In the competitive realm of financial technology, onboarding new merchants, driving adoption, and staying ahead of market trends are critical tasks. Iqbal Aumjaud, Head of Business Development (FinTech) at blink by Emtel, shares his insights into how his team navigates these challenges and leverages their expertise to drive business growth. When it comes to onboarding new merchants onto blink’s platform, Iqbal emphasises the importance of understanding each merchant’s unique needs. “The main challenge in onboarding new merchants is understanding their specific needs,” he explains. “We analyse the business nature and daily operations of each merchant to customise our value proposition.”
He adds, “It’s crucial to prepare thoroughly before engaging with a merchant. After understanding their needs, we communicate clearly, especially since some people think FinTech is overcomplicated.” Iqbal stresses on the importance of transparency and a streamlined onboarding process, including handling sensitive information with care. “We aim to be transparent in our communication and explain the onboarding process clearly. It’s vital to offer personalised support once the merchant is onboarded.” Driving adoption of payment solutions among businesses requires effective strategies, according to him.
“Our strategy involves demonstrating that our solution is an easy integration that doesn’t disrupt the merchant’s daily operations. We place emphasis on the user-friendly interface of our system and ensure the security of the merchant’s funds with robust application protections regulated by the Bank of Mauritius,” he says. Iqbal also highlights the importance of customer support and maintaining a feedback loop. “Customer support is crucial; we ensure we are always available to address any issues,” he says. “Additionally, maintaining a feedback loop with the merchants helps us understand how their needs might be evolving, so we can adapt our offerings accordingly.”
To stay current with market trends and technological insights, Iqbal employs a straightforward approach. “I keep it simple. I regularly analyse the market trends to understand how they are shifting, which helps us adapt quickly to new conditions,” he explains. His extensive professional network, built over 24 years in retail and corporate markets, is instrumental in keeping him informed. “My extensive network plays a key role in keeping me informed about the market,” he shares. “This network not only provides competitive intelligence but also helps identify opportunities for innovation.” At Emtel, he notes that strong cross-functional collaboration enables the team to remain agile and responsive. “The strong cross-functional collaboration at Emtel enables us to stay agile and responsive to both opportunities and challenges in the market,” he adds.
Iqbal’s approach to using market knowledge to shape blink’s business development and strategy involves continuous analysis and innovation. “Firstly, continuous market analysis helps us understand market behaviour and adapt our solutions accordingly,” he says. “This ongoing analysis often reveals new opportunities.” He also emphasises the importance of understanding competitors’ activities. “We focus on what our competitors are doing to ensure our offerings are unique and meet unaddressed needs,” he notes. “Insights from our daily interactions with customers and merchants are critical; they keep us informed about the market’s pulse.” Innovation is central to blink’s strategy, and Iqbal underscores its importance.
His perspectives reflect blink by Emtel’s commitment to understanding merchant needs, driving adoption through seamless integration and robust support, and leveraging market insights to stay ahead in the dynamic FinTech industry. Iqbal’s approach underscores the company’s focus on continuous improvement and strategic agility in a rapidly evolving market.
