Embedded finance is the seamless integration of financial services into traditionally non-financial services or products. In the Indian context, embedded finance will play a crucial role in providing access to savings, credit, and other financial services to lower and middle-income segment users. Fundfina primarily intends to provide small merchants with credit. Tune in to our podcast to hear from its co-founder and CPO on how Fundfina has imbibed this concept, how Indian consumers can benefit from this evolving concept, and what challenges lie ahead.
CreditHaat—making distribution of financial services: “targeted, simple, and effective”
The FinTech startup CreditHaat connects underserved customers to suitable credit providers. It helps customers who need credit identify appropriate lenders and handholds them through the lenders’ application and disbursement processes. This blog explores the startup’s journey and approach to making credit products more accessible and inclusive.
NITI Aayog introduced Account Aggregator (AA) framework to ensure secure and seamless data portability of consumer data among service providers. It can revolutionize financial services significantly by simplifying data sharing. This unified platform will help all players in the financial ecosystem provide better tailored demand-based products for the consumers. Listen to our podcast with Nikhil Kurhe, Co-founder and CEO of Finarkein Analytics, to learn how this framework will impact the Indian financial ecosystem.
GreyMatter: Delivering impact to farmers at the last mile
This blog highlights the journey of the agri-FinTech startup GreyMatter, which works on a buy-now-pay-later (BNPL) community commerce model. The company works to build a one-stop platform to provide quality agricultural inputs to smallholder farmers, agri-advisory services to improve yield, and post-harvest support like improving soil health and creating market linkages for better prices on the harvest. The company’s efforts have led to a positive impact on its early users. Read its story here.
They deliver, they survive, and finally, they BELONG – Blue-collar workers in India are now “Entitled” to what they deserve for their services
India has more than 250 million blue-collared employees with an immediate need for essential benefits. Entitled works with employers to strengthen their financial health by designing bundled financial products, such as credit and insurance, for the well-being of blue-collared workers. Solid financial health will give blue-collared workers a blanket during financial shocks. Entitled is gradually developing innovative delivery channels and products to make the user onboarding experience comfortable.
It is clear that digital transformation is a journey, not a destination – so incremental progress is to be expected. Equity Bank, one of the leading microfinance providers in Kenya, developed a well-articulated approach and took over a decade to digitalize its operations. It started with the equivalent of a digital readiness assessment, on which it based its digital transformation strategy in 2010. MSC worked alongside Equity Bank, providing consulting services, for much of its digital transformation journey.