Members participating in E-panel discussions:
- Mr. Prabhanjan Dhotre, Principal, Beehive Capital Advisors Pvt Ltd
- Mr. RaviKanth Pynda, Founder, Happi-pay
- Mr. Anand V, Vice President & Product Head- NRI Business, Kotak Mahindra Bank
- Mr. Avro Mukerji, Investment Counselor- NRI Burgundy, Axis Bank
- Several other Bankers & Fintech professional of the FIAKS community
FIAKS community Question: Why Fintech companies are mostly catering to elite and affluent customers while large opportunity in the lower middle class remains untapped? What kind of fintech solutions can be offered to these lower middle class who are using Smart Phone, Internet, Facebook, also able to download apps but donot have not good English but communicate (read & write) well in the local language.
FIAKS Community Debates
FIAKS expert mentioned that they conducted a very informal survey/research across a small population for an upcoming NBFC on the credit needs of the unbanked. The requirements that came forward for fintech solutions were school fees, medical expenses and white goods(TV, Fridge, Phones) then two-wheelers and ultimately business loans e.g. drivers taking a loan for buying cars to run in the local rental circuit as well as Ola/Uber.