Swati Mehta ( PFM 2007-09 ) is a Research Associate and Doctoral Candidate at the Catholic University of Eichstätt-Ingolstadt, Germany. She was also the German chancellor fellow.
She has eleven years of experience working on projects to achieve inclusive and sustainable financial sector development. Her current project focuses on closing gaps in understanding the interface between forced displacement, humanitarian response, and financial systems. Prior to this, Swati has worked as a technical advisor to formal financial institutions and non-governmental organizations to help them understand the financial needs of low-income households, pilot and upscale innovative products for them, and disseminate lessons for policymaking. Her specializations include branchless banking using digital money solutions, financial literacy, and financial consumer protection in the formal financial sector.
An avid traveller, Swati loves to explore and appreciate different cultures and is passionate about environmental causes and sustainable living
Linkedin ID- https://www.linkedin.com/in/swatiimehta
Twitter- @swatiimehta
Q) How has been your journey from IIFM to this role?
A) I still remember the day I received my placement offer. It was my birthday and that was one of the best birthday gifts ever. I was placed with MicroSave, a consulting company in the financial inclusion space. I joined as an Analyst and moved to Lucknow. Right away I started working with several MFIs and Mobile Payments Providers. With excellent mentoring support from my colleagues, I had the opportunity to learn about the fundamental structure of the industry and our kind of organizations. My work involved a lot of travel and fieldwork to different parts of the country. I also had a chance to travel to and work with organizations in Africa and South-East Asia. I attribute a lot of my professional and personal growth to the initial five years of my career that I spent at MicroSave.
After this, I joined the German Development Cooperation (GIZ) and with that started the next chapter of my professional career. I worked with their Rural Financial Institutions Program in India, and we implemented projects on financial capability and self-help groups. Again, there was a lot of focus on financial inclusion, but I learned more about community-based organizations and worked closely with our local NGO partners in Madhya Pradesh and Rajasthan. I also learned more about the bi-lateral development cooperation and of course the German way of working! After my project closed, I continued to work as an Independent Consultant and this phase helped me gain confidence to work by myself and most importantly, improve my networking skills.
With the itch to study further, I applied to a few universities for a master’s program. I also applied for the German Chancellor Fellowship for Future Leaders, which I eventually completed. The fellowship gave me a chance to spend a year in Germany working on my independent research project and even paid a good amount of stipend! This was a perfect stepping-stone for me to where I am in my career today. I also had the opportunity to hone my research skills, something that I always wanted to do. In Germany, I was based at the headquarters of GIZ and developed good networks with the team working on Financial Inclusion and Migration. From here, I moved on to my current role with the Catholic University working on the project that is supported by GIZ and BMZ.
Q) What were some of the key milestones/learning in this journey that you would like to share with us?
A) Receiving my first job offer, moving to a new city, and entering the new professional world were certainly the biggest milestones of all. Also, my first International Assignment for which I travelled to the Philippines and then various other trips to countries such as Kenya, Papua New Guinea, and Malawi provided me with the kind of exposure I would have never had in another job. Another key milestone was joining GIZ, which is where my connection with the German organizations started. Not only did I find my husband, but also some amazing colleagues who continue to be my mentors.
Moving to Germany for my Fellowship was perhaps the Biggest Milestone. This is where my journey pivoted towards where I am today. Spending a year in Germany, learning the language, the culture, and making new friends was one of the best experiences of my life. On the professional front, I was able to move forward into the field of academic research. In 2018, I received the European Microfinance Research Award for a paper that I wrote based on my fellowship research in Germany. This was a huge personal achievement and a moment of validation that I was on the right path.
The most important learning from this journey has been that the learning process should never end, and this is not just through training or courses, but most of the learning happens through work and life experiences. I have always challenged myself with tasks that I thought were out of my comfort zone. This has kept me on my toes and pushed me to keep learning. The other important learning is to develop a strong professional network of people you can always go for advice and mentorship. At the same time, also support other professionals who you could mentor. Such professional relationships not only help in career growth but also provide immense sense of purpose and belonging—something that has always motivated me in my work.
Q) What is the most satisfying part of your current role?
