CxO of the Week: Deepak Gupta, CO-Founder & COO, Myloancare

This week’s CxO, Deepak Gupta, Founder and CoO of MyLoanCare, is responsible for driving force behind the building of the robust and continuously evolving technology platform at Myloancare. Under his leadership, MyLoanCarehas emerged as a remarkably profitable online marketplace in India, with partnerships growing at an exponential rate with a current 24 banks and NBFCs.

In addition to being meticulous and self-driven technology professional, Deepak loves driving and exploring new places by road-travel. He also enjoys spending time especially designing robots with son and catch up with the latest news.

Your top priority while making decisions to improve tech infra in your organization?

As an online aggregator, our primary focus in on reducing the pain areas in the customer’s journey to procure a financial services product, whether be it loans or investments. All our investments in IT infrastructure are directed at achieving the dual objectives of improving our customer service and delivery as well as building business processes that are agile and flexible.

In today’s fast-paced, competitive environment, our endeavor is to build an IT infrastructure that minimises the cycle from conceptualization of a product or service to its actual launch and allow us to add new features and offerings frequently. We are also focusing on building data mining capabilities to provide customized offers to our customers.

Challenges you face in driving digital transformation?

Digital transformation for us it to be future ready and meeting our vision of being a truly customer-centric organisation. While we have a strong existing team with rich knowledge of our current business processes, there is a regular inflow of new talent which brings with itself the latest technological know-how.

As management, we are constantly striving towards creating a blend of these two teams in a manner that is optimal to achieving our business objectives. On a similar note, existing solutions worked well in the past, tend to get inflexible with numerous moving parts and hence, present a challenge of upgrading to new solutions with minimum business disruption.

Do you feel that fresher’s in the industry come with only basic knowledge but don’t have the right skills to fulfill job requirements? If yes, your suggestion to students and colleges?

While it is true, freshers in the industry lack practical or business skills, yet we believe that they can bring unmatched value to an organization with their fresh minds and perspective. As a responsible organization, we try to devote the required time and patience to hone the skill sets of promising freshers.

At MyLoanCare.in, we try to maintain a healthy blend of freshers and experienced professionals. Our suggestion to colleges is to equip the students with not only basic knowledge but also enable them on multiple dimensions which include the right life skills such as hard work, originality, drive to learn as well as improve industry interaction as a part of their curriculums.

What’s your mantra to become successful in life?

I believe in determination, self-confidence and maintaining a mental equilibrium.

What would you like to give back to society?

I think it is our moral obligation to share our wealth; be it materialistic or knowledge that others may lack. My entrepreneurial journey has taught me a lot and hence, I would like to mentor/guide startups to execute their ideas and accelerate their growth trajectory.

Your favorite book and what are you reading now?

My favorite book is Multipliers: How the Best Leaders Make Everyone Smarter by Liz Wiseman. This book is about productivity and motivation with the team. Recently I have started reading Creativity by Ed Catmull which is again about effective leadership.

What do you enjoy doing in your spare time?

Spending time with family, especially designing robots with my son and catching up with the latest news

Experience

Around 18 years of experience in systems and business processes. Worked both with domestic and international clients like Ranbaxy, Mahindra, Unilever.

First Job - As a consultant with Mahindra consulting into business process automation.

Education - B.E from Delhi College of Engineering and MBA from NITIE

Take a look at the previous CxO of the Week