We are always amazed and awe-inspired by the inspirational leadership of, particularly, women entrepreneurs—however, one wonders from where these trailblazing feminine powerhouses draw their own inspiration.
Dipali Padia, a remarkable entrepreneur, draws her inspiration from a foundation built on resilience and a relentless pursuit of excellence instilled by her father. Her journey, guided by a spirit of unwavering determination, has been shaped by the principles of hard work, discipline, and family values.
“Upward and onwards is how I remember my father pushing me to keep performing assertively and spiritedly; now, whether this was a fall from a cycle, to slipping in academic performances, to encouraging me through his entrepreneurial journey, which involved formidable discipline concerning work orientation and always striving to keep his family steadily together,” she recalls.
With a profound desire to make a significant impact, Dipali is a visionary leader who believes in the power of entrepreneurship to solve real-world problems and pave the way for innovation.
As the President of Banking Alliances and Partnerships at Neokred, one of the driving forces behind Dipali’s entrepreneurial endeavours is the innate desire to address pressing challenges and provide ingenious solutions. Dipali’s commitment to simplifying complex processes and bridging the gap between merchants, corporates, fintechs and banks led to the formation of Banking Alliances & Partnerships at Neokred, a company she co-leads as Management. Neokred’s mission is to become the leading Technology Service Provider (TSP) and set new industry standards by offering unmatched solutions.
Being Supremely Matchless
Dipali’s aspiration to be incomparable is deeply rooted in her upbringing, where she learned that standing out and setting new benchmarks are essential elements of success. Her relentless pursuit of excellence and dedication to Neokred’s vision reflects her commitment to making a lasting and positive impact on the Indian fintech landscape.
Moreover, Dipali believes in the transformative power of businesses to effect positive change in society. Her unwavering commitment to using management artistry to create a positive social impact sets her apart as a leader with a broader vision.
Here are some specific motivations that she has seen in trailblazing entrepreneurs:
- To solve a problem. Many entrepreneurs are motivated by a desire to solve a problem they have personally experienced or seen affecting others. For example, the founders of Neokred were motivated by the simplicity they had found missing in linking the merchants, corporates, fintechs and the banks together.
- To create something new and innovative. “We as top leaders are often driven by a desire to create something new and different. We’re not afraid to think outside the box and challenge the status quo.” For example, Neokred’s primary goal is to be the most sought-after TSP for all its clients.
- To be incomparable. Dipali has been raised and conditioned to believe that to be the one everyone trusts and takes countless learnings from, the art of becoming incomparable is the foremost way to being supremely unparalleled.
- To make a difference in the world. “I’m also very motivated to make a difference in the world. I wish to use businesses to create positive social impact,” she states. For example, she and the Founders have always shared a common mindset of what more they can bring to the industry, thereby the circle it positively impacts raising the standards of an Indian Fintech company.
Passionate for Fintech
Many companies are motivated by a desire to make a difference in the world. They see a problem that needs to be solved or an opportunity to create something new and innovative to improve people’s lives. “We are also keenly driven by a passion for our field in Fintech and a desire to be incomparable and build something from scratch,” is their guiding philosophy, says Dipali.
The entrepreneurial landscape is continually evolving. When probed about how she stays adaptable and ahead of the industry trends so that Neokred continues to offer innovative solutions for their clients, Dipali says, “Let me bullet list this out for us:”
- Investing in research and development: “This helps us identify new opportunities and develop new products and services to meet the changing needs of our clients.”
- By building a culture of innovation, Dipali and her management team encourage their team members to be creative and to come up with new ideas. They create a process for evaluating and implementing new ideas quickly and efficiently.
- By monitoring industry trends: They stay up to date on the latest trends by reading industry publications, attending industry events, and networking with other entrepreneurs, bankers, corporates and other budding fintechs.
- Be willing to experiment: They are not afraid to try new things and to take risks. ‘The best way to learn is by doing.’
- By being customer-centric: They always keep their customers’ needs in mind when developing new products and services. They talk to their customers regularly to get their feedback and learn what they seek. Hence the very introduction of the ‘Customer Success Department’ in Neokred.
- Through learning and development workshops: “We always engage our workforce to learn and thereby develop a better version of everything we put our heads and hands into,” says Dipali.
