RATTANINDIA ENTERPRISES INTRODUCES ‘BANKSE’ ALL- DIGITAL ONE STOP SOLUTION PLATFORM FOR ALL FINANCIAL NEEDS

RattanIndia Enterprises (REL), a leading Company that is building businesses in new-age sectorsincluding electric motorcycles, drone solutions, e-commerce and fintech, today announced the launch of its all-digital, financial aggregator platform, BankSe on the popular android mobile platform and through the web portal www.bankse.in

BankSe, a one-stop financial solutions provider, is designed with a tech-driven approach, to analyze multiple life-stage and financial parameters of customers and to come up with tailored solutions, that are well-priced for their individual requirements. It has developed a platform which connects with the defined processes of the lenders, thereby offering them instant visibility of customer’s background and their historical financial records. At launch, it is partnering with large commercial banks and NBFCs in India to present maiden offerings in the personal loans, 2W-loans and credit card segments, with several more categories to be added subsequently. 

Prospective customers will now have the convenience of logging onto the app or website and uploading requisite documentation digitally to experience outcomes in real, quick time. Hitherto used to multi-step, offline processes involving 3rd party intermediaries, BankSe will usher in convenience like never before. As an additional feature any customer using BankSe will be able to get apersonalized credit score, entirely free of cost. 

Commenting on the occasion, Anjali Rattan Nashier, Business Chairperson of RattanIndia Enterprises Limited said,

“BankSe fulfills the basic tenet of universal financial inclusion, byproviding credit, when and where it is most required. With the formal launch of India’s premier, digital one-stop financial solution provider, REL seeks to create a vibrant model bringing established sector behemoths together on a common platform, where customers can access financing as per their own terms and pace. With an intuitive, tech-enabled platform, all users shall be able to avail chosen lending products in a matter of clicks. We are proud to be associated with India’s leading banks and NBFCs, as our day one partners in this endeavor. As the model evolves, we shall introduce new features, products, and partners through the platform.  We believe that our solutionsbased approach is bound to have a positive multiplier effect on the economy, as customers begin to self-service financing, to match their aspirations and needs.” 

BankSe is owned by NeoTec Enterprises Limited (NEL), which is the wholly owned subsidiary of RattanIndia Enterprises. It has been envisioned with the core premise of making available everydigital financial solution to customers, that established banks have to offer. The ready efficiency and technology-backed processes behind this platform represent a win-win combination that has the potential to rapidly formalize an industry, which till now comprisesof disparate intermediaries.

India represents a big opportunity to create financial inclusion, at scale, for multitudes. With 90 crore bank accounts (as of end FY21), the country has the potential to serve majority of itspopulation through banking services. The overlay of ~72 crore 4G connections (as of end FY21) present an actionable conduit to create digital first solutions. This is complemented further by 130 crore issued Aadhar cards (as of end FY21) thereby enabling a seamless pathway to access, on-board and authenticate eligible customers onto a pureplay digital platform for financing products. 

India’s consumer lending market in FY20 stood at Rs. 32.8 lakh crore, in terms of outstanding credit balances. As a % to GDP, this stood at 16.7% in FY20, relative to 79.2% in the US and 55.6% in China. This is largely being the outcome of under penetration of credit in India. It is estimated further that India’s consumer credit market will reach Rs. 49 lakh crore in FY2025 and Rs. 78.1 lakh crore in FY2030, indicative of its huge latent potential to grow.

Presently, consumer finance gets serviced through 3rd party intermediaries or DSAs (Direct Selling Agents), which are the primary route for availing loans by the customers. BankSe ushers in a future-proof, all-digital method to disburse loans with none of the complexities of the traditional channels and in far quicker time.This means there is a significant room for technology-leddisruptors like BankSe to gain substantial market share by offering a trustworthy and accessible alternative, which is tailor-made based on customers’ specific requirements. BankSe will aim to be a onestop solution provider putting the customers right at the heart of the process.
• Launch day partnership with India’s leading banks. Success based fee/ commission model• End-to-end digital relationship, with real-time borrower status updation• No RISK/ No FLDG portfolio. Full stack capability in-built• Positioned as one stop solution provider for all financial needs

New Delhi, February 14, 2022 – RattanIndia Enterprises (REL), a leading Company that is building businesses in new-age sectorsincluding electric motorcycles, drone solutions, e-commerce and fintech, today announced the launch of its all-digital, financial aggregator platform, BankSe on the popular android mobile platform and through the web portal www.bankse.in

BankSe, a one-stop financial solutions provider, is designed with a tech-driven approach, to analyze multiple life-stage and financial parameters of customers and to come up with tailored solutions, that are well-priced for their individual requirements. It has developed a platform which connects with the defined processes of the lenders, thereby offering them instant visibility of customer’s background and their historical financial records. At launch, it is partnering with large commercial banks and NBFCs in India to present maiden offerings in the personal loans, 2W-loans and credit card segments, with several more categories to be added subsequently. 

Prospective customers will now have the convenience of logging onto the app or website and uploading requisite documentation digitally to experience outcomes in real, quick time. Hitherto used to multi-step, offline processes involving 3rd party intermediaries, BankSe will usher in convenience like never before. As an additional feature any customer using BankSe will be able to get apersonalized credit score, entirely free of cost. 

Commenting on the occasion, Anjali Rattan Nashier, Business Chairperson of RattanIndia Enterprises Limited said,

“BankSe fulfills the basic tenet of universal financial inclusion, byproviding credit, when and where it is most required. With the formal launch of India’s premier, digital one-stop financial