The youth of today are significantly distinct from those of the previous years. They are visionaries and dreamers who venture out into the world to bring about changes and build enormous empires. With today’s youth, we see new challenges and as they say, with new problems come new solutions.
These realities have given birth to mPokket, a fintech platform that has solutions for every young individual’s needs. Headquartered in Kolkata, it specialises in providing college students and young professionals instant personal loans, taking care of people’s financial needs who might not have access to conventional banking services or credit facilities, all over the country through mobile apps, leveraging digital technology to simplify the loan application and approval process, making it faster and more accessible compared to traditional lending institutions.
The platform today has a bigger impact due to its emphasis on more intelligent underwriting, simple onboarding, and partnerships with ideal vendor partners. Almost 90 per cent of its customer base benefits from algorithmic underwriting and speedier processing in 2023, compared to 12 per cent in 2022.
Tailoring Youth’s Needs
The most unique element mPokket offers is its target audience. While other fintech businesses might cater to a wider customer base, mPokket focuses on a particular group of people, recognising their issues and accommodating its services accordingly.
This story is from the 29 July 2023 edition of Businessworld India.
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This story is from the 29 July 2023 edition of Businessworld India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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