StuCred is a real-time student credit platform which operates digitally and has an exclusively designed revolutionary app, aimed to empower college students with formal financial inclusion and to give them a head start in building their credit scores. This app offers real-time credit exclusively to college students in India for 30-60 day tenure at 0% interest rate.
Ms. Henna Jain Tatia, Co-founder, StuCred, is planning to make StuCred the one-stop-shop for all student financing requirements and will consistently release new product lines that will provide exceptional value to the customers. The loan amount can range from Rs. 500 to Rs. 30,000.
She divulges her own experiences being the flagbearer of her firm, and how has technology helped shape her idea, in an e-interaction with Gairika Mitra.
Knowing that gender bias exists, how difficult is it to be a woman and thrive in your specific field?
FinTech has the advantage of being a relatively new industry, where it’s great to see a large number of women being an integral part of the organizations. I think the challenge is to make your perspective and voice, literally stand out in a room.
What role do you think technology plays in contemporary times in the financial sector?
Finances have truly gone online now – across banking, payments and credit. Being one of the largest sectors globally, I think the marriage of FinTech was an inevitable one as we roll through the technological revolution.
Can we rely on technology solely to be the panacea for all problems? If so, how?
I think the technology has truly changed the way we look at problems themselves. With technology, you can write a programme to do anything. So our focus, when it comes to problems, often shifts away from the limitations we may have previously had without technologies to help us, allowing us to perform functions that previously did not seem possible.
What are the immediate and long term milestones for your company like?
We’ve already established ourselves PAN India, with users hailing from each and every state and union territory. Our only milestone is to be able to cover more and more students throughout the country.
Challenges are an inevitable part of the business. Could you highlight on some you had encountered?
I think everyone in FinTech has had a rocky few years, with our regulators also going through a teething and learning phase of the industry. But the more time that goes by, both the companies like us and our regulators can better understand the landscape and build a robust FinTech industry in India.
How can we have more women joining the bandwagon?
In today’s world, I think gender and age biases are really outdated. If you find that you are good at something, follow through with it; think out of the box. There are so many options now for flexible hours, and work from home roles that more and more women can join the industry. There has never been a better time for women to enter the FinTech industry.
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