Tag: Sandeep Wirkhare

As ISFC plans technology overhaul, Khizar Momin comes at the helm as Chief Technology officer
Business World, News

As ISFC plans technology overhaul, Khizar Momin comes at the helm as Chief Technology officer

Apr 10, 2021 by Rekha Nair 0 Comments #CTO, #ISFC, #ISFC s, #Khizar Momin, #MD & CEO, #Sandeep Wirkhare

New Delhi: As it drives across-the-board technological transformation, education sector lender Indian School Finance Company (ISFC) has appointed Khizar Momin as Chief Technology Officer (CTO). Mr. Momin will now lead the transformation by stitching together the complex financial ecosystem of schools, end-consumers, partners, and employees at ISFC. This is the second C-level induction at ISFC this year – following close on the heels of Mr. Hari Padmanabhan agreeing to join as Independent Director – to support the company’s ongoing tech transformation.

The development comes as a part of ISFC’s broader strategy to double its partner schools and disburse more than $300 million in the next three years. To meet its growth aspirations, the business model of ISFC demands heavy use of digital and cutting-edge technologies. The company’s technological influx will also add to its sustainability and credit assessment methodology, thereby decreasing the cost of credit at the same time.

It makes Khizar Momin’s more than two decades of hands-on experience in creating and developing IT infrastructures invaluable for the digital lender. He has led many digital and technology transformations, built enterprise-class IT systems, modernized the technology infrastructure, and helped organizations implement security standards like PCI DSS. He has implemented ITeS systems across diverse industries including NBFCs, Credit Cards, Auto manufacturing, and IT services.

Speaking on the development, Sandeep Wirkhare, MD & CEO, ISFC said, “We are delighted to have Khizar on board as the CTO of the company. The journey of ISFC from here on is going to take a digital turnaround. In this context, Khizar brings with him a dynamic industry experience of high-quality Digital Transformation to the table. He will optimize the project timelines and provide direction to the team for superior effectiveness.”

Khizar Momin, CTO, ISFC said, “Today, ISFC is rapidly expanding its business footprint with its foray into new geographies and product portfolio diversification. I would like to thank the board for trusting me with one of the company’s most critical projects, i.e. digital transformation, during such a crucial juncture. I look forward to creating the desired synergies with all stakeholders including employees, partners, schools, and our end-customers via forward-looking digital initiatives.”

Khizar is known for taking on the weak applications, systems, and IT operations and turning them into high-performing and sustainable models through standardization. He believes in innovations, consistent improvements, and variable cost models for IT, and creating IT teams that are equally skilled in business as well as technology. Previously, he held leadership positions across American Express, Bajaj Auto, Bajaj Finserv, and Cox & Kings Financial Service alongside others, wherein Khizar created and implemented digital strategies and technology roadmaps with finesse.

Education

26% schools have downsized staff while 62% did not deduct any salaries, finds ISFC survey

Jan 6, 2021 by Rekha Nair 0 Comments #ISFC, #MD & CEO, #Sandeep Wirkhare

New Delhi: Only 5.28% of schools have opened so far in India as 81.24% of them will partially open by January 2021, finds a survey-based study by Indian School Finance Company (ISFC). With a sample size of 2,000 schools, the study is based on two surveys from September to December and gives insight into the schooling system of India following the COVID-19 outbreak.

The study reveals that the fee collection has taken the biggest hit with 17.06% of schools reporting no collection’ this year. 59.74% of schools further claimed that their inflow was less than 40% in 2020. The decreased revenues naturally disrupted the staff and salary management with 26.49% accepting to have reduced workforce while 36.43% claimed salary reductions. However, a majority of schools stood firmly with their employees despite harsh economic conditions.

A key takeaway of the study was that there is a marked improvement in nearly all areas now (as per November-December study surveying 552 schools vis-à-vis September-October study surveying 360 schools). For instance, more than two-thirds or 68.10% of schools are now conducting online classes, whereas, only 40.05% schools had been doing so till October. Such factors, including economic indicators and job prospects, are expected to enhance further in the near-term.

Speaking on the survey findings, Sandeep Wirkhare, MD & CEO, ISFC said, “It is to state the obvious that 2020 was a year unlike any other. We saw paradigm-changing disruptions across the horizontal market with digital approaches replacing the conventional ones. Schools were perhaps one of the worst-hit segments as they largely rely on their physical infrastructure. The academic loss of students along with schools’ own financial shortfall was limited to an extent by conducting online classes, a trend that continues to grow. Now, when 2020 comes to a close, it’s good to know that nearly all indicators are encouraging and there are green shoots of revival.”

News

Eyeing to double partner schools, Indian School Finance Company plans to strengthens team with 100+ hires including CXOs

Dec 17, 2020 by Rekha Nair 0 Comments #ISFC, #MD and CEO, #Sandeep Wirkhare

New Delhi: Education sector lender Indian School Finance Company (ISFC) is all ready to flag of its stellar recruitment drive with over 100 across-the-board hires. The company has also initiated “Ghar Wapsi” campaign to bring back ex-ISFC employees. The campaign was flagged in Oct’20 and since then many ex-employees have rejoined the firm in various roles such as Finance manager, Cluster Business Head, Relationship Managers etc.

The recruitment drive is a part of ISFC’s objective to deepen the partner relationship by transforming the conventional business to relationship business while disbursing more than $100 million by 2022. The lender caters to schools and colleges, vocational training centers, coaching institutes, and SMEs in the education sector.

ISFC is focused at strengthening its national team by onboarding passionate 40 professionals up to the Assistant Manager level along with 20 Management Trainees having an entrepreneurial commitment, from different B-schools through campus placement drives. These recruitments will be made across Sales, Credit, Finance, Operations, Collection, HR, and Tele-Calling departments. In senior leadership roles, 2 Department Heads will join to spearhead Legal Department and Digital Product development. ISFC shall further strengthened its mid-management with 20 Managers and Senior Managers in Collection, Risk, Sales, and Customer Services.

Speaking on the development, Sandeep Wirkhare, MD and CEO, ISFC said, “The ongoing pandemic has completely transformed the education sector. Educational entities today have to confront a pivot or perish situation wherein not making core infrastructural changes can have a far-reaching impact on them. At ISFC, we have committed ourselves to the education segment and its end-to-end financial needs. We look at the recruitment drive to make the segment more robust by supporting its digital drive and capital requirement for other purposes. We are excited to welcome new joiners to the ISFC family and look forward to creating the desired synergies with them.”