On the road less travelled
“ A tough man at work, a doting father at home, a 24x7 solution seeker, an
intuitive risk taker, an ardent admirer of Nepal and a firm believer in Eternal Being”- this is how Rabindra B. Malla defines himself. A strict employer when it comes to discipline and principles, he says, he has a heart of gold in understanding the depth of any human relation – be it personal or professional.
“For me imitation is no fun – innovation is. I don’t like to walk down the beaten trail rather take the road less traveled,” remarks Malla when asked to describe the kind of work he is involved in. Malla hails from a family renowned for setting the foundation stone for various business ventures in the financial sector of Nepal. All his family businesses operate under the flagship of Alpine Group. Back in 1988, much before the commercial banks had entered the market, Alpine Card Services (Alpine Travel Services then– a private company) introduced the credit card services in Nepal in collaboration with a bank in Singapore. In 1994, Union Finance Ltd. was established as the first leasing finance institution in Nepal. More recently and more notably, in 2003, SCT Network under SmartChoice Technologies Pvt. Ltd. was pioneered by Malla which has also been accredited by the World Bank as an innovative idea.
After finishing his graduation in Banking and Finance from Philippines, Malla took over the card business. It was a challenging task for him to convince new and existing merchants to sign up for credit card services as the very concept of using plastic money was new in Nepal. “To create the market was the most arduous task. And when I approached departmental stores and other such modern outlets, the owners would simply decline to accept its relevance,” he further recalls. However, with his impeccable interpersonal skills, Malla was able to convince owners of diverse businesses to rely on credit card transactions if they wanted to see increase in their volume of sale. At present, despite having more players in the market, Malla’s firm is still the leading one in transactions done through credit cards in businesses at all levels. His company Alpine Card Services is a step ahead in the industry as it caters completely to its customers – from importing swiping machines to installing them and supervising the transactions. In 1999, Malla introduced the credit card services in Bhutan as well. Looking at the facts and figures, his company should be given due credit for the current status of the credit card and debit card market in Nepal and Bhutan.
Personal Side
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Did his schooling from Kalimpong in India
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Runs on treadmill for 45 minutes each day to release stress
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Spends seven regular hours at work
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He is a firm believer of Vaastu and his office room is oriented accordingly
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Drinks just one cup of tea each day and is an occasional social drinker
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Likes to hang around with his school and college friends
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Plays football at corporate football matches
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His wife is a renowned Stained Glass artist and an entrepreneur
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Reads Nepali newspapers and is a subscriber of the Time, Newsweek, India Today and Times of India
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Does not miss a single episode of "Tito Satya" and "Jeerey Khursani"
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Loves to karaoke
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At the age of 35, he had already finished his Char Dhaam (pilgrimage )
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With the commercial banks almost swarming the Nepali financial market, Malla felt there was an essential need for a network that would interconnect different member banks with each other. Thus, emerged the innovative idea of SCT Network – a debit card system which gave the flexibility to the customers of any of the member banks to access their account and withdraw cash when and wherever needed for a minimal fee of twenty five rupees for each transaction.
Convincing banks was an uphill task for him initially. “Most of the bank managers gave me a half-hearted nod probably because we were a private company and the business involved cash transactions,” he adds. But with his undying perseverance, patience, strong conviction and sincere commitment, he was able to convince them and win their trust. Once on the roll, there was no looking back for him. Now SCT has grown into a large network with 45 member banks and other institutions along with 0.4 million plus card-based customers. When he started the SCT Network, there were barely 3 ATMs in Nepal and 5 years down the road there is an ATM at almost every nook and corner of the capital, totaling to 260 plus ATM counters all across the nation from far east to the far west.
In order to act as an efficient transaction bridge between banks, Malla has invested heavily in inimitable software and hardware which maintain the SCT network through a secure channel with quick transaction period. “If customers cannot withdraw money within 10 seconds from an ATM counter, they start to fume!” exclaims Malla. With a mere fee of Rs. 25 per transaction, a customer gets value for money, prompt service and also saves time. Carrying a SCT debit card enables a customer to withdraw money during public holidays and festivals when banks are closed. Overall, the customer’s life has been made hassle-free, less time consuming and convenient. Likewise, SCT has been able to expedite better services to its member banks by providing total solution – linking network, designing and printing debit cards, inscribing customer name and card number, latching up the magnetic identity scanner, assigning pin numbers and mailing it to the customers. “Now all that banks need to do is to issue debit cards to their customers. They don’t have to invest money in printing checkbooks and balance statements. Moreover, they can save human resources as they don’t need to create a different unit in the bank taking care of card business. We handle all the queries and problems, if any, from our office as we have 38 full-time staffs catering to the customers round the clock,” explains Malla. He proudly claims that SCT is now a household name in Nepal when it comes debit cards. If given an opportunity, he is keen to replicate the same in other developing countries as well.
Recently, Malla has been given additional responsibilities which coincide with his ultimate vision of developing the Nepali financial sector to the international standard. He has been unanimously appointed as the Managing Director of Nepal Clearing House which is striving to automate the cheque clearing function being carried out by Nepal Rastra Bank till present. Ten percent of the organization is owned by Nepal Rastra Bank while the remaining investment is made by 25 commercial banks and SCT. “Hopefully within a year, all the clearing activities of Nepal Rastra Bank will be supervised and processed electronically by this organization,” Malla informs.
With so many achievements and credentials to his name at the age of 39, when asked where he wants to be in five years down the line, Malla says he will probably retire. Just as one may find it hard to believe, he snaps back, “There come moments in life when you think this is it – I will just sit back and relax. It happens to me all the time but when a new work lands on my desk, the workaholic side of me retaliates, and I get into the whole working cycle again.”
Malla is a no-nonsense man who believes in being ‘street smart’ rather than ‘book smart.’ He recruits fresh talents and grooms them. “An inexperienced person can be trained, molded and placed into any office system but an experienced person prefers to work with his preset values and ideas. It’s not that I haven’t tried them. But I feel comfortable and more confident in hiring fresh people,” he says. Malla has traveled halfway across the world but finds no better place than Nepal to be in. When asked about the changed world context and situation, he feels that the government needs to think out of the box and bring some innovative policies for the country’s overall development.
Malla strictly believes in keeping his personal and professional lives separate and avoids discussing any business matter at home. According to him, no matter how stressful his day is, all his stress seem to vanish once he returns home to be with his sons and wife. He regards the quality time spent with his family as meditation and therapeutic. More than becoming geniuses, he hopes to see his two sons evolve into good human beings. Being a devout man, Malla goes on pilgrimage once a year and visits different temples regularly. “I am not into wearing rings and the so-called sacred stones but I believe in Eternal Being. It keeps me calm, composed and active to float over the stressful life that I have been leading,” he shares with a smile.