The Inspirational Reflections
Dipali’s leadership style is often inspirational, and she believes this is one of the key factors behind Neokred’s success. “I believe that the best leaders can motivate and inspire their team members to achieve their goals,” she says.
In this regard, here are some of the key principles of Dipali’s approach to leadership and team building:
- Create a shared vision and mission. Dipali believes that it is important for everyone in the company to have a clear understanding of the company’s vision and mission. This helps to create a sense of unity and purpose within the team.
- Set ambitious goals. Setting ambitious goals for the company and individual team members is vital. This helps to motivate and inspire people to achieve their best.
- Provide clear feedback and direction. It is imperative to provide team members with clear feedback and direction. This helps them to understand what is expected of them and how they can contribute to the team’s success.
- Empower team members to make decisions. It is central to empower team members to make decisions. This helps them to feel more engaged and invested in their work.
- Celebrate successes. “I believe that it is essential to celebrate successes, both big and small.” This helps to boost morale and motivate the team to keep working hard.
An Illuminated Light
In addition to these general principles, Dipali believes in being a role model for her team members. This means setting a good example regarding work ethic, attitude, and commitment. It also means being supportive and understanding and willing to help team members when needed.
Dipali adds, “I feel that by following these principles, leaders can create a positive and productive work environment where team members can thrive and achieve their goals.”
She furthers that coherent entrepreneurship is the practice of running a business in a way that is aligned with the needs of customers, the environment, and society. It is a holistic approach that considers all the stakeholders involved in the business and is essential for enabling innovation and advancements in the sector.
As a leader, there are several approaches that she thinks can help to strike a balance between fulfilling customer expectations and enhancing user experience:
- Focus on understanding customer needs. The first step is to understand what customers need and want. It can be done through market research, customer surveys, and focus groups. Once you understand customer needs, you can develop products and services that meet those needs.
- Design for user experience. When designing products and services, keeping the user experience in mind is important. It means thinking about how the product or service will be used and the user’s needs at each stage of the process.
- Get feedback from users. Once you have developed a product or service, it is important to get feedback from users. It can be done through beta testing, user interviews, and surveys. User feedback can help you identify areas where the product or service can be improved.
- Iterate and improve. You should iterate and improve your products and services based on user feedback. It is an ongoing process, and it is important to be responsive to your customers’ needs.
By following these approaches, leaders can create a culture of innovation and continuous improvement that will help them to fulfil customer expectations and enhance the user experience.
Fostering a Clean Energy Future
According to Dipali, sustainability and environmental responsibility are crucial aspects of modern entrepreneurship. Companies that can integrate these principles into their operations and contribute to a sustainable future will be more successful in the long term.
Here are some ways in which Neokred integrates sustainability and environmental responsibility into its operations:
- “Reducing our waste. We have implemented several waste reduction initiatives, such as composting food waste and recycling paper and cardboard. We are also working to reduce the amount of paper we use.”
- Supporting sustainable suppliers. “We source our products and services from suppliers committed to sustainability. We also work with our suppliers to help them reduce their environmental impact.”
- Investing in innovation. “We are investing in research and development to develop new technologies and solutions that can help to reduce our environmental impact. For example, we are developing new ways to use artificial intelligence to improve energy efficiency and reduce waste.”
In addition to these specific initiatives, Dipali and her team are committed to creating a culture of sustainability within their company. They encourage employees to be environmentally conscious in their work and personal lives. They also offer sustainability training and education to Neokred’s employees.
Dipali adds, “We believe that by integrating sustainability and environmental responsibility into our operations, we positively contribute to the world. We are committed to working with our customers and partners to create a more sustainable future.”
Bridging the Divide with Technology
Sharing her views on the technological impact on her industry, Dipali says that understanding the need of the hour and building a technology that fills the gap is the only way forward. Neokred is a product and service-oriented firm. She adds, “The technology that we develop not only helps a bank or a corporation to fulfil its customers’ requirement but also provides several options for ease of integration like APIs, webhook, whitelable solution, etc.” Their technology is robust and flexible. They focus on innovation and excel in the development and go-to-market strategy.
Technology plays a pivotal role in enhancing efficiency in the realm of entrepreneurship. It can help businesses to automate tasks, streamline processes, and reach new customers. To stay ahead in the digital age, entrepreneurs must remain updated on emerging trends and leverage technological advancements to optimize their services.
