9. Ram Shriram, Founder _ CEO- Mahagram- The 10 Most Promising Finance Companies In India 2022

Banking & eGovernment mPowering

Mahagram is a technology-driven company, focusing on creating India’s largest network of last-mile retail points-of-sale, to potentially enable every Indian to seamlessly benefit from financial inclusion, Government programs, and wider access to basic goods and services. They are a Mumbai-based well-recognized fintech company established in June 2015 with a presence in almost all the states in India.

They leverage their vast network of retail access points to deliver real-time BFSI services, Government-to-Citizen Services, and Business-to-Consumer Services to the unserved rural, semi-urban, and urban markets. They aim to be the most trusted consumer service point for rural India, by making solutions even more simple & sustainable; offering products & services that are even more reliable & affordable, and imparting customer service that is even more friendly. No matter how remote, excluded, or poor they might be, they promise to give every rural Indian their rightful access to basic modern banking, within walking distance from their homes. Along with this, they also promise to bring closer to affordable and quality products & services that improve their essential living standards.

What do they offer?

  • Open banking APIs: Build awesome payment product using mahagram’s payments APIs sandbox. Build your NEO Banking Platform using their Open banking APIs.
  • NEO banking (Bharat ATM): ItprovidesHigh Commission, Fastest Settlement, and Low Charges.
  • Fintech solution: Custom fintech + payment solution loaded with all the business functions, modules, and channels to help you scale up. From your business branding to your internal processes, any customization is as easy as integrating an API.

Mahagram is servicing nearly 8000 PIN codes and providing basic banking, e-Governance & other BFSI services through the distribution network of around 5000 distributors & 200k+ retail partners (Mom & Pop stores).

With an ever-increasing user-base, Bharat ATM has been successfully delivering banking solutions that one could need right from opening a bank account, sending or withdrawing cash with zero charges, easy loans, and investment options with high returns. Bharat ATM highly prioritizes its user’s privacy and security. This platform is one of the top players in the Fintech field as they focus on providing a transparent, delightful & hassle-free neo banking experience.

Neo banking in India has scope for significant growth as MSMEs in the nation can avail of the services offered by them on a large scale. With the help of the digital inclusion initiative, neo banks can even tap the underbanked population of India.

Currently, Neo bank operations are subjected to certain limitations in the Indian ecosystem. If the right bugs of this Neo banking model are fixed and the model is tailored according to the Indian needs, the future looks rather promising for Neo banks and all the possibilities that it opens up for the world of banking.


Leave a Reply

Your email address will not be published.