The stark reality is that most poor people in the world still lack access to sustainable financial services, whether it is savings, credit or insurance. In India, this translates to 400 million people who manage their finances on a cash-only basis and have restricted or no access to financial services.
The greatest challenge is to relax the constraints that exclude people from full participation in the financial sector. This is where FIA comes in. A company started by a team of students from MIT, FIA makes the economics work for banks to serve the underserved. FIA aims at popularizing the use of alternate technologies for enhancing the efficiency and security of financial transactions. Our award-winning model combines an extensive distribution channel and product portfolio to bridge the huge demand-supply gap for financial products and services in under-served geographies.
FIA’s aim is to bring about an evolution in how the under-served can capitalize on the digital growth opportunity. Our goal is to create the largest network of FIA Inclusion Centers to enable individuals to avail an array of services – Financial inclusion, Skill Development, Livelihood Opportunities, Digital Payment Solutions and access other socially impactful products and services.
Building an inclusive financial system is the first step towards inclusive growth and sustainable prosperity. Setting up digitally integrated, empowered communities with affordable access to basic services is the ultimate aim of FIA.