Amit Gainda, CEO, Avanse Financial Services
‘An investment in knowledge pays the best interest’, once said by Benjamin Franklin is true till date and will be forever. Education has always been an important aspect of the Indian culture and it continues to be the foundation for the fundamental development of individuals and the nation at large. With rising fees and the growing aspirations of parents in their choice of education for their children, paying education fees is now a significant expenditure for most households. It is a non-discretionary segment which makes education financing a multi-decade secular growth opportunity in India. Keeping this philosophy in mind, Avanse Financial Services, a new age education-focused NBFC, established in 2013, has been on a mission to provide seamless and affordable education financing for every deserving Indian student. Under the guidance of its CEO, Amit Gainda, Avanse has been on a journey to strengthen its leadership position in education lending space by creating solutions for the entire education lifecycle of a student spanning from school to post-graduation.
The 3P Potion for Success
Avanse has been focused on a sustainable and profitable growth approach throughout its transformational journey over the years. Hard work coupled with the magic of 3P potion – Perseverance, Passion and Pro-activeness have aided Amit to further strengthen the organization and thus, is now one of the fastest growing education-focused NBFCs in the country. The firm has been committed on the following guiding principles to be a responsible lender in this space:
- Integrated approach covering enterprise wide risk with focus on strong corporate governance and operational risk management across business and functional domains
- Liability first approach in creating width and depth in the organization’s borrowing strategy
- A segment led approach to leverage and build deep sector specialization in education financing to understand, reach and service customers better
This financial service provider offers tailor-made solutions across segments such as Student Financing for International & Domestic Education, Financing for E-Learning & Skill Enhancement and School Fee Financing. Additionally, it provides financing solutions for working and growth capital needs of educational institutes in India.
Customized Solutions Covering Every Segment of the Education Ecosystem
One of the unique aspects of this organization is its student-centric approach in evaluating profiles for education loans. Rather than depending only on the co-borrowers’ financial background, the organization evaluates the student thoroughly. As a part of this approach, the company evaluates the student’s profile – past academic performance, entrance test scores, pedigree of university/institute and courses. The organization has set benchmarks in terms of fulfilling academic aspirations across 10,000+ courses and 2000+ institutes in ~50 countries. Its services cater to the entire gamut of the education ecosystem from Kindergarten to Post-Graduation, thereby, cultivating the education ecosystem of the country. Also, its partnership with Edtech companies has enabled Avanse to fund deserving students from K-12 level to professionals taking up courses to up-skill themselves such as Coding, AI & ML, Blockchain and many more.
The organization is also a pioneer in the industry to start funding non-conventional courses such as aviation, film-making, robotics & industrial automation to name a few. Leveraging digitalization and technology, Avanse has become a digitally agile brand with robust business processes to sanction loan amount within 72 hours of application.
People at the Fulcrum of the Organization – The Main Force behind the Success
As the CEO of the organization, Amit Gainda is closely involved in creating successful business processes to ensure highest quality customer experience at all levels. He is focused on fostering a symbiotic environment which enhances the overall learning curve of the employees resulting into ‘Return on Intelligence’ while enabling ‘Return on Capital’ for stakeholders. Each member of the Avanse family abides by its set ‘SUCCESS ANCHORS’ – Customer Centricity, Strategic Orientation, Innovative Mind-set, Execution Focused, Entrepreneurial Spirit, Meritocracy-Driven, Collaborative Approach & People Excellence. Amit believes that up-skilling is extremely crucial for overall development. One needs to be a student for life to excel both professionally and personally and thus, be able to contribute towards the larger growth.
Amit Gainda, CEO, Avanse Financial Services: “The aspirations of both parents and students are rising high when it comes to securing a promising academic career. Thus, many Indian students are planning to pursue their higher education from quality institutions. Increase in awareness and financial institutions’ customized education financing solutions are providing the necessary impetus to these students to accomplish their academic aspirations. I am proud to be a part of this industry where we are able to fulfil our purpose of guiding our customer towards attaining a brighter future and thus, contribute towards the larger economy.”
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