"The NEO-Bank of the Country"
India is a Middle-class majority Country
India has a huge gap between the financial access available to the Urban population vs the rest of the country. Banking in general is focused at catering the privileged few.
Trapeza bridges this gap using innovative products designed for the MASSES.
The only savings known to most are in the form of gold or money in kitchen pots. Savings are only done for a purpose eg. Marriages. No connection to organised savings instruments and so no interest is earned on money saved.
Trapeza pushes and nudges the segment to save small amounts and collectively invests in regulated savings schemes. Thus earning anything between 7-14% interest.
Access to Credit
This segment often end up with higher interest on credit due to the lack of proof of authenticated paying mechanisms. Traditional banks ignore this sector due to the lack of financial scores or data.
Access to Credit
Trapeza strives to create financial data with various scehemes and using the large Trapeza agent network, thus enabling lending to this segment at market rates.
Introduction of vernacular and voice search/recognition will help ease the digital banking experience for the Trapeza’s target consumers.
Trapeza needs to go vocal to reach out to its local customers staying in either villages or urban areas.
Need of transferring of the funds for the urban poor and migrant labourers to their family members staying at their native places. They should be provided with the solution of convenient fund transfer and ease of access to anyone.
There are many companies providing digital platforms for online banking, but Trapeza stands out by focusing on specific target groups which are migrant laborers, urban poor, and farmers.
Currently banks need to scale-up IT Investments from 2% to 8-10% of their top line for effective management of growing digital transactions, say experts.