Shriram Transport Finance Company Ltd: Adoption of Fintech
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Shriram Transport Finance Company Ltd. (STFCL), flagship company of Shriram group, India’s largest player in commercial vehicle finance is trying to transition to Fintech based model from Relationship based model in order to provide end consumers with speed, convenience, choice and savings as digital transactions had reached an all-time high of 1.11 billion in January 2018 and the digital payments were estimated to increase to US$ 1 trillion by 2023. While the company is in the midst of transitioning into a Fintech based firm, a judgement by Supreme Court of India has created additional adoption challenges for the firm. This case revolves around the challenges that STFCL will have to face while adopting FinTech within the firm and getting its customers to adopt it as well, and to come up with an appropriate strategy to make the transition from traditional payment system to Digital payments system given the kind of business model and the organizational processes used in go to market activities.
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