sharing, and creates automated processes with audit trails in a secure and safe manner.
Instead of solely focussing on urban areas, Latitude focuses on individuals and SMEs in semi-urban and rural areas, where customers have no online digital foot-print and are not digital natives. The company follows a B2B approach where they collaborate with banks instead of competing with them. Sushmitshri elaborates, “Our philosophy is also to look into the entire business process - originating at customer side to processing by the bank and ultimately servicing the customer on a regular basis. We don't limit ourselves to just customer facing aspects of it. This helps not only to provide an exceptional customer experience but also streamlining operations and reducing costs.”
Latitude has a team of 60 people with an innovative and open office environment. The company aims to acquire and serve more customers across credit unions, cooperatives, NBFCs and small finance bank domains. Sushmitshri concludes, “We are also kick-starting our platforms teams - that will focus on creating an IP based services offerings for the banks to manage their digital transformations efficiently. In next 5 years, we would like to establish ourselves as the top partner for banks in providing innovative products and services.”
