Suryoday Small Finance Bank (SSFB) is expanding its footprint by tying up with ex-bankers for a partnership-led outlet model. The bank on Wednesday announced the opening of its first partnership led outlet in Chennai. Baskar Babu, MD & CEO of Suryoday Small Finance Bank, said, “We are delighted to open our first partner-led banking outlet by partnering with ex-bankers, thereby fostering partnership and entrepreneurship. At Suryoday, strong governance, transparency and superior customer experience are non-negotiable and we believe that these partners, who have been ex-bankers, would help bring in more ideas on servicing and understanding the customer needs. This is a unique business model.” The ‘entrepreneur’ will have the freedom to manage the outlet with his own staff. It would have flexible banking hours depending upon the area in which it operates.
In the first year of operation, the endeavour has been about getting the basics right, he said. “In the next financial year, we will be focusing on conversion of our 216 microfinance branches into banking outlets. We want to deepen the relationship with our customers and move from being lenders to wealth creators for them,” he added.