Venkat Raman –
If this report were to appear next month, figures relating to the performance of Global Financial Services Limited (GFSL) would be markedly different, denoting higher levels of growth, productivity and customer satisfaction.
However, one factor would remain unchanged- GFSL would be the Number One Indian Mortgage Adviser and Insurance Adviser, and among the top two or three in the country.
We would undoubtedly run another story with the latest figures, for achievements of such companies are not only a matter of pride to the Indian community but also a source of inspiration to others.
The Company’s performance as at March 5, 2015, the day of its 16th anniversary, was a further indication of the progress registered over the previous 12 months. Mortgage loans arranged was in excess of $3 billion while the insurance premium written for its growing clients was more than $2.5 billion.
Managing Director Ajay Kumar was justifiably pleased when he addressed a media conference on March 6 at his office in Mangere, Auckland.
Early repayment
“GFSL focuses on helping its customers finish their mortgage quickly rather than just arranging the loan. Some of our customers became mortgage-free in seven years, compared to the standard 30-year term that banks provide,” he said.
Mr Kumar has evolved a special formula that he applies to his customers for early liquidation of their mortgage loans. While its contents remain confidential between GFSL and its customers, factors such as income, ability to repay, propensity to save and other economic and domestic factors influence the repayment process.
Customers say that ability to pay-off their first mortgage enables them to obtain loans for purchase of second or third homes and follow the same process of early repayment.
Assured Accountability
While client privacy is fiercely guarded, Mr Kumar is among those who believe in open door and good accountability policy. He speaks on Radio Tarana regularly, clarifies doubts and answers questions from listeners, bringing the benefit of his expertise and experience to hundreds of thousands of listeners, many of who may not be his clients.
“The benefit of good management of domestic budget should be available to all. People are provided the first opportunity to go through a detailed agreement, choose the bank for their loan application and understand their obligations. There is no cause for ambiguity and we always place our customers above all other interests,” he said.
Innovative system
Keeping pace with technology to provide quality services punctuated by accuracy is among the finest attributes of GFSL. The company has developed its own CRM System, which Mr Kumar said, “captures a 360 degree view of customers’ financial position, services purchased, review dates of their financial position and products and services that may be needed in the future.”
Awards & Citations
The Company’s high standards of service backed by integrity and honesty have yielded impressive results. GFSL has received several honours over the years, including the ‘Top Advisor of the Year’ of ASB, ‘Business & Commercial Adviser of the Year Award’ ANZ and ‘Top Insurance Adviser of the Year’ by AIA New Zealand.
Last year, the ‘New Zealand Mortgage Mag’ recognised GFSL as ‘New Zealand’s Top Single Mortgage Adviser.’
The Company has been a consistent winner at the Indian Newslink Indian Business Awards over the years including the Supreme Business of the Year Award, in addition to individual categories of ‘Best Small Business of the Year,’ and ‘Business Excellence in Marketing.’ Mr Kumar’s son Assem won the ‘Best Young Entrepreneur of the Year Award’ in 2010.
Community responsibility
GFSL participates in a number of community projects and programmes, discharging its responsibility towards the community. These include the Title Sponsorship of the ‘Indian Newslink Indian Sports Awards,’ ‘Fiji Day’ organised by Radio Tarana and ‘Holi Festival’ conducted by the Sikh community.
“We have a large Fijian community in New Zealand and many of its members are our customers. Our sponsorship of such events takes us close to our people. We are privileged to have such associations,” Mr Kumar said.
Healthy Competition
According to him, competition is the most important aspect of consumption, because it provides consumers with choice and enables them to exercise that choice to demand the best from those offering products and services.
“It encourages companies to innovate, diversify, improve the quality of products and services and offer them at affordable prices. A market with healthy business practices emerges for the benefit of everyone in the community and the country,” Mr Kumar said.
Mr Kumar is proud of his team of professionals who listen to the needs of customers and provide tailor-made solutions suitable to each of them.
“It is team work that enables us to offer uncompromising quality products and services. I believe that our greatest strength is our people and the most important people are our customers. That in itself would vindicate my belief that challenges do not deter those who function with commitment and determination,” he said.
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The picture appearing here is a collage of the Indian Newslink Indian Business Awards ceremonies held in 2009, 2010 and 2012 at which Global Financial Serivces Limited received a number of ‘Business Excellence Awards.’ Prime Minister John Key and the then Leader of the Opposition Phil Goff respectively congratulate Ajay Kumar his son Assem, watched by Auckland Mayor Len Brown and BNZ Chairman John Waller.
