Mr.Praveen Singh is a leader in business transformation and payments professional with over 30 years of experience.
He is the former CFO of SBI cards.
Currently he is Divisional General manager of one of the fastest growing Exchange companies in the world, Al Mulla Exchange.
His innovative take on this business and the way CX is transforming the way their organization is functioning is very interesting.
CXREFRESH: How does Al Mulla Exchange maintain its leadership in a rapidly changing and highly competitive market?
Mr. Singh : Al Mulla Exchange is primarily a remittance company and we deal withthousands of customers every day in branches and is very important for us that customer derives maximum value from our products and services. While this remittance business is commoditized in terms of exchange rates we offer and primarily this exchange rate is offered by many companies together. What distinguishes us from other companies here is the customer experience we offer to our customers. Or whether they aspire to deal with us once again when they come to us next time totally depends on how was the moment of truth for the customer when they interacted us with the first time.
CXREFRESH: What is your take on India and its strength and leadership in the new world ? Especially in the BPO sector.
Mr.Singh: India we see brings in a tremendous skill set in terms of BPO businesses and it is not only us but the entire world looks towards India when they try to design something new, something valuable something long lasting in terms of processes and in terms of adding value to customers and in terms of products or in terms of superb customer experience.
CXREFRESH: Are you witnessing disruption in business ?
Mr.Singh: The business, we feel is getting disrupted everyday. We see new players coming into the market almost every alternate day.
CXREFRESH: How should leaders adapt to business transformation to win the hearts and minds of customers?
Mr.Singh: On transformation side, I personally feel that customer expectations from a business while it remained constant that we as an organization continue deliver value to them but then the dimension of that value keep evolving and the company which is able to predict and design the products and service will always win the heart and mind of the customer, hence transformation in business is very very important not only in the mind but in execution also.