India Post Payments Bank (IPPB) launches ‘Fincluvation’

India Post Payments Bank (IPPB) launches ‘Fincluvation’

  • The India Post Payments Bank (IPPB) has launched an initiative called Fincluvation, as a part of the occasion of the Azadi ka Amrit Mahotasav to celebrate 75th anniversary of Indian Independence.
  • Fincluvation is a joint initiative to collaborate with Fintech Startup community to co-create and innovate solutions for financial inclusion.
  • Fincluvation will be a permanent platform of IPPB to co-create inclusive financial solutions with participating start-ups.

Startups can develop solutions aligned with:

  • Creditization – Develop Innovative & Inclusive credit products aligned with the use cases of target customers and take them to their doorsteps through Postal network.
  • Digitization – Bring convenience through convergence of traditional services with Digital Payment Technologies such as making the traditional Money Order service as Interoperable Banking service.
  • Any Market-led solutions that can help solve any other problem relevant to IPPB and/or DoP in serving the target customers.

Points to Remember:

  1. ‘Fincluvation’ is a financial inclusion initiative launched by which bank?
  2. Name of the joint initiative launched by IPPB with Fintech Startup community to co-create innovative solutions for financial inclusion? Fincluvation

Source: PIB

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