2022: The year of Digital Financial Solutions

2022: The year of Digital Financial Solutions

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The year 2022 is seeing a renewed focus on financial inclusion via digitalization. With the enablement of digital infrastructure, consumers can simplify their financial transactions using the internet and smartphones. Safety and convenience have made web and mobile applications the most preferred modes of payment to buy or sell goods and services.

Technology initiatives, introduction of newer products and creating the complete digital experience (zero paperwork) by FinTechs such as MyShubhLife has helped banks, NBFCs and financial institutions in serving millions of underserved Indians who are looking for easy access to their services. 

Speaking of underserved, there is a real need to empower small town and rural populations with innovative digital financing solutions. With minimum internet connectivity, people in Tier 2 & 3 cities can carry out secure financial transactions using smart apps. From Bill Pay systems to accessing formal credit, salaried and self-employed workers across India benefit hugely from the speed and convenience of digitization. All thanks to the modern day FinTechs. 

As the Indian economy takes strides towards its recovery and growth after the pandemic, it is more crucial to strengthen financial inclusion and digitalisation.The ability of fintechs to reach out to the unserved and underserved sections of the country is clearly evident by the recognition it has gained from the government and other key stakeholders in recent past. Boosting the sector will ensure further scaling of financial inclusion. 

Cybersecurity, improved internet access and frictionless experience will contribute in making the digital ecosystem safe and secure for individuals and businesses. Economical and user friendly solutions are to soon become the norm of the day in making digital financial services accessible to all Indians. 

MyShubhLife is already offering end to end solutions at affordable prices to make financial inclusion a reality for the Next Half Billion people. With personal loans, earned wage access, Insurance, SIPs, E Gold, Bill Payment and Tax filing service, every Indian can access formal financial services and build their digital footprint, which will further help them in accessing customized products in future.

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