Shriram Transport Finance Company Ltd: Adoption of Fintech
Shriram Transport Finance Company Ltd. (STFCL), the flagship company of the Shriram Group, India's largest player in commercial vehicle finance is trying to transition from a Relationship based model to a Fintech based model in order to provide end consumers with speed, convenience, choice and savings. Digital transactions had reached an all-time high of 1.11 billion in January 2018 and digital payments were estimated to increase to USD 1 trillion by 2023. However, a judgement by the 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. It needs to come up with an appropriate strategy to make the transition from traditional payment systems to digital payments systems, given the kind of business model and the organisational processes used in go-to-market activities.