Our key focus areas include banking, financial services, telecom, and increasingly digital natives. These continue to be the data’s and digital journeys’ most ravenous producers and users. Hoonartek is in a good position in terms of the domain with new fintechs and payment banks, says, Hoonartek Global CEO Peeyoosh Pandey in a free-wheeling interaction with Sanjiv Jasrotia.
As India is going through the digital transition. We have witnessed a tremendous revolution in technology. What is your experience so far since your entry into the market?
The digital revolution is here, and it is backed by the infrastructure provided by NPCI and UIDAI / India stack. The availability of Aadhar and UPI has made the adoption much quicker. The pace of adoption of changes has seen a sea change over the last 10 years since I returned from the US in 2013. The focus and customer centricity and digital experience have become top priorities for most enterprises. Hoonartek is involved and advising our fintech partners to architect and deploy products to digitalize the end-to-end journey. We have seen tremendous uplift in cloud and modernization business.
So what kind of opportunities do you see for your company in the Indian market?
The current digital revolution is centred around Data and Data Monetization.Hoonartek is in a fortunate and advantageous position having invested in this space for the last 12 years and having differentiated offerings which customers can leverage.
To cater to the digital, modernization, 5G and Web 3.0 opportunities, Hoonartek has partnered with best-in-class partnerships with, Ab Initio and Snowflake for core data pipeline and data cloud. For Digital Data Services we are partnering with Aerospike for caching and in-memory platforms and Solutions. With our deep connects in analytics and Lending (fraud detection, ID verification, KYC, Loan origination, collections and BRE) for fully paperless decisioning while on boarding with AI/ML data driven platforms.
What are your future investment plans to build customer-centric business opportunities?
We have built the organisation around customer centricity, and we will continue to invest in building local customer connect and advocacy teams. We are investing in adding new geographies to be closer to our customer. We are also investing in new capabilities to jointly work with customer to help them build their digital infrastructure to support these opportunities. The HCC – Hoonartek Competency Center – led by CTO organisation primary role is to keep leading the capabilities in right areas.
Hoonartek has brought in two key solutions that is focused on faster time to market and Real-time. First is “Digitwin” our real-time cloud native customer profile / 360 solution which acts as a digital brain and allows our clients to quickly offer very personal customer experiences. To build these journeys we are offering our customer “drone”, A low code platform to rapidly deploy use cases. Hoonartek also focuses on legacy transformations, to support this we have built accelerators like MigFac (Migration Factory). This is rightly suited for data, application, and software migration.
What is the core domain area of your company and how many areas your company is providing services?
The core domain areas for us are Banking / Financial Services and Telecom and increasingly digital natives. These remain the most voracious producers and users of data and digital journeys. With new fintechs and payment banks Hoonartek is rightly position in terms domain. They fit with Hoonartek’s competencies and proven track record of working with them for product engineering, turn-key solutions and Managed Services. Interestingly we have observed a significant business upside from healthcare and retail Industries. These are driven by our ability to provide scalable solutions.
What are the top challenges you currently face as a professional data provider, and howdo you go about tackling them?
The primary challenge that customers are facing today is on the primary pillars of Real time streaming Data Management holistically to covers from origination to leveraging it with AI/ML to drive bottom line growth. Hoonartek has developed niches solution, products and accelerators which help customers achieve business outcomes with
i. Faster turnarounds
ii. Reduced TCO
iii. Reduced Defects
With DigiTwin, Drone and MigFac (Migration factory) solution we are addressing these issues in a turn key manner where customers can cut the time to go to market by 50% in some cases using pre built configurable components. In fact we invite our prospects and customers to pilot these, no obligations toexperience it by themselves.
How important is the domain knowledge of the business?
Our goal is to “liberate data and empower customers”. Here the context is “data of our clients” and “empowering of their business teams”. Our clients are knowledgeable world class companies and we complement their teams to deliver solutions. The domain knowledge we bring and focus on is the ability to understand the key business problem that is dependent on Hoonartek e.g. In a bank it is quick automated decisioning for immediate disbursement, in a telco is real time customer profile for great in-app experience, in a digital native it is to quickly deploy products. Therefore, we develop domain experience to solve real-world problems for our customers that is fit with their operations, strategy, technology roadmap and budget. This to us is holistic domain knowledge and key to long term success.
Our customers have business SMEs who know their Industry inside out, we learn the problem and propose solutions, do POC to fail fast and then go live with what works. Trying to compete with customers in telling them how to do business in our assessment is sub-optimal. We also align in with big five consulting to implement problem and solution in our digital data domain and remain one of the best in class in our chosen field.
Our customers repeatedly come to us to do more, in-fact circa 70% of our business-s is from repeat orders and that is a testament to our teams ability to develop and adapt to a clients operating model / domain if you may.