Fintech Startup BANKIT starts operations to provide banking facilities at doorstep

Mar 08, 2018, 12:38 IST | ANI

Inspired by India government's push for financial inclusion and focus on promoting digital transactions, Fintech Startup BANKIT has launched its operations in the country

Representation pic
Representation pic

Inspired by India government's push for financial inclusion and focus on promoting digital transactions, Fintech Startup BANKIT has launched its operations in the country. By launching it the company through its B2B Channel will provide banking facility to unbanked people and underbanked people who have limited or no access to the banking facilities and digital payment solutions.

"Its payment solutions are simple and secure and are delivered via a wide range of devices -- desktop systems, laptops, smart-phones or tablets and hence preferred by the Channel partners," said a press statement. BANKIT provides Banking services like Domestic money transfer anytime to any bank in just seconds, even on Sundays and holidays and the transactions are safe, simple and secure.

The company is promoted by a Non-Resident Indian (NRI) who believes that each Indian citizen beyond the geographical and literacy boundaries should have access to the financial facilities in the simplest and the safest way nearby their doorsteps and promote the entrepreneurship.

'We want to be the pioneers of formation of a new India where everyone has the access to the banking facilities and don't have to struggle for the basic banking and financial needs. With the vision to become India's largest and most trusted payment solutions company, we are working to open more than 10,000 such digital and branded BANKIT stores across the country,' said Director and COO Amit Nigam.

The government's enthusiastic promotion of cashless technologies ' digital wallets, Internet banking, the mobile-driven point of sale (POS) and others ' as well as the launch of initiatives including Aadhaar, eKYC, UPI have also facilitated to restructure the financial sector, disrupting the long-held monopoly of traditional institutions like banks.

Furthermore, in recent years, access to the banking system has also improved significantly, thanks largely to the government's efforts to integrate technologies into the other conservative sector as well as facilitate expansion in unbanked and non-metro regions across the country. BANKIT intends to further extend the reach of banking facilities to all these unbanked and underbanked people across India.

The Fintech start-up has opened more than 6000 outlets in 22 states and is spreading its wings rapidly across India. It has kept a target to add 1 lakh such outlets in the urban and rural part of the country by 2020 under the expansion plan. It aims to translate the vision of the government of digitising rural India and make new Entrepreneurs.

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