Two Billion dollars & still going strong...
“A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us an opportunity to do so.” ? Mahatma Gandhi
Ajay Kumar and his work at Global Financial Services Ltd. has epitomized Mahatma Gandhi’s philosophy of putting the customer first. “Customer is God,” he says.
From humble beginnings on March 5, 1999 when customers questioned their capacity and presence a year from then, to being the market leaders and providing over NZD 2 billion worth of loans to clients, Ajay Kumar and GFS has come a long way, he is now one of the top insurance advisors in the country.
A very serious man, and labourious like the bees Ajay Kumar, has seen time tick along slowly. His memory and recall ability, remembering incidences and customers at will, is almost on par with his in house developed CRM software that has given him the edge over the market.
He remembers how people questioned their stability and poked whether they will be behind their tall promises in the years to come, what if they desert them and go. Over the years he has most certainly quashed those apprehensions and doubts about their presence and ability to deliver what they promise.
In the 15 years that they have been in establishment, no one has come near the kind of business they have been able to provide, especially to the Indian community. Businessman, doctors, restaurant operators, lawyers, professionals from all walks of life have benefitted from GFS work in the mortgage and insurance sector, with most banks, and thousands of clients Ajay Kumar and GFS enjoys a numero uno position in terms of customer satisfaction. “When a bank sees papers forwarded from GFS they are happy to take the case, as they are assured it is a good clear case,” he adds, “a case of high quality.”
The journey has certainly not been easy and like bouquets brickbats have followed too, recounting an incident from 2008, when a competitor filed a complaint with the highest Advertising Standards Authority challenging their promise to the customers to reduce the term of the mortgage and saving them interest.
“The journey has not been an easy one, but my philosophy of keeping the customer informed and being honest with them has pulled me through,” says Mr. Ajay Kumar.
The courts upheld GFS’s position on the case and adjudged that,” the information could not be imparted any more simplistically while still remaining accurate” and further, was truthful and accurate observing high standards of social responsibility.
Mr. Kumar maintains that it has been his devotion to his clients that has made the relationship so fruitful for both parties. The unassuming and humble Mr. Kumar has a very reassuring way of dealing with his clientele. He makes sure that his company goes the extra mile to understand what is it, the client needs.
He says, sometimes it is the case of mere communication, or presenting the case properly, on others reassurance of help when it comes to claims, or addressing queries on much simpler things. Then there was a general opaque wall against Indians not being investors, thus many were reluctant to offer them the funds. But now things have changed and the same business class Indian is being wooed all over.
Initially, Indian cultural understanding, gained from a vast banking experience in India helped. It was difficult to get loans approved, but then his sound financial expertise and educational qualifications kept him in good stead.
Ajay Kumar said, “no one was willing to touch the Indian clients, back then” and now as they are flourishing, adding volumes every day, now everyone wants their business.
It helps by dealing with customers case by case, customizing and personalizing has been the catchphrase of this Indian business. A rare smile breaks on his face when he says that I even have a 2nd generation of my clients now looking to me and doing considerable business with me.
On asking him what is the value proposition that they at GFS offer people, it is the fact that most people don’t advise their customers on how to finish the loan; that is the extra help they get from GFS. As we advise them case by case, depending on their capacity to finish the loan. This eventually saves them interest. With us educating the client on these factors they return to us. We don’t sell and disappear. We make sure we are constantly supporting the client. Besides the in house developed software technology, helps us stay on top of all oncoming dates and deadlines. Talking about the CRM system, Mr. Ajay Kumar said, “it is one of the best in the business.”
He boasts of a 100% record in the life insurance segment of claim settlements. We assist our clients not just when deciding the policy but are there to give them confidence and assist them with their claims as well, said Mr. Kumar.
The recent ANZ award for best advisor in ‘commercial banking’ segment, and being previously awarded for the ‘highest business in the whole country’ are among the many laurels to his credit.
The efforts of Mr. Kumar being recognized doesn’t make him any less assure, with heaps of awards lining up his walls, but he personally gives little value to the awards stating that, “it is the customer that is of more value”, it is their testimonials and their word of praise that keeps his business growing.
