By Shruti Menon Seeboo
In the rapidly evolving world of financial technology, staying ahead of emerging trends and technologies is crucial for success. Atul Bhatia, Chief FinTech Officer of blink by Emtel, shares how his company identifies and prioritises these trends to maintain its competitive edge and enhance the customer experience.
Atul said, “When we started blink in May 2022, we were the first mobile operator to propose an app that allows customers to connect different bank accounts on a single app “blink” –whether the customer is an Emtel customer or not. All the customer needs is to have a bank account, and a mobile phone connected to data.”
The features and the benefits we have provided on blink have created a lot of awareness amongst the population and increased the adoption of digital payments – whether it is users or merchants.
Atul reveals that blink by Emtel’s approach to identifying emerging trends begins with a deep dive into market dynamics, particularly focusing on consumer behaviour. “First and foremost, we focus on what is happening in the market, particularly trends in consumer behaviour,” he explains. “By analysing the behaviour of consumers using our products and combining this with additional research, we identify not only stated needs but also latent needs. This helps us develop and continuously update our product pipeline.”
To prioritise these trends and technologies, blink draws upon a range of resources. Atul outlines their strategy, stating, “We rely on studies from GSMA and FinTech forums, especially highly evolved Fintech Markets in Southeast Asia, and Africa, while also considering trends in Europe and the Western world.” He further emphasises, “Our priority is on markets that are geographically closer to Mauritius. We use insights from this research and consumer behaviour statistics from the Bank of Mauritius to prioritise our product offerings, focusing on what will add value to the ecosystem in Mauritius.”
As technological advancements continue to surge, aligning these innovations with blink’s business objectives and enhancing customer experience is essential. Atul reflects on how blink approaches this challenge: “Technology is advancing rapidly, which can sometimes be overwhelming. At Emtel, we ensure we stay at the forefront by adopting relevant technologies to our market.” He highlights the strategic decision made during the launch of blink. “When we launched blink, which was quite different from our traditional telecom domain, we identified the resources, and upskilled our core team to lead the launch.”
Atul underscores the alignment of blink’s objectives with Mauritius’s broader vision for a digital economy. “Our business objectives align closely with Mauritius’s vision to become a digital economy. The digital payment ecosystem is a crucial aspect of this.” He adds, “Besides our telecommunications advancements like 5G, Space Economy, we aim to elevate the digital payment ecosystem to world-class standards. We work closely with regulators and believe that with their support and the efforts of our team, we can drive the entire ecosystem, contributing significantly to a stronger, better digital economy in Mauritius.”
In summary, Atul’s insights illustrate blink by Emtel’s strategic approach to staying ahead in the FinTech sector. By focusing on consumer behaviour, leveraging global and regional trends, and aligning technological advancements with national goals, blink is poised to lead the way in creating a more robust digital economy in Mauritius.
