‘Like Rahul Dravid, defend and play is a motto we follow'

Lulu International Exchange has unveiled innovations and adopted technologies that are driven by customer facing business strategies:

- Babu

In just 8 months, the covid pandemic has brought about years of change in the way companies across sectors and regions conduct business. The focus has dramatically shifted towards digital with the integration of services, unveiling of newer apps, etc. Banks, financial institutions and NBFCs have also joined the bandwagon in the adoption of technology.

In the Middle East, retailers were the first to get affected by the pandemic as the delivery channels came to a standstill. That triggered the need to check the strength of their delivery channels. This also applied to the exchange houses and banks in the Middle East. The difference was that Middle East organizations knew that the brick-and-mortar model would not last long, and the financial institutions in the region heavily invested in digital in 2018-2019. But this was not just about being digitally ready, it was also about creating the best infrastructure to make the transactions seamless.

“The advantage was as we invested earlier, we had the choice to pick up the right technology and partners. We didn’t fall for the hype when the pandemic hit. Things were more realistic in 2018-2019. Working across the globe, we understood that it is not about identifying a technology or signing an agreement, but the work starts after that. Every business is unique, and customization is required,” says Joseph Cleetus, Head of Business Transformation, Lulu International Exchange.

Now, it is all about customer experience, he adds, maintaining that to formulate the right customer experience, the journey should start while identifying the technology partner. It is imperative to get the right partner who shares the customer experience mindset.