Original Source: Accion
Technology is transforming financial services in countless ways. Staff can analyze data at the push of a button, customers can access accounts anywhere and anytime with a phone or computer, and, perhaps most relevant to Accion’s work, financial service providers are using tech-enabled products and services to reach the underserved populations we champion. And yet, in many cases, these services still have a human voice or face, increasing customer comfort and ensuring the relationships go smoothly.
In our recent paper, “The Tech Touch Balance: How the Best Fintech Startups Integrate Digital and Human Interaction to Accelerate Financial Inclusion,” we showcase several fintech startups in the Accion Venture Lab portfolio that are finding an optimal balance between tech and human interaction, making their offerings accessible, affordable, and attractive to their target customers. Three are located in India: CredRight, SMECorner, and Toffee.
India has been an especially dynamic country for fintech startups in recent years, due to the government’s prioritization of financial inclusion. Initiatives like IndiaStack are making it possible for millions of low-income Indians to open bank accounts and access other financial services for the first time. And Indian fintech entrepreneurs are coming forward with new ideas for products and services that build on this emerging and more inclusive financial infrastructure.
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