Bipin Preet Singh, founder and CEO of MobiKwik, has propelled the Indian digital payments app to phenomenal success. It currently boasts over 140 million users and 3.7 million vendors, thanks in part to significant events like the 2016 demonetization in India which boosted the demand for digital financial solutions.
Singh has a 15-year history in the Indian fintech sector and a unique approach towards growth. He focuses on long-term, sustainable outcomes rather than uncontrolled expansion. His experience has shown him that pursuing growth without sustainability could lead to instability.
Alongside his focus on sustainable growth, Singh also advocates for holistic development within organisations. He emphasizes building a strong foundation first, thereby mitigating the risk of instability. He firmly believes that robust compliance, strong corporate governance, and adaptability are keys to enduring business success.
In addition, Singh stresses the need for continuous improvement, investing in cutting-edge technologies, and staying ahead of the game by regular staff training. To him, understanding customer needs and integrating them into strategic planning are quintessential. He also advises businesses to avoid complacency and maintain a state of alert preparedness for any unfolding circumstances.
Transparency and high ethical standards are, in Singh’s view, paramount in fostering long-term relationships with stakeholders. These are among the principles he applied to guide MobiKwik through crisis situations; unflinching vigilance, clear communications, and ethical practices have shaped the organisation’s competitive edge.
Singh’s leadership encourages a timely response to market changes, maintaining MobiKwik’s relevance in the rapidly evolving fintech sector. By fostering a culture of trust and transparency, and a customer-centric approach, MobiKwik continues to reinforce its stand in the industry and boost its growth.
Singh emphasises the importance of effective communication during crises to guide the company and ease employee anxieties. His proactive and responsive management strategies play a crucial role in overcoming turbulent times and keeping team morale high.
Profiling the future of India’s fintech industry, Singh predicts a shift towards hyper-personalization, accommodating India’s linguistic diversity. MobiKwik plans to stay at the forefront by tailoring its services to the unique needs of each local area, which will enhance the inclusivity of financial technology services across India.
