In an interview with Rajiv Chandna, Grab Financial Group’s head of growth, business development and strategy, The Asian Banker delves into the financial service provider’s cooperation with banks, its partnership approach and what is in the pipeline for 2019.
July 30, 2019 | Foo Boon Ping
- Rajiv Chandna discusses how Grab is keeping its business distinct
- Consolidating Grab's platform with their partner banks
- The short, medium, and long-term goals of the company
It was back in March 2018 when Grab Financial – which offers different kinds of services: payments, loyalty, financial, agent – was launched in Southeast Asia. At the same time, Rajiv Chandna, a former senior director for strategy in Standard Chartered Bank in Singapore, joined Grab’s new fintech platform as head of its growth, business development and strategy division.
Chandna’s more than a decade of professional history, which includes working for AIESEC – a non-governmental, not-for-profit organization – Cadbury Plc, UBS Investment Bank and the Boston Consulting Group prepared him to take part in Grab’s mission, which is to expand its financial inclusion in Southeast Asia.
More than a year after joining Grab Financial, Chanda talks about key milestones they have achieved and the steps taken to overcome the challenges they continuously face.
Here is the transcript:
Boon Ping: Why don’t we start with the genesis of Grab Financial Group?
Rajiv Chandna: I guess the story is embedded as all of the Grab stories in our drivers. As we started to scale our transport, our food, our mobility business, we started hitting roadblocks very quickly. Our drivers couldn’t get loans, our drivers were not allowed to open bank accounts. We couldn’t send money, we couldn’t settle with our drivers the next day. All these issues.
The genesis of all is that we’ve struggled to scale our business and from the transport side, we had a unique angle on the underserved and unserved market, from Grab Financial Services’ standpoint. Very quickly, for the founder’s vision was we had this huge opportunity. We’ve got so many ...
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