SureClaim: Improving the healthcare and health insurance experience for LMI users

Posted on by MSC

This blog is about a FinTech startup from the Financial Inclusion Lab accelerator program, which receives support from some of the largest philanthropic organizations across the world—the Bill & Melinda Gates Foundation, J.P. Morgan, Michael & Susan Dell Foundation, MetLife Foundation, and Omidyar Network.

Since SureClaim participated in the first cohort of the FI Lab, it has created a streamlined communication plan for reaching out to a broad audience. It formed strategic partnerships with health and wellness aggregators, such as Apollo Life, CNH, and Truworth Wellness. SureClaim assists the low-and moderate-income (LMI) customers of these aggregators with hospitalization and insurance claims.

The premiums for health insurance in India increased by 41% in March, 2021. The increase was driven by rising demand for health insurance products amid the surge of COVID-19 in India. However, LMI customers find it challenging to choose the right insurance policy. They cannot process their claims smoothly due to lengthy and complex terms and conditions from insurance providers. SureClaim’s vision is to become the single-window solution for any patient seeking affordable hospitalization. It will guide them to the most appropriate treatment centers based on their healthcare requirements and insurance plan and assist them with the claim process.

SureClaim’s unique pitch and the FI Lab support

SureClaim seeks a holistic understanding of the experience of LMI customers throughout their journey as they use healthcare and insurance. People from the LMI segments face several challenges and respond uniquely through this journey—from searching for a primary healthcare provider, selecting an appropriate hospital, using health insurance, to claiming the settlement successfully.

Through CIIE.CO and MSC, the FI Lab helped SureClaim build this understanding by conducting market research with urban LMI respondents (Figure 1).

We segmented LMI users into different persona groups and uncovered critical factors that influence their choices at each stage of their journey as they seek healthcare. This segmentation exercise will help SureClaim approach them based on their specific characteristics. The startup can design appropriate nudges to sensitize users on the intricacies of hospitalization and help them avail the most of their eligible amount in the claims settlement process. MSC also recommended various B2B2C and B2C partnership strategies for the startup to increase its customer outreach.

We also developed a hospital navigator prototype that SureClaim can offer to their customers to guide them through their entire healthcare journey. With this prototype, the startup’s users will have a hassle-free healthcare experience. This prototype covers researching doctors, finding suitable hospitals for procedures, and retrieving details of their insurance policy coverage to ensure that the insurance covers their treatment or visit.

Creating opportunities from crises

During India’s second wave of the pandemic, SureClaim helped more than a thousand patients find hospital beds, access life-saving treatments, and assisted in their insurance claim processes. The startup thus played an impactful role in instilling the importance of health insurance coverage in the LMI community in its own small yet significant way.

The path ahead

SureClaim plans to scale up its current user volumes tenfold through corporate networks under B2B2C business models. SureClaim believes it can reach out to a diverse range of end customers through such tie-ups, ranging from small business owners to microfinance institutions, small finance bank customers, to white-collar workers in semi-urban areas. Building on its goal of becoming a single-window healthcare solution, SureClaim will assist these users in improving their experience of health insurance and trust in it.

This blog post is part of a series that covers promising FinTechs that make a difference to underserved communities. These startups receive support from the Financial Inclusion Lab accelerator program. The FI Lab is a part of CIIE.CO’s Bharat Inclusion Initiative and is co-powered by MSC. #TechForAll, #BuildingForBharat

One chit at a time: How has myPaisaa been transforming the traditional avatar of chit funds

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This blog looks at a startup called myPaisaa, part of the Financial Inclusion Lab accelerator program, which is supported by some of the largest philanthropic organizations across the world—Bill & Melinda Gates Foundation, J.P. Morgan, Michael & Susan Dell Foundation, MetLife Foundation, and Omidyar Network.

Archana is a 28-year-old who works at a call center in Hyderabad. She earns INR 25,000 (USD 350) per month. After she remits a portion of her income to her parents and pays her expenses, Archana has hardly any money left to save. During emergencies, she usually borrows from friends, colleagues, or local chittis. In Hyderabad, chitti is the common name for rotating savings and credit associations (ROSCAs). Though Archana knows of formal financial products, she prefers to save and borrow through ROSCAs due to their flexibility and convenience, compared to a bank. Millions like Archana in the LMI segment choose chit funds for their credit and saving needs.