Here are a few tips on how to stay updated on emerging trends and leverage technological advancements:
- Read industry publications and blogs. Several industry publications and blogs cover the latest trends in technology and business. Reading these publications can help you stay informed about the latest developments and how other companies use technology to improve their operations.
- Attend industry events and conferences. Industry events and conferences are a great way to learn about the latest technologies and trends. They also allow networking with other entrepreneurs and learning from their experiences.
- Follow industry experts on social media. Many industry experts share their insights and thoughts on social media. Following these experts can help you to stay up to date on the latest trends and learn about new technologies.
- Experiment with new technologies. The best way to learn about a new technology is to experiment. Set aside some time each week to try out new technologies and see how they can be used to improve your business.
Once you have identified the latest technologies relevant to your business, you need to develop a plan for how to leverage them to optimize your services. Here are a few tips:
- Start small. Don’t try to implement all the latest technologies at once. Start by focusing on a few key technologies that can make a big impact on your business.
- Get feedback from your customers. Once you have implemented a new technology, get feedback from your customers to see how it works. This feedback can help you identify areas where the technology can be improved.
- Be flexible. Technology is constantly changing, so it is important to be flexible and adapt to new developments. Be prepared to update your technology plan as needed.
By following these tips, entrepreneurs can stay updated on emerging trends, leverage technological advancements to optimize their services and stay ahead in the digital age.
Benchmarking Excellence in Creating a Dynamic Work Environment
According to Dipali, the workforce is the cornerstone of any successful organization. Employees are the ones who drive innovation, deliver results, and create a positive customer experience. That’s why creating a dynamic work environment where employees feel valued is so important.
“Here are some approaches that I think are benchmarking excellence in creating a dynamic work environment where employees feel valued:”
- Set clear goals and expectations. Employees need to know what is expected of them to be successful. Setting clear goals and expectations helps to create a sense of direction and purpose.
- Provide regular feedback and support. Employees need to know how they are performing and what they can do to improve. Regular feedback and support help employees stay motivated and engaged.
iii. Create a culture of collaboration and innovation. Employees thrive in environments where they are encouraged to share ideas and work together to achieve common goals. Creating a collaboration and innovation culture can help boost creativity and productivity.
- Offer opportunities for growth and development. Employees want to feel like they are growing and developing in their careers. Offering opportunities for growth and development shows employees that you are invested in their success.
- Recognize and reward achievements. Employees appreciate being recognized and rewarded for their hard work. Recognizing and rewarding achievements can help to boost morale and productivity.
In addition to these general approaches, organizations can do several specific things to create a dynamic work environment where employees feel valued. Here are a few examples:
- Offer flexible work arrangements. Flexible work arrangements, such as remote work and flexitime, can help employees to achieve a better work-life balance.
- Provide competitive salaries and benefits. Competitive salaries and benefits help to attract and retain top talent.
- Invest in employee wellness. Employee wellness programs can help employees to stay healthy and productive.
- Create a fun and inclusive environment. Employees are more likely to be engaged and productive in a fun and inclusive environment. Organizations can create a fun and inclusive environment by organizing social events, creating employee resource groups, and celebrating diversity and inclusion.
By following these approaches, organizations can create a dynamic work environment where employees feel valued. It can lead to increased employee engagement, productivity, and retention.
Triumphing Over Turbulence
As a leader in India’s corporate sector, my business endevavours faced several challenges. “However, one instance where I oriented my team’s resilience and ingenuity to triumph over adversity was during the COVID-19 pandemic,” recalls Dipali.
When the pandemic first hit, they were forced to close their offices and send their employees to work remotely. “This was a major challenge, as we had never worked remotely. However, my team quickly adapted to the new situation and found ways to continue working effectively.”
One of the biggest challenges was maintaining communication and collaboration among team members. They solved it by using video conferencing and collaboration tools. They also held regular team meetings to discuss their progress and identify any challenges they faced.
Another challenge was keeping their customers happy. “Our customers were also struggling to deal with the pandemic and needed our support more than ever. We worked hard to meet our customers’ needs and provide them with the support they needed,” says Dipali.
They also faced financial challenges during the pandemic. However, they overcame these challenges by making difficult decisions, such as reducing costs and raising additional capital.
