Bangalore (Karnataka) [India], July 10: In a landmark move set to revolutionize financial access across India, BranchX, a leading neobank innovator, has launched the nation’s first personal loan solution through the Open Network for Digital Commerce (ONDC). This initiative marks a significant step towards financial inclusion for India’s 1.4 billion people, particularly targeting the emerging middle class, young professionals, small business owners, and entrepreneurs who often face hurdles in obtaining loans from traditional routes replaced with a paperless experience.
The ONDC framework, an initiative by the Indian government to democratize digital commerce, forms the backbone of BranchX’s cutting-edge lending solution. BranchX’s personal loan product stands out with its digital-first approach, ensuring a paperless, transparent process from application to disbursement. This strategy not only improves affordability but also empowers borrowers to manage their finances more swiftly. In addition, BranchX is dedicated to enhancing financial literacy using voice AI Banking, providing customers with educational resources and personalized financial guidance to support informed financial decisions.
“Our partnership with ONDC highlights our dedication to using breakthrough technologies for the next billion Indians,” said Rajesh Johnny, CEO of BranchX. “By simplifying the lending process and expanding access to credit, we aim to drive economic growth for the previously unbanked communities of Bharat. Next in line is an SME lending product.”
Co-founder Sajid Jamal emphasized BranchX’s history of innovation in financial services. “BranchX has always been at the forefront of creating unique financial products like the Raja Rani card, which helps families manage expenses together. We also cater to our customers’ financial aspirations through micro-saving products linked to gold investments and even jewellery.”
With its user-friendly app already serving over 100,000 customers and facilitating $50 million in Gross Transaction Value (GTV) at the enterprise level, BranchX is poised to significantly enhance financial inclusion across India. (To explore BranchX’s innovative financial products, visit the official website or download the app from the Play Store).
BranchX remains committed to providing voice and AI driven financial solutions for the evolving needs and aspirations of India’s new middle class, fostering a more inclusive financial future for all. Leveraging the Account Aggregator and Digital Public Infrastructure BranchX ensures seamless, paperless journey for loan applicants.
About BranchX:
BranchX is a leading fintech neobank dedicated to offering innovative and accessible financial solutions using Voice AI. Through its advanced digital platform, BranchX aims to empower individuals and businesses with the tools they need to achieve financial stability and growth.
For more information, please contact: [info@branchx.in]
If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.