How does a typical Indian chit fund work?

In a popular version of ROSCAs, people regularly pool their money in a common fund, usually each month. The members bid for the accumulated pool at each auction, and the lowest bidder wins the amount they bid. The rest of the pool is distributed equally among other members. India has chit funds run by authorized government entities and registered companies, alongside unregistered and informal chit funds. Each of these types of chit funds poses different challenges for investors like Archana.

As the government does not regulate unregistered chit funds, such funds are not generally well-managed, especially the auctions. They also have limited in-person interactions and lack transparency in their operations. On the other hand, registered funds, though regulated, often have poor customer experience due to delayed payouts coupled with inadequate audits and inefficient grievance redress processes. Unethical practices and stories of scams and fraud in recent times have marred the reputation of the chit fund industry.

Can someone salvage the chit fund industry?

Enter myPaisaa, a transparent and innovative digital chit fund platform

Praveen and Ravi, the cofounders of myPaisaa, became friends in college. Praveen used to work in the financial services industry before they founded the startup. While Praveen developed expertise in business development and management and gained experience by running another startup, Ravi worked with multiple top companies in leadership roles.

Their experience with chit funds helped conceive myPaisaa. Both Ravi and Praveen saw their parents save through chit funds and struggle with multiple challenges. These included mismanaged chit funds, fledgling trust, and irregular or delayed payments, especially when needed the most. To overcome these obstacles, Ravi and Praveen founded myPaisaa. The idea was to create an alternate financial product based on the concept of chit funds and social capital, coupled with the power of cutting-edge technology. myPaisaa delivers instant payments after bidding, eliminating multiple processes and irrelevant steps involved in traditional chit funds.

The myPaisaa pitch: Reinventing the traditional concept of chit funds in India

The myPaisaa mobile app is an easy-to-use digital chit fund platform. It offers affordable and accessible financial instruments to help its customers, who are usually from the bottom of the pyramid, develop financial discipline.

The evolution: Identifying challenges and overcoming them

The Financial Inclusion Lab organized clinics, boot camps, and diagnostic sessions and offered technical assistance and mentoring to help the myPaisaa team devise relevant strategies to expand its business.

A significant challenge for myPaisaa was to develop an impactful marketing strategy to increase customer reach and target. The Lab helped the team analyze existing customer data and identify key segments. As part of the Lab, MSC collected insights on the customer journey and identified the role of targeted marketing, as well as ways to implement it to drive the acquisition and engagement of customers.

Investing in a brighter digital future

myPaisaa plans to boost its customer reach and performance through a phygital—the combination of physical and digital—strategy. The myPaisaa team has been focusing on expanding as it reaches out to existing and new chit fund users by showcasing its offerings as a reliable and rewarding investment tool. myPaisaa will continue to educate customers, enhance their experience, and provide personalized products to expand its community of users.

As myPaisaa widens its reach, its larger vision is to remove the skepticism associated with chit funds and make chits an integral instrument for the financial health of millions like Archana in India.

This blog post is part of a series that covers promising FinTechs that have been making a difference to underserved communities. These startups receive support from the Financial Inclusion Lab accelerator program. The Lab is a part of CIIE.CO’s Bharat Inclusion Initiative and is co-powered by MSC. #TechForAll, #BuildingForBharat

FinTechs: Democratizing financial services

Posted on by MSC

The FinTech ecosystem in India continues to thrive with innovative products and solutions that cater to the bottom of the pyramid. The role of enablers in this space, especially start-ups, remains invisible—they develop disruptive products and provide the infrastructure necessary for innovative financial solutions to materialize and flourish. This video highlights how start-ups under the FI Lab have been transforming the ecosystem with new tech solutions. It also discusses the impact of these solutions on the low- and middle-income segment.

Numer8: From space to sea, solving for fisherfolk—numerically

Posted on by MSC

This blog is about a startup under the Financial Inclusion (FI) Lab accelerator program’s fourth cohort. The Lab is supported by some of the largest philanthropic organizations across the world – Bill & Melinda Gates Foundation, J.P. Morgan, Michael & Susan Dell Foundation, MetLife Foundation, and Omidyar Network.

According to the World Wildlife Fund (WWF), 3 billion people worldwide rely on seafood for their dietary needs. Marine fisheries generate employment for millions of people across the globe. In India, the seafood industry employs about 5 million fisherfolk and laborers, who face several issues that remain unresolved for various reasons, as illustrated in the image below.

