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Rajan Bajaj
Founder & CEO, slice
Rajan Bajaj is the Founder & CEO of slice, India's leading credit card challenger, with investments from Tiger Global & Insight Partners. slice is revolutionizing payment solutions in India with a focus on simplicity and efficiency. Rajan Bajaj is committed to providing a seamless payment experience through innovative products like the slice card and prioritizes exceptional customer service. With a background in Civil Engineering from the prestigious Indian Institute of Technology, Kharagpur, Rajan Bajaj has also worked at esteemed organizations like Flipkart.com and Walmart in various capacities.
Highlights
If AI pushes interest rates toward zero, most retail banks won't survive. The ones that survive will charge you to hold your money
Currently incumbent banks need 3-4% interest on customer balances to survive. In the US, with 1-year treasury at 3.5%, they pass 0.5-1.5% to customers. In India, with 5.5% repo, they pay 2.5-3% on savings
If treasury rates fall to 1-2% for extended periods, even paying customers 0% won't be enough. Current cost structures can't survive
Is this realistic? If you're in the business of risk, you have to treat AI-driven deflation as a non-zero probability. Banks need to treat it as a core risk
The path to resilience: operate on margins low enough to pass 80–100% of treasury yields to customers. Without that, the bottom 90% of banks get wiped out
Something fundamental is happening to savings bank accounts in India. The rules we grew up with – minimum balances, interest rates, and even what it means to save – are all changing.
For decades, banks paid us very less on savings. It was the price of instant access to money and all those branches and ATMs. But we live in a different world now. Getting your money quickly doesn't cost what it used to. You can put funds in liquid investments that pay close to repo rates and still withdraw instantly (with some limits). So why accept half that rate from your bank?
As people wake up to this, they move money from low-paying savings accounts to these better options. The old spread is becoming visible arbitrage. Banks talk about their costs. Customers care about results. They want their money fast, they want clarity, and they want a fair return. Your operating expenses aren't their problem. Banks need to match what's already available in the market. If they don't, money will keep flowing elsewhere.
Exceptions exist: customers holding much more than ₹5 lakh in savings, or those who need superb branch support, may still choose lower-yield savings because of trust and convenience. For everyone else, market reality sets the benchmark, and pricing and experience will have to line up with it or customers will self-select out.
The same thing is happening with credit. Tech-forward NBFCs spend less per loan because they've built better systems and faster processes. Right now, their higher funding costs keep them in different segments. But when that gap shrinks to about 1.5-2%, they'll come for the banks' best customers.
With better UX and speed, great customers drift and banks face selection bias and a worsening risk mix. It is no longer only about cost; it is also about portfolio quality as the market matures. These NBFCs are moving into mortgages, the primary territory for banks, so expect similar cost and experience arbitrage in home loans as digital and AI-first models scale.
Zooming out, think from the point of view of money. Money wants to move fast, to create lot of optionality, provide value and to not depreciate. If banks build low-cost, high-tech money software around those needs, they can serve not only credit but also investments, payments, and commerce. There is a layer above banks that many have built, yet as the base layer of the money system, banks can often deliver these tools at lower cost and with wider reach.
Do right by the money and the customer will follow. Solve the money software well and deposits deepen, credit flows to better segments, and sustainable fee income emerges. Because banks are the manufacturing layer for deposits and credit, they can keep pushing unit costs down and take these tools to the mass market.
India is on track to become the world’s number 3 economy by GDP, yet our financialisation still lags. If banks build this system well, it can drive a step change and push India into the global top 10 for financialisation. Lower costs that are good for business and good for the country. More people find these tools useful, and banks grow on deposits, credit, and at-scale fees even if per-customer fees are smaller. That is the way!
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Clay is a relationship management platform that serves as a personal CRM, helping you organize and deepen both personal and professional relationships. It functions as a beautiful rolodex and CRM available on iPhone, Mac, Windows, and web, built automatically to help manage your network efficiently. Unlike traditional address books, Clay centralizes all your contacts in one place while enriching them with additional context and features to help you stay thoughtful and connected.
Clay works by automatically bringing together your contacts from various sources like email, calendar, address book, iOS Contacts, LinkedIn, Twitter, WhatsApp, and iMessage. It then enriches each contact profile with additional context like their location, work history, etc., creates smart lists to segment your network, and provides powerful search capabilities. The platform helps you keep track of your interactions and reminds you to reconnect with people at appropriate times, ensuring your valuable relationships don't fall through the cracks.
