The India Post Payments Bank (IPPB) has announced the launch of Fincluvation, a collaborative initiative with the fintech startup community to co-create and innovate solutions for financial inclusion.
Speaking on the occasion, Ashwini Vaishnaw, Minister of Communications, Electronics and IT, and Railways, said, the country made rapid strides in fintech space with innovations like UPI and Aadhaar. “Fincluvation is a step in this direction, an industry-first initiative to create a powerful platform to mobilize the start-up community towards building meaningful financial products aimed at financial inclusion. Combination of IPPB’s banking stack, DoP’s trustworthy doorstep service network and the techno-functional acumen of start-ups can deliver unmatched value to the citizens of the country,” the minister added.
“Fincluvation will be a permanent platform of IPPB to co-create inclusive financial solutions with participating startups. IPPB and DoP collectively serve close to 430 million customers through neighbourhood post office and at their doorsteps via more than 400,000 trusted and capable post office employees and Gramin Dak Sevaks – making it one of the largest and trusted postal networks in the world”, said Devusinh Chauhan, Minister of State for Communications.
“Through Fincluvation, we wanted to create a platform that can provide an opportunity for startups to work together with us in understanding the needs of the underserved customers to deliver products with a positive impact and more importantly in a cost-effective manner”, said J Venkatramu, MD and CEO, IPPB.
Start-ups can apply on Fincluvation page https://www.ippbonline.com/web/ippb/fincluvation.