The resolution of these problems offers an opportunity to improve the lives of fisherfolk. However, only a few platforms are willing to build solutions for marine fisherfolk. One of these is Numer8, a startup that strives to analyze the problems fisherfolk face and uses its data analytics capabilities to develop scalable solutions for the sector.

The eureka moment

Devleena Bhattacharjee, the founder and CEO of Numer8, has a background in data science. A serial entrepreneur who used to develop data solutions primarily for urban customers, Devleena was keen to use her skills to address more significant global issues, such as climate change, disaster recovery, and livelihood resilience.

Devleena met Nandhini Karthikeyan, the current CTO of Numer8, during a machine learning course. Their shared perspectives and passion for solving global issues helped them conceive Numer8.

Numer8 launched its operations in 2017. Its first product, “QResq,” was a geographic information system (GIS) application that collected data on natural disasters and provided a multidimensional outlook on the consequent geo-critical changes. While studying the effects of disasters like the Kerala floods of 2018 and cyclone Fani, the Numer8 team was shocked by the disproportionately colossal loss of life and property due to climate disasters.

Coastal disasters, in general, threaten to demolish the livelihood of families associated with marine fisheries. Climate Central further projects that India could face coastal floods every year by 2050. Cumulatively, such disasters would affect more than 36 million people. This frightening prediction was an eye-opener for the duo. They decided to invest all their time and resources in supporting the livelihood of marine fisherfolk. This investment led to their second product, the “Ofish” mobile app, which quickly gained prominence. “Ofish” provides a data-driven analysis of hyperlocal weather, sea tides, and fishing conditions to help fisherfolk with market linkages. The Numer8 team is now hard at work to build and integrate a portfolio of solutions to serve the fisherfolk holistically.

Numer8’s unique pitch

The Numer8 team conducted primary and secondary research to delve deeper into issues that marine fisherfolk face in India. They identified four significant challenges that, if addressed, hold the potential to improve the livelihoods of marine fisherfolk. The graphic below provides a snapshot of these issues.

In 2018, Numer8 partnered with the National Aeronautics and Space Administration (NASA) and the European Space Agency under the Copernicus Master’s program. These partnerships helped the team to access geospatial data, especially for the Indian coastline, and offer timely and accurate results. These partnerships allow Numer8 to offer timely and accurate alerts on fishing and natural disasters, which was the initial focus of “Ofish.”

In 2019, the World Food Program (WFP) selected Numer8 as a part of its technology-based program on food security solutions organized in Sri Lanka. As a part of the program, Numer8 conducted a hunger management pilot and discovered that most digital food security solutions focus on agriculture or inland fisheries. The marine fisheries sector had a severe lack of technology-assisted global food security solutions. MSC estimates that India’s 5 million marine fisherfolk cumulatively generate an income of INR 322 billion (~USD 4.32 billion) annually. Numer8 decided to safeguard the income and livelihood of marine fisherfolk through data-driven insights to support supply-chain linkages and offer formal financial assistance and business advisory, among others. Besides helping fisherfolk improve their livelihood, Numer8 also seeks to operate at the ecosystem level and address critical sectorial issues, as outlined below.

The impact of Numer8 on LMI fisherfolk

Numer8 helps low- and middle-income fisherfolk move toward profitable and sustainable fishing practices. To date, the startup’s “Ofish” product has onboarded and benefitted more than 2,000 fisherfolk, empowering them to improve their livelihoods.

During the COVID-19 pandemic, Numer8 offered advisory services for fisherfolk to increase their net income. It suggested ways to reduce operational costs and increase their sales margin.

The challenges

The image below summarizes the challenges Numer8 faced during the design of its products.

COVID-19: An unexpected catalyst

When the pandemic first struck, Numer8 had anticipated an impact on its operations. The team turned this adversity into opportunity—they devised and piloted new ideas, such as market linkage solutions for fisherfolk. The pilot sought to identify and form partnerships with forward and backward players in the supply chain like raw material suppliers, retailers, and customers. Devleena and her team took to the streets to sell fish to upgrade their approach to design thinking and understand the on-ground dynamics of the supply chain.

However, the second wave of COVID-19 dented the startup’s business revenues and obstructed its operations. Pandemic-induced lockdowns and travel restrictions led to a severe market disconnect. Despite these challenges, the team managed to bounce back and revive the business after the government eased restrictions on movement.