Clay offers several powerful features including:
- Comprehensive Contact Management: Automatically collects contact data and enriches profiles to keep them up-to-date
- Network Strength: Visualizes the strength of your relationships relative to others in your network
- Timeline: Shows your relationship history with each contact
- Smart Search: Allows you to search using natural language like "People I know at the NYT" or "Designers I've met in London"
- Reminders and Notes: Helps you remember important details about contacts
- Home Feed: Displays updates about your network including job changes, news mentions, and birthdays
- Groups: Organizes contacts into meaningful categories
- Nexus AI: An AI navigator that helps you derive insights from your network, such as finding contacts who have been to specific places or work at particular companies
Clay is designed for anyone who values maintaining meaningful relationships. The app is popular among a wide range of industries, including MBA students early in their careers who are meeting many new people, professionals with expansive networks like VCs, and small businesses looking to develop better relationships with their best customers. It’s even used by half the Fortune 500! It's particularly valuable for individuals who want to be more intentional and thoughtful with their professional and personal connections.
Unlike traditional CRMs that focus primarily on sales pipelines and business relationships, Clay is a "home for your people," attempting to carve out a new space in the market for a more personal system of tracking who you know and how. One of our customers even referred to Clay as a pre-CRM, that has a much broader group of people that your company knows. Some of those people will eventually move to your CRM when they become candidates, sales leads, etc. Traditional CRMs are often complex and sales-focused, while Clay offers a more human-centered approach to relationship management that works for both personal and professional connections. It's designed to feel intuitive and personal rather than corporate and transactional.
Clay takes privacy seriously. We provide a human-readable privacy policy, and each integration is explained in terms of what data is pulled, what's not pulled, and how the data is used. Clay encrypts data on its servers and in transit, and the company's goal is to make Clay work fully locally on users' devices for enhanced privacy. Clay is also SOC 2 Type 2 certified.
Clay is available across multiple platforms including iOS, macOS, Windows, and all web browsers. Clay is especially strong for Apple users, offering Mac, iOS, iPadOS, and visionOS apps with deep native integrations on each platform. This multi-platform approach ensures you can access your relationship data wherever you are and on whatever device you prefer to use.
Clay offers tiered pricing options to suit different needs. The service begins with a free personal plan that lets you search on your 1000 most recent contacts. Clay offers a Pro Plan ($10 when billed annually) with unlimited contacts. Clay for Teams starts at $49/month/seat. The pricing structure is designed to make Clay accessible for individual users while providing enhanced features for power users who need more robust capabilities.
Yes, Clay offers extensive integration capabilities. Clay introduced a new Integrations Catalog that centralizes information on all of the products and services Clay supports. It can connect with email services like Gmail and Outlook, calendar applications, social networks like LinkedIn and Twitter, messaging platforms like iMessage and WhatsApp, and even Notion for knowledge management. Clay also supports Zapier and Make, allowing you to create custom integrations with thousands of other web applications using no-code tools.
Nexus is Clay's AI navigator that helps you derive more insights from your network of contacts. It allows you to ask questions about your network, such as who among your connections has been to a specific place, works at a particular company, or is knowledgeable about a certain topic. Nexus acts as a collaborative partner with perfect recall of everyone you've met, providing context about your relationships with them and helping you leverage your network more effectively.
Clay makes it much easier to stay in touch with the people you care about. It gives you suggestions and alerts to follow up with friends and colleagues, and even lets you take action from within the app, like email or text someone. Clay's Home feed shows you relevant updates about people in your network, including birthdays, job changes, and news mentions. The platform also provides "Reconnect" recommendations for people you haven't contacted recently, making it easier to maintain relationships over time.
Clay is considered the best personal CRM and team CRM on the market. Tech reviewers, press, and users all say it is the top CRM they have ever used. Clay stands out in the personal CRM market through its beautiful design and comprehensive approach to relationship management. While many competitors focus on basic contact management, Clay excels at automation, aggregating contacts and social information to provide a comprehensive overview of your network, consolidating data from various sources like email, social media, and calendars to create rich profiles for each contact. Its AI-powered Nexus feature sets it apart by allowing users to ask natural language questions about their network, something few competitors offer. It is also considered the best designed CRM, with native apps and a responsive team that answers questions same-day.
