Ashish Garg, co-founder and CEO of Eltropy, has been nominated as a finalist for the American Banker Innovators of the Year for 2023. The distinguished award recognises Garg's outstanding achievements in the financial industry as well as his commitment to empowering credit unions and community banks to provide the greatest customer experience possible.
American Banker in a statement highlighted, “Ashish Garg, co-founder and CEO of digital communications platform Eltropy, was inspired to start a company that supported credit unions and community banks based on personal experience.”
According to Garg's account in the American Banker article featuring the finalists, his personal experience served as a major source of inspiration for his business career with Eltropy. He and his wife had a problem when they relocated from India to California: they had no credit history while holding well-paying jobs.
However, they were able to locate a helpful credit union in Redwood City that gave them a loan for their first house and trusted their abilities. This event inspired Garg to create a business that would equip community banks and credit unions with digital tools so they could better serve their customers.
Eltropy acquired approximately 250 new credit union and community bank customers in 2022 because of a continued emphasis on customer satisfaction, increasing the total number of these customers to a staggering 550. According to the report, Eltropy expanded its digital discussions platform by adding several new features and functionalities. These enable financial institutions to optimise processes and offer smooth and secure communication experiences to their members. They include video notary services, appointment management, co-browsing, and more.