“A journey of a thousand miles begins with a single step” – an ancient Chinese proverb
The banking sector in India is the backbone of Indian Economy whose operations are possible due to lacs of employees working in Banking and Finance sector, getting promoted banks often encourage employees to get certification under JAIIB and CAIIB which are courses of the Indian Institute of Banking and Finance (IIBF), Today we are putting here the story Mr. Tanweer an Ex- Banker from Bihar now turned Entrepreneur running his startup MyOnlinePrep.com which provides exclusive curated study material and online mock test via it’s Web and mobile app to the bankers attempting JAIIB and CAIIB certification course.
With MyonlinePrep aspirants get a preparatory platform via which not only they can study anywhere, anytime and ask their doubts to get instant solution via the app and can also practice through the Online Mock test. Such tests ensure benchmarking their preparation with thousands of other aspirants. They offer both on-site and virtual preparatory programme for JAIIB and CAIIB aspirants across India.
Talking about his journey Tanweer told BiharStartupsClub that starting a business leaving a full-time job as the bank manager of IndusInd bank at Patna and managing funds for his startup wasn’t easy. hen there were the technical challenges, such as preparing content as per the syllabus, making video lessons, creating probable questions, building websites and mobile apps. Even the frantic search for efficient faculty and expert in this field was not going so well in the beginning.
When asked about how did the Idea came and when he made his mind to give it a try Tanweer answers:
Sometimes a friend’s problem becomes our problem and which unknowingly charter a new path for us. A similar this happened to me a long time back in 2014. I met one of my friends who was working with a public sector bank. He tried for five attempts but couldn’t crack his JAIIB exam. He was frustrated and disappointed and told me that there are many aspirants of these exams who are unable to crack this exam due to lack of any authentic preparatory platform. I consider this short yet impactful interaction with my friend as ‘my Eureka moment’.
Started it on August 2014 when 10 aspirants enrolled for our mock test. It was the time when they used to provide only preparatory tests online. Now, they provide everything related to JAIIB & CAIIB preparation such as Study Materials, video lessons, Expert Communication, Mock Tests along with a friendly user interface in the form of app and website. Turnover till date has grown up to INR 50 lakhs. With new approaches of expansion (online and offline), team is expecting a three-fold growth in revenue by the end of current financial year.
At the same time they are also hitting the nail on the head by creating awareness among eligible banking sector professionals to understand the importance of such exams in their better career growth and learning.
At this moment MyOnlinePrep is totally self-funded and it has no financial liability as we were told that the profit making business model has supported the startup till now but as they are looking to expand they are looking to raise series A funding in the near future.
We had a long talk with the founder of MyOnlinePrep we would bring you part 2 of the conversation in the next article which will cover the future plans and details about how Tanweer built his team being in Patna and how the product works. Till then thanks for reading the story if this inspires you do share this with your friends and startup ecosystem.
For details about MyOnlinePrep visit www.MyOnlinePrep.com also checkout the Mobile App for JAIIB & CAIIB Preparation from play store by MyOnlinePrep team.