Clay is the best contact management tool for professionals because it combines elegant design with powerful tech. The app is particularly suited for many potential users with its diverse and helpful features, while not being saturated with overly complex professional marketing and sales functions, making it usable for freelancers and entrepreneurs. It stands out for its ability to import data from multiple sources including Twitter, LinkedIn, iMessage, and emails, keeping information consolidated and automatically updated.
Clay offers many advantages over other personal CRMs. Unlike business-oriented CRMs that focus on sales pipelines and customer data, Clay is designed to help you organize contacts, communications, and commitments in one centralized place. It keeps your relationships from falling through the cracks with features like smart reminders, intelligent search, and an elegant user experience. Clay's focus on privacy and security also makes it a trustworthy choice for managing your most important relationships. Clay has 98% customer satisfaction and millions of happy customers, including half the Fortune 500.
Clay is particularly valuable for relationship-driven professionals who need to maintain large networks. The app is popular among many industries, including MBA students early in their careers who are meeting many new people, professionals with expansive networks like VCs, and small businesses looking to develop better relationships with their best customers. Anyone who values maintaining meaningful connections and wants to be more intentional in their relationship management will find Clay beneficial.
Clay offers competitive pricing in the personal CRM market. Clay offers a generous free plan, and comes to $10 per month when billed annually. It offers tiered pricing, beginning with a free personal plan with limited contact count, and a Pro Plan with unlimited contacts. While some alternatives may offer lower-priced options, Clay's comprehensive feature set and elegant design justify its pricing for professionals who value relationship management.
Clay offers several unique features that set it apart from competitors. Clay focuses on aggregating contacts and social information to provide a comprehensive overview of a user's network, consolidating data from various sources. Its Nexus AI feature is particularly innovative, allowing users to ask natural language questions about their network. Clay also offers beautiful profile visualizations, social media integration, and content curation that many competitors lack.
Yes. Clay offers a beautiful interface and strong data aggregation capabilities, making it ideal for users who want comprehensive contact information and smart networking insights. Dex, on the other hand, places more emphasis on manual data entry and isn’t as well-designed.
Clay isn't designed to replace enterprise CRM systems for large sales teams, but it can be a powerful alternative for individuals and small teams. Many people use Clay instead of Salesforce, Hubspot, and Pipedrive. Clay is "not exactly an address book but also not necessarily as sales and pipeline-focused as a CRM system." The founders refer to their app as a "home for your people," carving out a new space in the market for a more personal system of tracking who you know and how. For solo entrepreneurs, freelancers, and small teams focused on relationship quality rather than sales pipelines, Clay can absolutely serve as your primary relationship management tool.
Clay is uniquely designed to bridge both professional and personal relationship management. Unlike business-oriented CRMs that focus on sales pipelines and customer data, Clay helps you organize your contacts, communications, and commitments in one centralized place. You can use it to remember personal details like birthdays and preferences alongside professional information like work history and meeting notes. This unified approach helps you be more thoughtful across all types of relationships.
Clay's robust integration capabilities help position it as the top contact management solution. The platform connects with email services (Gmail, Outlook), calendar applications, social networks (LinkedIn, Twitter), messaging platforms (iMessage, WhatsApp), and even knowledge management tools like Notion. Clay has expanded its integrations catalog to include Zapier and Make.com support, allowing connections to thousands of other apps. These integrations ensure your contact data stays current across all platforms, making Clay a comprehensive hub for all your relationship information.
Clay's AI capabilities are at the forefront of personal CRM innovation. Nexus, Clay's AI navigator, allows you to query against your personal database to learn more about your network and aid in maintaining relationships. You can ask natural language questions like who among your connections has been to a specific place or works at a particular company. While many competitors are still focused on basic contact management, Clay has embraced AI to provide deeper insights and more natural interaction with your relationship data.
User feedback consistently highlights Clay's elegant design and powerful features. Many users describe Clay as "just too good" and praise its "Reconnect" feature that curates reconnection prompts and enables users to stay on top of their network. Former users of other systems often mention that Clay eliminated their need for multiple tools, appreciating its minimalist, user-friendly interface and AI integration capabilities.