Support provided by the Financial Inclusion (FI) Lab

A collaborative effort of CIIE.CO and MSC, the FILab organized boot camps and diagnostic sessions and offered mentoring support and technical assistance to help Numer8 identify challenges and build robust strategies to overcome them. MSC’s help improved the overall user interface for “Ofish.”

MSC also helped Numer8 understand the financial needs and capabilities of fisherfolk, their socio-economic footprint, and other financial trends based on research across coastal Indian states. Based on this research, we designed a credit assessment framework that identifies the potential credit needs of fisherfolk based on basic information provided by them such as their past credit behavior, asset ownership, and alternate data, among other parameters. The framework assesses the creditability of fisherfolk based on. This assessment will enable Numer8 to extend formal credit to fisherfolk and other relevant players in the supply chain who lack proper documentation to substantiate their income and assets. This tool will provide another channel for Numer8 to scale up its business model.

The next steps

Numer8 plans to strengthen its geographical footprint through a hub-and-spoke model. It will continue to maintain a central workforce in India to develop “Ofish”. Simultaneously, local teams will customize and provide geography-specific services across different countries like the Philippines and Sri Lanka. The team has been conducting pilots in Bangladesh, Indonesia, and Papua New Guinea.

In the medium term, Numer8 will set up a digital marketplace to help fisherfolk connect with relevant players in the supply chain, such as input suppliers and retail buyers or wholesalers. The team believes that educating fisherfolk on the relevance of social and economic factors will drive the adoption of technology. Through community-driven workshops, Numer8 plans to provide financial education to fisherfolk, especially fisherwomen, on various market offerings and government plans and subsidies by partnering with relevant players. We hope that Numer8 achieves its objectives and creates its intended impact soon.

This blog post is part of a series that covers promising FinTechs that are making a difference to underserved communities. These startups receive support from the Financial Inclusion Lab accelerator program. The Lab is a part of CIIE.CO’s Bharat Inclusion Initiative and is co-powered by MSC. #TechForAll #BuildingForBharat

Awaaz.De: Mobile-based interventions for social change

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This blog talks about a start-up called Awaaz.De, part of the Financial Inclusion Lab accelerator program, which is supported by some of the largest philanthropic organizations across the world – Bill & Melinda Gates Foundation, J.P. Morgan, Michael & Susan Dell Foundation, MetLife Foundation, and Omidyar Network.

Birth of an idea

A decade ago, Dr. Neil Patel decided to look beyond his home state of California and apply his Stanford University Ph.D. research to pressing problems in international development. His thesis won awards at world-class academic conferences, including the CHI conference, which focuses on innovations in interactive technology and brings technology for development research into mainstream academia.

Neil explored the design and deployment of Information and Communications Technologies (ICTs) to empower underserved populations. During his research, Neil developed a prototype of a mobile communications platform that cuts across language and literacy barriers to disseminate contextual and relevant content and collect data from farmers in Gujarat. The prototype also allowed users to post to a voice message board, which people could access through simple phone calls.

Dr. Tapan Parikh, Neil’s advisor at the University of California, Berkeley, nudged him to turn this idea into reality. Thus, Awaaz.De was born. The start-up’s current technology platform builds on more than 10 years of research (Patel et al., ICTD 2012) and a two-year Harvard RCT, which estimates that every USD 1 invested into its systems generates USD 10 in additional income for end-users.

The journey so far

Awaaz.De is a FinTech enabler and social enterprise based in India that works to expand access to finance for the underbanked. Awaaz.De’s 360-degree Customer Connect sends personalized, interactive nudges and confirmations throughout the customer’s lifecycle. This drives market-proven results for loan collection and up-sell of products and empowers customers to report discrepancies and make informed financial decisions. Currently, Awaaz.De caters to 8-10 million customers each month, which primarily include low-income women from rural geographies. It also works on feature phones, which is the most commonly used phone among the low- and moderate-income (LMI) customers of Awaaz.De’s clients.

In its early years, Awaaz.De scaled its work in agriculture through partnerships with Digital Green and Precision Agriculture for Development. It worked with many development sector organizations in health, education, and financial inclusion. Awaaz.De raised seed funding from the Aavishkaar-Intellecap angel network, Sattva Capital, and IIM-A’s CIIE.CO. With funding for research and development from the Bill & Melinda Gates Foundation, Awaaz.De developed and launched its platform for the financial inclusion sector in 2016.

