Reaching the Underserved: Moneyview’s Mission to Democratize Credit in Bharat

In the dynamic landscape of India's economy, the real growth story is unfolding beyond the confines of metropolitan cities—in Bharat. This segment, encompassing Tier 2 and 3 towns as well as rural areas, holds immense potential for businesses willing to tailor their products to meet its growing needs.

Bharat is hungry for financial products as its population is experiencing rising incomes and higher education levels, which has sparked a demand for diverse financial services, including credit and insurance. These regions were once on the periphery but are now emerging as vibrant centers of financial activity.

Moneyview has recognized this potential and is actively building solutions to serve the financial needs of Bharat. In a country of over a billion people, just 10% have access to formal credit. Moneyview aims to serve the remaining 90% with its financial products and services. Leveraging artificial intelligence, it delivers instant personal loans and credit tracking through a digital-first strategy, ensuring accessibility across diverse demographics.

Cracking the Bharat Code

The Bharat opportunity is immense, and achieving success in this segment requires a deep understanding of its diverse population. With India's middle class set to grow from 300 million to 500 million in the next decade, and the country poised to become the third-largest economy, Bharat will drive much of this growth. Bharat's population accounts for 50% of consumption today, underscoring its crucial role in India's economic future.

Unlike the more uniform top segments of India, Bharat’s people have varied financial needs and affordability levels. Moneyview tackles this by customizing its financial products for different groups within Bharat, ensuring users get what is most relevant to them.

Given that many people in Bharat reside in remote areas, traditional methods of outreach can be challenging. Moneyview's digital-first strategy allows it to connect with users across India, including those in smaller towns. This digital approach has been crucial in ensuring that Moneyview serves customers who might otherwise be underserved by traditional financial institutions.

Building trust is another significant challenge when offering financial products digitally, especially in a market where many are accustomed to face-to-face interactions in bank branches. Moneyview addressed this challenge by investing heavily in trust-building measures. Moneyview has made its app accessible in 10 local languages, accommodating users who may not be comfortable with English and Hindi.

Moneyview has approximately 75 million app downloads, with nearly 75% of users residing in tier two and tier three towns, representing the core of Bharat. As the company continues to evolve and expand its offerings, it exemplifies how Bharat is eagerly ready to embrace financial products.