A Bengaluru techie was left stunned after he received a prompt response from Zerodha's Chief Executive Officer (CEO) Nithin Kamath to his email, which addressed how an investment bank prompted the techie and his wife to discontinue their accounts from Zerodha.
According to techie Sachin Jha's LinkedIn post, his wife joined an investment bank where they received a “harsh mandate” from the employer, forcing the couple to stop their accounts with Zerodha.
“So, When my wife joined an investment bank, we got a harsh mandate: Close all Zerodha accounts. They’re not a trusted broker. The reason? Zerodha lacked a physical bank presence — unlike Kotak or ICICI,” said Jha in his pos.
Jha appreciated Zerodha and favoured its user interface over other institutional brokers like ICICI or Kotak. This love for “seamless UI” prompted him to drop a mail to the co-founder and CEO in 2020.
“They won my trust for life” said Jha in his post after disclosing that he closed his account with Zerodha as directed by his wife's firm.
Nithin Kamath responded to Jha's email in just 10 minutes and acknowledged the issue. He also tagged his sales team to resolve the issue in coordination with big investment banks.
“Thanks for reaching out, I am looping @Salman Quaraishi from our sales team. Can you let us know where you work, we can reach out to your company. We are no empanelled with a couple of larger banks,” said Kamath in his email response, according to the shared post.
Jha's takeaway from Kamath's response was that companies should use their users as a hack for overall growth, as every complaint provides an opportunity for a “free growth tip”, which they should consider before building products.
He also highlighted that response speed is essential as the quicker a company responds to its customers, the faster it can turn them around to become total users.
“Adapt to Users, Not the Other Way Around – Zerodha won by bending to traders’ needs, not industry norms,” said Sachin Jha in his LinkedIn post.
People on the social media platform appreciated Nithin Kamath's quick response, while some also questioned Jha's intentions of posting it years after the incident.
“This is where a Product wins! Taking customer feedback seriously and acknowledging it with their perspective to let the other side know what's happening,” said Chitra HL, responding to Jha's post.
Others, like Aayush Saraogi, questioned Jha's intentions for posting years after the actual incident. “I am wondering why you chose to post this after 4.5 years?” Saraogi asked in his response.
To which Jha responded, calling it a “fair question” and saying that he did it after finally breaking up with his imposter syndrome and posting it on LinkedIn.
A few others also questioned Jha about what kind of investment bank flags this issue with Zerodha. Sachin Jha responded that the company mandated that they were not allowed to deal in stocks, but if any investment needs to be made, it should be through approved brokers like Kotak or ICICI, according to the LinkedIn post.