Since then, Awaaz.De has partnered with many leading financial institutions, including Axis Bank, Ujjivan Small Finance Bank, L&T Financial services, and Samasta Microfinance. These institutions rely on Awaaz.De’s platform to improve collections, drive growth, cut operating expenses, and accelerate digital transformation. Awaaz.De’s clients also use its SaaS platform to engage and acquire last-mile customers through mobile communication in more than 10 local languages.

The roadblocks

In 2020, the COVID-19 pandemic disrupted the core business operations of Awaaz.De and its partners. As businesses came to a grinding halt, the Awaaz.De team immediately shifted gears. They focused on identifying opportunities to use their platform to help partner institutions send critical communications to their customers at scale. These communications ranged from tips from public health experts to prevent COVID-19 to information on eligibility for government entitlements, such as benefits under PMGKY and the moratorium on EMI announced by the central bank. Awaaz.De bore the entire cost of these messages to facilitate people’s access to reliable information.

As the microfinance industry rebounded, Awaaz.De’s platform became more critical than ever. It enabled financial institutions to strengthen direct, digital connections with their customers across India, at a fraction of the cost—less than 95%—of telecalling. Despite its many challenges, the pandemic offered Awaaz.De and other innovative FinTech companies a once-in-a-generation opportunity to accelerate digital transformation.

Support from the FI lab

As a part of the Lab’s accelerator program, CIIE.CO and MSC supported Awaaz.De with a set of mentoring and technical assistance (TA) activities. Based on its call data, we helped the organization identify a correlation between call-response patterns and the tendency of customers to default on loan repayments.

We conducted the following two levels of analysis on the dataset:

  • The first level identified high-risk and low-risk customers based on their behavior on loan installment reminder calls using variables like average time spent on a call, calls missed, among others.
  • The second level ascertained the relationship between branch locations and high- and low-value customers.

Support from the Lab helped Awaaz.de uncover new ways to provide more robust analytics and recommendations to its partners, such as banks, non-bank financial corporations, microfinance institutions, among others. This paved the way to deepen their engagements with its partners strategically.

Plans for the future

Awaaz.De continues to grow and diversify its customer base in India and abroad. It collaborates with like-minded organizations and uses their expertise and the immense potential of ICTs to create social impact.

The COVID-19 pandemic has accelerated the digital transformation of the financial inclusion sector. The crisis has also created a demand for innovative FinTech solutions to reduce dependence on field staff, use alternative data streams for underwriting and up-selling, and scale cashless transactions. With its existing reach that continues to grow and long-standing institutional partnerships, Awaaz.De seeks to meet this demand and play a pivotal role in accelerating digital transformation for its clients and end customers.

Awaaz.De has also been building a personalized and interactive platform through the micro-segmentation of its target audience, algorithmic push-messaging, and AI-powered chatbots to enhance user experience. It plans to explore opportunities to improve voice technology in speech analytics and recognition, integrating voice biometrics, speech-to-text, and text-to-speech to make the platform more secure and scalable. We are excited to watch its journey unfold in the next few months.

This blog post is part of a series that covers promising FinTechs that make a difference to underserved communities. These start-ups receive support from the Financial Inclusion Lab accelerator program. The Lab is a part of CIIE.CO’s Bharat Inclusion Initiative and is co-powered by MSC. #TechForAll, #BuildingForBharat

EasyPlan: Easing the middle-income segment into a more robust savings behavior

Posted on by MSC

This blog looks at EasyPlan, a startup that was part of the Financial Inclusion Lab accelerator program, which receives support from some of the largest philanthropic organizations across the world—Bill & Melinda Gates Foundation, J.P. Morgan, Michael & Susan Dell Foundation, MetLife Foundation, and Omidyar Network

EasyPlan’s journey till now

Nihar, Siddhi, and Mayur are in their mid-twenties and reside in India’s urban locations. They fall under the middle-income segment (Figure 1) and prefer flexible saving options to achieve their short-term goals. Earlier, they could not save efficiently as most banks do not offer short-term saving instruments at desirable interest rates. Thus, they ended up spending their income on discretionary expenses. EasyPlan emerged as a solution with its offering of mutual fund-linked savings. It gives its customers the flexibility to save as much as possible, withdraw within a day’s notice, and earn higher returns than traditional savings products. These features encouraged Nihar, Siddhi, and Mayur to try EasyPlan’s simple and intuitive mobile application, and soon they started saving money. (See our previous blog for more on EasyPlan).

