The technological advancements that have been initiated by GreenSky Credit have no precedence in the finance and lending industry. The technology that the organization has invented under the leadership of Zalik David has astonished a lot of industry players in the manner that it has grown popular. This technology involves a platform on the internet that has enabled successful communication between the merchants, creditors, consumers and the contractors to interact, all with a common intention of transacting business. This has been after a lot of suffering by the credit consumers in the industry, where they were subjected to tedious processes to get financial assistance from the financial institutions and other creditors. The customers were also required to fill in a series of documents with details that were unnecessary for the process of loan application.
After the foundation of GreenSky Credit back in 2006, the CEO of the company decided to make the company a lender to the small creditors and a guarantor to the contractors and the merchants. This way, the organization would be able to tap customers from all these businesses and make significant profits from assisting them most appropriately. Here is how the agreement operates: The small financial lenders and the creditors may have such a large customer base that they may face difficulties in meeting their credit requirements. Instead of turning down their loan applications, they continue vetting the applicants even without having enough capital to fund them. Once the vetting is over, and the customer is proved to be creditworthy, GreenSky Credit comes in and funds the customers on behalf of the creditors.
This engagement has been quite beneficial to many lenders and merchants as they can retain their market share even during the times of financial constraints. The customers are also at an advantage because their financial needs are fully met. The online platform by GreenSky Credit has also reduced the bulk of work that the consumers and the creditors were to do to complete the loan application process. On the other hand, GreenSky Credit benefits from a small percentage that is charged on the outstanding loan balance of every customer as commission.
As a seasoned banker with more than forty years of experience in the banking industry, Anil Chaturvedi has been able to build a solid reputation for himself in the industry. Anil Chaturvedi has worked with many different financial and banking organizations in his career that has helped him gather tremendous experience in the field, and has also given him the financial insight that he uses today to help his clients. Anil Chaturvedi is often consulted on various economic and banking matters by multiple companies and banks, and his suggestions and recommendations are taken very seriously in the financial and banking fraternity.
At the very early age after the completion of his masters in business administration, Anil Chaturvedi joined the reputed State Bank of India. As the manager of business development and marketing, Anil Chaturvedi helped the New York branch of State Bank of India to generate considerable business amounting to more than $500 million in just four years. It is what helped him earn the title of man of the year at the State Bank of India. After leaving the State Bank of India in 1991, he went on to join as Vice President of US Operations at ANZ Grindlays Bank. He went on to be associated with the ANZ Grindlays Bank for the next couple of years before moving on to join Merrill Lynch, where Anil Chaturvedi continued to work for the next seventeen years. It marked the golden period of his career, where he not only learned more about the banking world but was able to join the senior ranks in the global banking industry.
Anil Chaturvedi currently works for the Hinduja Bank, Switzerland, where he is positioned as the bank’s Managing Editor. Anil Chaturvedi has helped the bank with its popularity through the unique and effective marketing strategy and has also tried successfully in bringing more business from the Indians settled in Europe. He is also trying to bring more European Businesses to India as the trade laws in India have reformed in the last couple of years, and have become much more flexible than earlier.