Varun Jhaveria: A Young Finance Doyen Bringing In Revolutionary Reforms Across BFSI
Varun Jhaveri
Founder & CEO
The industry’s young finance expert comes with over 13 years of experience in the BFSI industry exercising in the areas of Debt and Equity Market. His keen exposure to the industry has affirmed him to be an expert across the Debt Funding and Financial Consultation fragment of BFSI sector.
Throw some light on your professional back ground and experience. What inspired you to venture into the BFSI domain and what drives you today?
I was always interested in the Finance Space from early college days. Post schooling, I took up graduation in B.com with specialization in Accounting & Finance. My first job was in Equity Markets. Post that I did my MBA in Finance and joined Yesbank in their Corporate Banking Division. Post serving five years in Yes bank, I joined HSBC Corporate Banking. After being a part of the Banking industry for eight reverent years, I decided to start my own venture BankYatri. (MCube Finance Consulting Group). Mcube Finance Consulting Group provides Corporate Loan Consulting, CFO Consulting as well as Retail Loans. Its Retail Loan division is known as BankYatri which offers Loan Agai
nst Property, Business Loans and Personal Loans.
Every day is a new day with new challenges which drives me. As we are in finance field which itself is a huge area, where everyday a different type of loan requirement comes up, we decide what is good or bad for the client with the help of our past experience and expertise, while keeping the present scenario in mind.
What were the major challenges you have encountered so far in your journey? What did you learn from them and how did you overcome them to emerge as a successful professional?
I stared my journey as an entrepreneur in the end of 2019. Post that, Covid hit the world, and everything was closed. From being a salaried individual for 10+ years, having a monthly income inflow to a time where there is a no income clarity for the current month also, was a big challenge. However, belief in my abilities and the business model along with patience really helped me overcome the biggest challenge in my life.
In your professional journey so far, which are the milestones that bestowed you with utmost satisfaction both as an individual and as an industry leader?
For me every loan we do, be it a Home loan of INR 1cr to a corporate loan of INR 100cr both have different challenges. But, when we get the loan sanctioned from a Bank and disbursed at the terms we have anticipated, there is a sense of pride & satisfaction.
When we started BankYatri, I remember when we closed our first deal my satisfaction level was the highest. It not only gave a boost to my confidence but also validated my hardwork.
Reflect on some of the major projects you have worked on so far. What did you learn from them and how are you implementing that
Every day is a new day with new challenges which drives me. As we are in finance field which itself is a huge area, where everyday a different type of loan requirement comes up, we decide what is good or bad for the client with the help of our past experience and expertise, while keeping the present scenario in mind.
Every leader needs to take decisions based on his/her goals. Every decision he makes should be based on what short term and long term goals they want to achieve
What were the major challenges you have encountered so far in your journey? What did you learn from them and how did you overcome them to emerge as a successful professional?
I stared my journey as an entrepreneur in the end of 2019. Post that, Covid hit the world, and everything was closed. From being a salaried individual for 10+ years, having a monthly income inflow to a time where there is a no income clarity for the current month also, was a big challenge. However, belief in my abilities and the business model along with patience really helped me overcome the biggest challenge in my life.
In your professional journey so far, which are the milestones that bestowed you with utmost satisfaction both as an individual and as an industry leader?
For me every loan we do, be it a Home loan of INR 1cr to a corporate loan of INR 100cr both have different challenges. But, when we get the loan sanctioned from a Bank and disbursed at the terms we have anticipated, there is a sense of pride & satisfaction.
When we started BankYatri, I remember when we closed our first deal my satisfaction level was the highest. It not only gave a boost to my confidence but also validated my hardwork.
Reflect on some of the major projects you have worked on so far. What did you learn from them and how are you implementing that
knowledge across your current operations?
I think the biggest strength and weakness of any company specially in the service business is its employees. The way employees work will make or break your business. I have worked on multiple types of loans and what I have tried to teach my team is that the most important thing in our business is ‘Trust’. Our business is not sanctioning a loan but our business is giving financial advice to the client and executing that advice. Follow this thumb rule and you will make ‘a customer for life’.
How do you keep up to date with changes in BFSI sector trends to steer your organization towards the future?
BFSI is slowly & steadily moving from an offline model to an online model. Customers want everything online. That is and will be the future.We have started with a traditional model of brick and motor, but are now moving towards an online model. We have set up an online Rate comparison sheet for different type of Retail loans so that a customer can easily understand the rate that may be offered to him.
Share a piece of advice/suggestion to the budding leaders who would like to set a benchmark in their career?
Every leader needs to take decisions based on his/her goals. Every decision he makes should be based on what short term and long term goals they want to achieve. So, the most important thing in any leader’s career is setting up definite goals.
Varun Jhaveri, Founder & CEO, BankYatri
Currently, the Founder of BankYtri, Varun is an expert in Debt Funding & Financial Consultation, and carries over 13 years of professional experience working with multiple Financial Institutions like HSBC, Yes bank and Ambit Capital accomplishing successful business growth, across various sectors.
Hobbies:Cricket and Football
Favorite Cuisine:North Indian
Favourite Book: Kane and Abel - Jeffrey Archer
Favourite Travel Destination: Any new Destination where I haven’t been
I think the biggest strength and weakness of any company specially in the service business is its employees. The way employees work will make or break your business. I have worked on multiple types of loans and what I have tried to teach my team is that the most important thing in our business is ‘Trust’. Our business is not sanctioning a loan but our business is giving financial advice to the client and executing that advice. Follow this thumb rule and you will make ‘a customer for life’.
How do you keep up to date with changes in BFSI sector trends to steer your organization towards the future?
BFSI is slowly & steadily moving from an offline model to an online model. Customers want everything online. That is and will be the future.We have started with a traditional model of brick and motor, but are now moving towards an online model. We have set up an online Rate comparison sheet for different type of Retail loans so that a customer can easily understand the rate that may be offered to him.
Share a piece of advice/suggestion to the budding leaders who would like to set a benchmark in their career?
Every leader needs to take decisions based on his/her goals. Every decision he makes should be based on what short term and long term goals they want to achieve. So, the most important thing in any leader’s career is setting up definite goals.
Varun Jhaveri, Founder & CEO, BankYatri
Currently, the Founder of BankYtri, Varun is an expert in Debt Funding & Financial Consultation, and carries over 13 years of professional experience working with multiple Financial Institutions like HSBC, Yes bank and Ambit Capital accomplishing successful business growth, across various sectors.
Hobbies:Cricket and Football
Favorite Cuisine:North Indian
Favourite Book: Kane and Abel - Jeffrey Archer
Favourite Travel Destination: Any new Destination where I haven’t been