Through the resilience and ingenuity of her team, Dipali says they overcame the challenges of the COVID-19 pandemic. “We emerged from the pandemic stronger than ever before and are now well-positioned for future growth.”
Here are some specific things that she did to orient her team’s resilience and ingenuity during the pandemic:
- Communicated regularly and transparently. Dipali kept her team informed about the situation and their plans for the future. She also encouraged them to ask questions and to share their ideas.
- Set clear goals and expectations. Even though they were working remotely, Dipali ensured her team knew what was expected of them. She also provided them with the resources and support they needed to succeed.
- Celebrated successes. “I took the time to celebrate my team’s successes, no matter how small they may have seemed.” This helped to boost morale and keep everyone motivated.
- Created a culture of resilience and innovation. Dipali encouraged her team to be resilient and to find innovative solutions to the challenges that they faced. She also created an environment wherein taking risks and failing was safe.
By following these steps, Dipali could help her team overcome the challenges of the pandemic and emerge stronger than ever before.
Being Futuristic
As per Dipali, every business goes beyond the physical realm today, touching on aspects like digital transformation, constant consumer engagement and virtual user experience. To address the critical factors of digital transformation, ongoing consumer engagement, and virtual user experience in its service offerings, Neokred takes several approaches being a fintech itself, including:
- Investing in digital transformation. Dipali says they are investing heavily in digital technologies to improve operations and create new and innovative products and services. For example, they are internally developing and implementing a new customer relationship management (CRM) system to improve customer service for internal and external customers. They are also developing new software to make it easier for the customers to interact with team Neokred.
- Focusing on customer engagement. “We are committed to providing our clients with superior customer experience. We do this by listening to our clients’ feedback and by using this feedback to improve our products and services. We also offer a variety of customer support channels, such as live chat, email, and phone support,” says Dipali.
- Creating a virtual user experience. They are working to create a virtual user experience as engaging and rewarding as the physical user experience. They are doing these using technologies such as virtual and augmented reality. “For example, we have developed a handsome, understanding demo of our products so that customers can see how easy it is to integrate and start using them to elevate business vision and goals,” informs Dipali.
By taking these approaches, they can address the critical factors of digital transformation, constant consumer engagement, and virtual user experience in their service offerings. “This helps us to provide our customers with the best possible experience.”
Dipali’s vision for Neokred is to be India’s leading digital business solutions provider. “I aspire to continue making a significant impact on India’s Digital Business Partnership landscape by helping businesses to adopt digital technologies and to transform their operations.”
Forever Fantastic
She believes that digital technologies have the potential to revolutionize the Indian economy. Digital technologies can help businesses to improve their efficiency, productivity, and customer service. They can also help companies to reach new markets and to grow their businesses.
Neokred is committed to helping businesses to adopt digital technologies and to transform their operations. “We offer a wide range of digital business solutions, including:”
- eCommerce solutions.
- Banking solutions.
- Digital finance solutions.
- Know your customer eSolutions.
- Data Analysis through artificial intelligent tools.
Neokred also offers consulting and support services to help businesses implement and manage digital solutions.
Dipali reiterates that they are committed to working with their clients to develop and implement digital (finance-related) solutions that meet their needs. “We also offer our clients ongoing support to help them get the most out of their digital solutions.”
Dipali believes that her company can significantly impact India’s Digital Business Partnership landscape by helping businesses adopt digital technologies and transform their operations. “By helping businesses to improve their efficiency, productivity, and customer service, we can help them to grow their businesses and to contribute to the Indian economy.”
Here are some specific ways in which Neokred plans to continue making a significant impact on India’s Digital Business Partnership landscape:
- Investing in research and development. They are investing heavily in research and development to develop new and innovative digital business solutions. They are also working to create solutions tailored to the specific needs of Indian businesses.
- Expanding their reach. They are expanding their reach to new cities and regions in India. They are also working to develop partnerships with local companies and organizations.
- Providing training and support. They are committed to providing their clients with the training and support they need to implement and manage their digital (finance) solutions successfully. They offer a variety of training programs and support services, including online training, in-person training, and technical support.
Dipali concludes, “I believe that by taking these steps, Neokred can continue to make a significant impact on India’s Digital Business Partnership landscape and help businesses to adopt digital technologies and to transform their operations.”
