India with a diversified financial sector is witnessing massive growth and expansion. Things are once again getting back on track in this post-COVID session and with strong growth of existing financial services firms and new entities entering the market, India’s financial status is rapidly transforming into a predominant banking sector. Numerous experts are sharing their views about this growth and one of them is the very successful financial services expert, Eric Anklesaria. According to him, this is the golden opportunity for the nation to nurture the entire financial ecosystem as the Government of India has introduced several reforms to liberalise, regulate and enhance this industry.
Eric Anklesaria Keypoints in Financial Industry
- Why is there a need to boost talent acquisition in financial services?
The pandemic has taught the banking and financial industry the lesson to innovate and find new ways to achieve growth in the most difficult conditions. We’re now ready to face challenges and have developed strategies to grow our business line, Eric Jimmy Anklesaria said in an interview.
The highly skilled and energetic and passionate finance professional expresses his views further that we need to provide more opportunities to the young talents as the Indian financial sector currently comprises several segments: commercial banks, new-age fintech startups, NBFCs, co-operatives, pension funds, mutual funds, small and medium financial entities and recently established payment banks.
To achieve high levels of productivity and profitability, it is vital for tomorrow’s enterprises to invest in talent acquisition. Despite being an attractive career aspect, the financial services sector has taken a dip in recent years, especially among young people. The industry should address the major issues and explore new ways to attract interested people in the sector early on.
Talent acquisition creates a flexible work environment and industries like financial services need to shake up their employment model and shift the paradigm to find the best person for the job. Being a successful financial service expert for more than 20 years, Eric explains that poor candidate experience damages employer brand and could damage consumer brand as well. Therefore, the financial services industry should look to improve its employer brand by demonstrating the culture of developing leadership qualities and encouraging talent acquisition.
India, a Leading FinTech and Startup Nation
Eric has worked across geographies including the USA, Europe, the UK, Middle East, Eastern Europe, Australia, South East Asia etc. and has closely analyzed the major drivers that boost their economies. According to Eric Anklesaria News, India is currently in the same position to get close to all such developed economies in the world. Using his proven abilities to quickly analyze key growth initiatives, he claims that the nation has the best chance to be a global FinTech superpower very soon.
Currently, India has the highest FinTech adoption rate globally of 87% which is significantly higher than the global average rate of 64%. We are the 3rd largest FinTech ecosystem globally and investments worth more than $8 billion have already been witnessed till the end of FY 21. The nation’s digital payments market is at an inflexion point and is expected to more than triple by 2026.
Eric further claims that we have the 2nd highest number of smartphone users globally and in technological innovations such as Artificial Intelligence and Machine Learning, India is consistently moving ahead to the top position.
How the Financial Industry contains a lot of potential for growth?
Eric’s broad experience encompasses CRM strategy, payments advisory, risk and finance advisory, core banking transformation and the magnificent finance professional has achieved numerous KPIs and set benchmarks throughout his career. He is an inspirational finance leader for the coming generation; hence, his views matter greatly. According to him, in comparison to other developed countries,
we have the lowest penetration across most sub-segments of banking and financial services businesses. Hence, we have the potential to grow faster than any other economy in the world. Eric claims that these positive signs are signalling better days ahead and there’s a turn of fortunes in India’s financial industry.
Eric holds immense knowledge and expertise in resolving complex and multiple issues in finance & operational, sales, human resources etc. and is a great leader to motivates teams to achieve outstanding results. Therefore, every view shared by Eric Jimmy Anklesaria about the finance ecosystem definitely holds a validate reason with some solid piece of evidence.
Reports and news also prove the credibility that India is one of the five countries classified as big emerging market economies by the World Bank. So, we hope for the best and good luck to India’s financial industry and we’ll soon get back with some more views and updates about the financial sector of India by the great financial expert.
Eric jimmy anklesaria is one of the prominent financial expert in india you can simply follow his social platforms Instagram LinkedIn YouTube he is active on all of them