“My service has been about listening to the customer, being honest with them and most importantly fulfilling their needs,” said Mr. Kumar.
Taking up challenges and wriggling through them is not his style, he has always outperformed and done it with ease. Touching a billion dollar in business in 2009, and more than doubling it in less than 5 years he has continued to add to golden feathers to his hat.
Mr. Ajay Kumar, has also presented before the Hon. Prime Minister John Key, his recommendations for the New Zealand economy to become a net lender from its current debt ridden position. His inputs were well received and have even been reflected in the past budgets.
The confidence in his knowledge is also a partial reason to his success, the courage he exudes has been as a result of “my education and back ground,” he said.
He continued to acquire local knowledge and qualifications required to excel in the business in Australasia. For instance his fellowship at the FINSIA, or not simply being a registered advisor but practicing the economic advice over broadcast media like Radio Tarana. Previously, he had worked in the Indian banking industry for 21 years, before moving to New Zealand.
Among his other feats what goes unnoticed is his continued service to the Indian community. The Takanini, Manurewa and Tauranga gurudwaras, among other religious and cultural centers have benefitted from his services in times of distress.
The near future will see us expanding in space and the office infrastructure being built will be one of the best in the country, his world vision drawing ideas from shops and streets of Tokyo and Hawaii. Mr. Ajay Kumar with a straight face adds that, his clients need more space.
In terms of more intangible future growth his young entrepreneurial son, Aseem, has joined his business after completing his MBA from ISB, Hyderabad and the Wharton School of Business. A very sober, serious young man, much like his father, was awarded the ‘Best Young Entrepreneur of the Year’ at the Indian Business Awards.
“Finance is a fuel” not just for the immediate personal growth, but for the betterment of society in the long term, and Mr. Ajay Kumar believes he has always striven to deliver to his clients with the utmost devotion, he stills welcomes each one with his heart kindling a lamp to the Gods that have graced his premises.
“A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a...
“A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us an opportunity to do so.” ? Mahatma Gandhi
Ajay Kumar and his work at Global Financial Services Ltd. has epitomized Mahatma Gandhi’s philosophy of putting the customer first. “Customer is God,” he says.
From humble beginnings on March 5, 1999 when customers questioned their capacity and presence a year from then, to being the market leaders and providing over NZD 2 billion worth of loans to clients, Ajay Kumar and GFS has come a long way, he is now one of the top insurance advisors in the country.
A very serious man, and labourious like the bees Ajay Kumar, has seen time tick along slowly. His memory and recall ability, remembering incidences and customers at will, is almost on par with his in house developed CRM software that has given him the edge over the market.
He remembers how people questioned their stability and poked whether they will be behind their tall promises in the years to come, what if they desert them and go. Over the years he has most certainly quashed those apprehensions and doubts about their presence and ability to deliver what they promise.
In the 15 years that they have been in establishment, no one has come near the kind of business they have been able to provide, especially to the Indian community. Businessman, doctors, restaurant operators, lawyers, professionals from all walks of life have benefitted from GFS work in the mortgage and insurance sector, with most banks, and thousands of clients Ajay Kumar and GFS enjoys a numero uno position in terms of customer satisfaction. “When a bank sees papers forwarded from GFS they are happy to take the case, as they are assured it is a good clear case,” he adds, “a case of high quality.”
The journey has certainly not been easy and like bouquets brickbats have followed too, recounting an incident from 2008, when a competitor filed a complaint with the highest Advertising Standards Authority challenging their promise to the customers to reduce the term of the mortgage and saving them interest.
“The journey has not been an easy one, but my philosophy of keeping the customer informed and being honest with them has pulled me through,” says Mr. Ajay Kumar.
The courts upheld GFS’s position on the case and adjudged that,” the information could not be imparted any more simplistically while still remaining accurate” and further, was truthful and accurate observing high standards of social responsibility.
