3 FinTech startups go multilingual to cater to regional India

By Leandra Monteiro

India is the country with soaring ambitions, and hopes to be on par with its global metropolitan colleagues. With huge internet penetration, the digital storm has brought the tier 2 and 3 cities to provide the next opportunity for growth for India. Emerging brands, especially in the financial industry, are aware of the same.

The number of internet users in India is expected to grow by 45% and reach 900 million by 2025, according to a report by IAMAI-Kantar ICUBE 2020. By 2025, internet users in rural India are expected to surpass urban India. FinTech companies are targeting the vast opportunities that exist in rural India, leaving no stone unturned to nail the mother tongue game and stay ahead in carving out a niche in the Tier 2 markets and beyond.

Here are 3 FinTech companies expanding their customer base by going multilingual:

KhataBook is a well-known web app that was established in 2016. Its primary mission is to provide assistance to the Small and Medium Enterprises (SME) sector in handling all kinds of transactions using their digital ledger service. They saw the need for a vernacular approach and collaborated on the development of a plan to reach out to audiences in various parts of India that were not yet reached.

The Khatabook app is a digital ledger made available to small business owners in India. It is managed by Kyte Technologies. It helps in the management of account books and also provides reminders via WhatsApp and SMS for the purpose of collecting money and making payments due. The software is available in over 13 different languages, so it can appeal to a wide range of users across the country.

The aim of the financial technology platform known as FatakPay, which was built exclusively for the Indian subcontinent, is to provide virtual credit facilities to workers through their employers. It is a safe method of accessing services that are fast, open and do not charge interest for daily necessities such as what you may need.

Marathi, Hindi, Tamil, Telegu, Gujrati, Bengali, Oriya and Kannada are some of the Indian languages ​​supported by the platform, which supports a total of eight Indian languages ​​to better serve its pan-India customer.

Known as a friend for banking and finance needs, BankSathi ensures that customers get the right financial product sourced from the appropriate bank or NBFC. This includes Demat accounts, savings accounts, credit cards, personal loans, crypto, insurance and more.

In addition, the platform’s use of technology enables people of all backgrounds to pursue a career as a financial advisor. Telugu, Hindi, Bengali and Marathi are the languages ​​in which advisers can access the website and its services.

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