With a vision to enhance customer experience and make it frictionless for small and mid-sized enterprises (SMEs), these fintech players are redefining the MSME the industry.
India is no longer holding back on leveraging the latest tech to simplify financial services. The current ecosystem comprises fintech players like digital payment service providers, lending platforms, and technology pioneers bridging gaps in access to various financial services even for the small businesses across the length and breadth of India.
Such platforms are mainly backed by technologies like artificial intelligence, big data, and other deep tech that are rapidly proving their value across industries.
With a vision to enhance customer experience and make it frictionless for small and mid-sized enterprises (SMEs), these fintech players are redefining the MSME the industry:
Indifi Technologies is a debt-financing platform that facilitates SME lending with a focus on customer-product fit. Indifi claims to bring to the market specially designed credit products suited to the needs of SMEs. This industry verticalisation brings unique benefits to the customer as product design fits into the business cash flows of the MSME.
Indifi claims to have contributed to bridging the gap in SME financing with an amalgamation of technology and access to data, enabling seamless access to funding with flexible repayment options for startups and small businesses.
Razorpay is a payments solution in India that allows small and medium businesses to accept, process, and disburse payments with its product suite. It gives customers access to all payment modes, including credit card, debit card, net banking, UPI, and popular wallets including JioMoney, Mobikwik, Airtel Money, FreeCharge, Ola Money, and PayZapp.
The company aims at empowering the unbanked and under-banked segments in India by offering safe, secure, and convenient payments solutions. This gives the businesses the freedom to select an instrument of their choice, be it from a financial, digital, or social perspective. BANKIT provides banking services like round-the-clock domestic money transfers.
EbixCash is emerging as one of the leading financial exchanges in India. With a ‘Phygital’ strategy (physical experience with digital backend) that combines more than 260,000 physical distribution outlets to an omni-channel online digital platform, EbixCash has established an enterprise financial exchange portfolio that encompasses leadership in digital payments solutions, money transfer services (domestic & international), travel, insurance and corporate & incentive solutions.
Date: June 20, 2019
Source: SMB story