Mr. Kumar maintains that it has been his devotion to his clients that has made the relationship so fruitful for both parties. The unassuming and humble Mr. Kumar has a very reassuring way of dealing with his clientele. He makes sure that his company goes the extra mile to understand what is it, the client needs.
He says, sometimes it is the case of mere communication, or presenting the case properly, on others reassurance of help when it comes to claims, or addressing queries on much simpler things. Then there was a general opaque wall against Indians not being investors, thus many were reluctant to offer them the funds. But now things have changed and the same business class Indian is being wooed all over.
Initially, Indian cultural understanding, gained from a vast banking experience in India helped. It was difficult to get loans approved, but then his sound financial expertise and educational qualifications kept him in good stead.
Ajay Kumar said, “no one was willing to touch the Indian clients, back then” and now as they are flourishing, adding volumes every day, now everyone wants their business.
It helps by dealing with customers case by case, customizing and personalizing has been the catchphrase of this Indian business. A rare smile breaks on his face when he says that I even have a 2nd generation of my clients now looking to me and doing considerable business with me.
On asking him what is the value proposition that they at GFS offer people, it is the fact that most people don’t advise their customers on how to finish the loan; that is the extra help they get from GFS. As we advise them case by case, depending on their capacity to finish the loan. This eventually saves them interest. With us educating the client on these factors they return to us. We don’t sell and disappear. We make sure we are constantly supporting the client. Besides the in house developed software technology, helps us stay on top of all oncoming dates and deadlines. Talking about the CRM system, Mr. Ajay Kumar said, “it is one of the best in the business.”
He boasts of a 100% record in the life insurance segment of claim settlements. We assist our clients not just when deciding the policy but are there to give them confidence and assist them with their claims as well, said Mr. Kumar.
The recent ANZ award for best advisor in ‘commercial banking’ segment, and being previously awarded for the ‘highest business in the whole country’ are among the many laurels to his credit.
The efforts of Mr. Kumar being recognized doesn’t make him any less assure, with heaps of awards lining up his walls, but he personally gives little value to the awards stating that, “it is the customer that is of more value”, it is their testimonials and their word of praise that keeps his business growing.
“My service has been about listening to the customer, being honest with them and most importantly fulfilling their needs,” said Mr. Kumar.
Taking up challenges and wriggling through them is not his style, he has always outperformed and done it with ease. Touching a billion dollar in business in 2009, and more than doubling it in less than 5 years he has continued to add to golden feathers to his hat.
Mr. Ajay Kumar, has also presented before the Hon. Prime Minister John Key, his recommendations for the New Zealand economy to become a net lender from its current debt ridden position. His inputs were well received and have even been reflected in the past budgets.
The confidence in his knowledge is also a partial reason to his success, the courage he exudes has been as a result of “my education and back ground,” he said.
He continued to acquire local knowledge and qualifications required to excel in the business in Australasia. For instance his fellowship at the FINSIA, or not simply being a registered advisor but practicing the economic advice over broadcast media like Radio Tarana. Previously, he had worked in the Indian banking industry for 21 years, before moving to New Zealand.
Among his other feats what goes unnoticed is his continued service to the Indian community. The Takanini, Manurewa and Tauranga gurudwaras, among other religious and cultural centers have benefitted from his services in times of distress.
The near future will see us expanding in space and the office infrastructure being built will be one of the best in the country, his world vision drawing ideas from shops and streets of Tokyo and Hawaii. Mr. Ajay Kumar with a straight face adds that, his clients need more space.
In terms of more intangible future growth his young entrepreneurial son, Aseem, has joined his business after completing his MBA from ISB, Hyderabad and the Wharton School of Business. A very sober, serious young man, much like his father, was awarded the ‘Best Young Entrepreneur of the Year’ at the Indian Business Awards.
“Finance is a fuel” not just for the immediate personal growth, but for the betterment of society in the long term, and Mr. Ajay Kumar believes he has always striven to deliver to his clients with the utmost devotion, he stills welcomes each one with his heart kindling a lamp to the Gods that have graced his premises.
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