The innovation in the fintech industry has taken the world by a gust, becoming a universal phenomenon, as not confined by any region alone. The financial foundations are undergoing an intense transformation in the digital age - from their roles and responsibilities, service offerings, products to the distribution channels.
The global fintech sector has witnessed H1 2018 investments surpassing 2017 total to reach USD57.9 billion. Over the last two decades, the use of technology has helped consumers and conglomerates and their businesses to become a major part of digital India. The government initiatives and regulators for digital India, aided by the growing internet and smart-phone penetration, has led to the adoption of digital technologies.
The Digital India campaign launched by the government has been a key asset in empowering the country on the digital front. The empowerment on the digital front has widened the range for fintech companies to reach to a larger audience. Payworld is continuously working with the new technologies to make the services simplified for the rural and semi-urban population.
The brand has built a formidable presence in India with over 2,00,000 retail touch-points across 630 Districts and 23 states providing easy access to financial services such as Insurances, money remittance, investments, loans to untouched market segments and many more.
Recently, Payworld introduced a 'Chatbot' named as "Mira" which is helping the retailers to understand the functionality of the Payworld system in a much simpler manner. Secondly, in order to train the retailers, Payworld has been conducting 'webinars' on regular basis. The retailers can connect themselves on a LIVE Video to understand the product and services and also resolve their queries. Payworld additionally has various verticals and services provided to the core technology platform helping retailers to find solutions to their problems in minimum time. Payworld uses Data Analytics to cross-sell services to retailers and consumers and AI for resolving customer complaints.
"We have been working hard to train our retainers through webinars and our Chatbot, "Mira". Now our future plans include making our Chatbot Mira available in Vernacular audio too. This will help retailers in understanding our product and services in a better manner and in turn make life simple for the Indian rural population that goes to our retailer for financial transactions. We will bring more such innovations to make our network stronger and better." said Praveen Dhabhai, Chief Operating Officer (COO), Payworld.
"The Digital India Initiative has helped companies like us to expand our business across the country," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)