A) The fact that I get to learn so much about life through my work. Over the last few years, I have been working with refugees, first in Germany and then in Jordan. Professionally, I have broadened my knowledge to learn more about migration and displacement. Personally, I have been grounded and inspired by the journeys of these refugees who have lost everything and are determined to rebuild their lives. I am also fortunate to work with a wonderful guide and supervisor, and an excellent team of academics and practitioners in the field.
Q) Has your learning at IIFM helped in shaping how you approach your professional roles?
A) It certainly has. IIFM was my entry into the development sector. The courses, the field trips, the internship, and the independent research that I conducted at IIFM—all helped me expand my knowledge about the sector. I still remember the lectures by Ms. Praseeda Kunam that were organized by Prof. P.K. Biswas. I was inspired by her knowledge of and contribution to the microfinance sector. My internship with a Microfinance Institution in Tamil Nadu provided me with first-hand experience of rural India.
Q) Who (or what) are the biggest influences or drivers in your careers? What would be your advice to freshers and IIFM graduates who are looking to choose similar sectors/roles?
A) As I mentioned earlier, I frequently look up to my colleagues and supervisors as to my role models and mentors. I have been fortunate to have built up solid relations with them. My advice to freshers and IIFM graduates will be to value your relationships with people the most. Do not just network for the sake of networking. It is alright to have a small network that is based on genuine and strong bonds. I cannot stress enough the value of identifying and reaching out to good mentors at any stage of your career.
Q) What are your favorite memories during your IIFM days?
A) I loved and still love the IIFM campus. Coming from Delhi, living in such a green space was an absolute delight! I loved taking long walks on the campus and sometimes visiting the grasslands. The long weekend lunches at the mess were another favorite. Last and most important are the endless conversations with friends which I will cherish forever.
Q) In hindsight, what was the biggest contribution (courses, faculty, library, friends, alumni.. Anything else!!) or take away from IIFM that you think played a critical role in shaping you as an individual or professional?
A) Certainly, my batchmates and the strong Alumni Network who I have always looked up to. I also highly appreciate the opportunities such as Field trips and Internships that provided practical knowledge outside the classroom.
Q) What is your typical day at the office?
A) Being a mother of a toddler, my typical day looks quite different from others. I have been working from home even before the pandemic started and love the flexibility it gives. I start my workday early at around 7.30 AM and finish the first shift by 12 PM. I eat lunch with my son and put him to bed for his nap and then work again. The last two years have been around coordinating my research in Jordan which involved several calls throughout the day to discuss the research plan and empirical findings. Over the last year, I have been focusing more on analysis and documentation. This means analyzing the data and writing reports for the project. Most of this work is done alone, but I have regular check-in meetings with my supervisors in Germany and the U.S. I frequently present our research findings on different platforms. Currently, I am focused on finishing a few research papers and spend a lot of time on Google Scholar!
Q) And how about weekends, Hobbies, Family, and anything else you want to add
A) I make it a point to include some exercise and yoga every day. We love to travel as a family and ever since the pandemic we have been mostly taking road trips. Weekends are for our son. We love to read him books, take him to the park, or just go out for a meal. I have developed a keen interest in food, nutrition, and Ayurveda. I spend time building knowledge in the subject and sometimes experimenting in the kitchen with healthy baking and cooking recipes!
Q) Favorite Books, movies, authors
A) The recent reads that I loved include Think like a Monk by Jay Shetty, Poonachi by Perumal Murugan, and Eleanor Oliphant Is Completely Fine by Gail Honeyman. I also like reading books related to my professional work. The ones that I highly recommend are Poor Economics, Arrival City, and The Moment of Lift.
Q) IIFM is driven by alumni’s passion and commitments towards its goal. How would you like to contribute to IIFM or IIFM alumni, students?
A) I strongly believe in the role of mentorship. I would highly recommend and am willing to support a formal mentorship program for IIFM graduates and freshers.
Q) Any suggestions on who you want to get profiled/interviewed here?
A) I would recommend Ritesh Dhawan from the 2010 batch. He joined MicroSave and I have worked with him in the initial years. He has done wonders in his journey.