FINWISELY FINTECH SERVICES PRIVATE LIMITED

In their own words

About Finwisely Fintech Services Pvt. Ltd. Finwisely is a digital platform to distribute personal finance products through its channel partners. We aim to enhance the capabilities of intermediaries, who in turn will help the customers to achieve their financial goals in a simple and smart way. We believe that in the financial services industry, a right balance of touch and technology is essential to build on the trust the customer has in the intermediary. The company is founded by veterans in the BFSI domain and we bring in expertise in the fields of distribution, operations and digital. What do we do? In an increasingly digital world, consumers still find it difficult to buy financial products online and need physical/tele-assistance before making a choice. We believe in assisted sales where technology will work as an enabler. Technology will bring in simplicity and convenience. The product recommendations are based on the customer profile and the needs that he/she may have. We intend to on-board channel partners across the country who can take our platform to the last mile and offer the personal advise that is deeply missing and much needed by most customers. Apart from providing unbiased comparisons, our channel partners will also provide with best-in-class assistance enabling consumers to get the best possible deal with minimum hassles. Our platform will enable product comparisons based on multiple criteria (brands, product type, processing fees, interest rates, tenure etc.). The best fit will be recommended by the platform and the channel partner just needs to put it across to the customer. What is our Business Model? Our operating business model will be B2B2C. The model is divided in two phases. The first phase is B2C which has already commenced in Navi Mumbai/Mumbai and the second phase is B2B. Phase 1: B2C Stage 1: Distribution of Mutual Funds and Home Loans online and through physical 1. The customers are acquired by both physical and digital efforts 2. To deliver the physical efforts, we have a dedicated FOS team Stage 2: Introduction of Loan products from Banks / NBFCs 1. We have partnered with 5 financial institutions 2. We are empanelling DSAs to increase our footprint 3. We are also in the process of tying up with CAs / ex Bankers / Real Estate Agents etc. Stage 3: Introduction of Insurance products from LI & GI companies 1. We will be taking up a Broking license 2. Tie-up with Life and non-life insurance companies 3. We will also set up POS agents All the above products and more will be made available on the platform. Our channel partners / agents will be able to recommend the products and capabilities based on the risk profile of the customer. The customer will also get a single view of all the products bought and an update on product performance. Phase 2 - B2B2C We have enough examples to believe that consumers still believe in “physicality” of the intermediary / service provider for trust / convenience reasons. We would like to leverage the trust the customer reposes on the agent and use the power of technology to offer the best deals. To that extent, we will empanel channel partners who will represent Finwisely and take our services to the last mile i.e. the end consumer Apart from providing unbiased comparisons, our channel partners will also be able to provide best-in-class service to their customers through the platform. The channel partners will be empowered to get a single view of all his customers. 1. We are also building a layer for the channel partners to login and get a single view of all his customers 2. The channel partner will be able to offer multiple products across brands based on the customer’s profile

Written by the company on its public Startup India profile. Not verified by us.