EasyPlan has reached a customer base of 200,000 in India. The startup has impacted the lives of its customers in several ways. As illustrated below, EasyPlan has helped Nihar, Siddhi, and Mayur fulfill their goals by helping them build regular saving habits and providing them accessible and flexible options to invest in.

The COVID-19 pandemic altered the behavior of EasyPlan’s customers and redefined the startup’s business approach

As COVID-19 ravaged people’s lives, India witnessed a significant change in consumer sentiments. With economic instability and job losses leaving profound impacts on all strata of society, people from across income segments changed their financial behavior. While the GDP fell, people grew increasingly uncertain about future incomes and started to save whatever they could, fearing “rainy days” ahead. People’s saving levels as a share of GDP increased from 10% in the first quarter of FY 2019-20 (Jan-Mar, 2020) to 21% during the same period in FY 2020-21 (Apr-June).

Likewise, people in the middle-income segments too saw the pandemic upending their lives. In India, the middle-income segment can be divided into three sub-segments—strugglers, aspirers, and the mid-affluent, as indicated in orange in Figure 2 above. Each sub-segment’s financial behavior is characterized by its financial health, demographic, socioeconomic, and behavioral factors. These differences play a crucial role in determining their perception, uptake, and preferences toward various savings and investment instruments.

In the wake of the pandemic, each sub-segment faced distinct sets of challenges that affected their livelihood (as depicted in Figure 2). Many of them saw their income decrease and faced a cash crunch during emergencies. EasyPlan observed similar changes for its customer base across these sub-segments. It analyzed the savings behavior of its existing base, which revealed that even though the income of people during the pandemic became irregular, the pandemic has strengthened savings behavior. This change in behavior also snowballed into EasyPan acquiring new customers from the middle-income segments. However, before doing so, it delved into understanding how the middle-income segment portrays diversity across the wider income range that builds this segment.

EasyPlan then moved forward with a much more nuanced understanding of the savings requirements, risk appetite, and needs of the various sub-segments, as highlighted in Figure 2 above. This understanding helped them target the new customers as per their needs and support them throughout the pandemic. As a result, EasyPlan could retain its existing customer base while onboarding a new set of customers by tapping into their savings needs.

As seen in figure 3, the Lab investigated challenges that Mayur, Nihar, and Siddhi faced. The investigation identified factors that affected the behaviors of the sub-segments, as represented by the three personas, and influenced their perspectives toward different financial instruments. These factors include demography, socioeconomic situation, financial health, and goals. The Lab assessed various internal and external factors that play a vital role encouraging the adoption of mutual funds among customers, such as their level of financial literacy, preferences around liquidity, time horizon, risk resilience, complexity of products, and availability of the overall infrastructure.

With deeper insights based on market research and the Lab’s support, EasyPlan narrowed the target market to “Aspirers.” Accordingly, the EasyPlan team was tweaking its business strategy at the time of writing to stay ahead of the competition.

“This analysis helped us highlight the sub-segments that form a part of the bigger monolith of the middle-income segment in India and learn how these sub-segments portray varied needs in choosing savings instruments and possessing different levels of risk appetite. We also understood how their savings behavior changed during the pandemic.” — Manisha Pandita, co-founder, EasyPlan

Way forward

EasyPlan’s simple yet powerful business concept of goal-based savings for its target segment found resonance with a promising Indian neobank, Jupiter. Through collaboration and partnership, it envisions building a mobile banking application for India’s smartphone users. The platform will not act merely as a technology-empowered banking platform. Instead, it will serve as a finance app for users by giving a single view of their accounts across other banks along with their savings and spending patterns. EasyPlan’s savings solution will be an integral, and independent part of the platform—and it will complement Jupiter’s objective of acquiring new customers to use their savings products, along with its existing customer base which will get access to an advanced savings product.

This blog post is part of a series that covers promising FinTechs that have been making a difference to underserved communities. These startups receive support from the Financial Inclusion Lab accelerator program. The Lab is a part of CIIE.CO’s Bharat Inclusion Initiative, and co-powered by MSC. #TechForAll, #BuildingForBharat.