Khalti - An App for the Youth, By the Youth!
Khalti stands as a testament to the dynamism and innovation of Nepali youth. Focusing on a younger demographic, the brand aspires to craft its identity as an 'App for the Youth, By the Youth'. The young team at its core is determined to position Khalti as a lifestyle choice, thereby becoming an integral part of people's daily lives. In light of Khalti's endeavors, BrandGuff sat down with the Chief Marketing Officer at Khalti, Avinash Gupta, to discuss the affairs of the Fintech industry of Nepal.
Avinash Gupta embarked on his professional journey after completing his education in India. After working for numerous companies in India, his passion for brand and marketing brought him back to Nepal in 2020 and he co-founded an agency. He joined Khalti in 2021, bringing with him a wealth of experience and a visionary approach.
Building a Fintech Ecosystem
The brand and marketing scope of fintech platforms extends beyond their common perception as digital payment tools. With a larger picture in mind, Khalti aims to build a comprehensive ecosystem. This ecosystem comprises brand partnerships, merchant aggregation networks, payment gateways and agent networks. As such, it becomes a platform for integrating brands, This approach creates a symbiotic relationship, enhancing user experience while fostering collaboration between various stakeholders in the digital space.
The Digital Wallet Advantage
Despite a lot of comparison with mobile banking, digital wallets like Khalti provide a hassle-free experience and innovative financial services with a user-friendly interface, eliminating the need for physical visits to the banks. Moreover, fintech companies possess the expertise to address the intricate digital needs of businesses, a challenge that traditional banking systems often need help with. For instance, integrating QFX Cinema's tickets or a live event into a fintech app would be a relatively easier task for companies like Khalti than for banks that are focusing on other priorities like lending and deposits.
The State of Fintech Affairs in Nepal
Nepal's fintech landscape is bustling with several platforms that have emerged over the last decade. However, not all will stand the test of time. As the industry matures, specialization will become the key to survival. Fintech companies will need to focus on specific functions to maintain their brand positioning and sustain their operations. Considering this, Khalti has aspired to become a go-to platform for digital consumers with its youth-centric approach and lifestyle-based brand positioning.
In conclusion, Khalti's advent epitomizes the innovative spirit of Nepali youth and their ability to revolutionize the nation’s digital landscape. With the brand & marketing prowess of Avinash Gupta, Khalti has become more than just a fintech platform; it is a testament to the power of vision, determination, and youthful innovation. Khalti does not stand merely as a financial app in the nascent fintech industry of Nepal; it boasts a comprehensive digital solution catering to the diverse needs of businesses and individuals alike.