5 FinTechs Promoting Financial Independence in India

By Leandra Monteiro

Today

  • Clix Capital
  • Digital Loan
  • And the money

FinTechs are changing the way Indians bank and manage transactions to improve financial inclusion for those without substantial financial resources. In addition to providing services to the unbanked, FinTechs are helping everyday people find ways to borrow, save, invest, and manage their money using technology and financial literacy.

Here is a list of the top 5 brands dedicated to improving the financial industry by ensuring financial independence. They can help anyone save money, build a nest egg, get better student loans or rental insurance, or invest in unconventional properties.

And the money: Despite many advances in technology, the fight for financial freedom in the area of ​​taxation continues. Regarding decision making while investing, with the increase in fraudulent sales, investors in India are often inclined to buy financial products despite a lack of understanding due to hearsay and investor biases such as herd mentality. The selection can sometimes get tricky as there are several investment plans to choose from. ET Money simplifies the financial journey of millions of Indian investors to evaluate each category on multiple metrics such as consistency of returns and downside protection for manually selecting schemes that suit you best. As a digital-only investment platform, ET Money, India’s largest app for financial services, is perfectly placed to speak to the individual investor and their evolving mindset around money and the wealth.

mPokket: After making its presence felt by providing low-cost personal loans to students, the company has expanded its portfolio during the pandemic, catering to the financial needs of salaried professionals. Borrowers can avail loans ranging from Rs. 500 to Rs. 30,000, with the amount instantly credited to the user’s bank account or digital wallet. And the best part is that you don’t have to pressure yourself to provide guarantees. You can repay it over a period of three months at your convenience. mPokket’s mission is to improve the lives of underserved, newly credited individuals who do not have access to funding from traditional financial institutions, by providing instant access to cash for urgent needs.

FamPay: With FamPay and its countless prepaid cards, children can efficiently make online and offline payments without having to open a bank account. FamPay believes in educating a new generation of financially savvy Indians who are able to make decisions that are in their long term best interests and who understand the principles of personal finance.

Clix Capital: Clix Capital is a new era NBFC, revolutionizing the lending space by offering differentiated digital lending products that are built on technology and deep analytics. It offers a range of lending products to a diverse range of clients in the MSME and consumer segment, including personal loans, MSME loans, healthcare loans and mortgage financing. This smart, contemporary company is making loans simpler, faster and more accessible through technology. Now you can avail easy loans with minimal paperwork and most importantly, maximum peace of mind.

LXME: LXME is the first financial platform for women in India. At LXME, women are empowered to take control of their lives through interactive online and offline courses, goal-based calculators, an open conversation forum, and access to curated financial portfolios. LXME has created an ecosystem for women to be financially independent and ready to manage their money because it believes that every woman should strive for financial freedom.

ALSO READ: Global Loan Providers and Landscape Report Q2 2022

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