Digital lending platform True Balance makes finance available for all

Owned and operated by BalanceHero Group, True Balance is a RBI authorised prepaid payment instrument issuing entity and an emerging digital lending fintech platform. It aims to become the go-to financial services platform for the next billion people in India and is playing an active role in its nationwide push towards the goal of digital India and advancing financial inclusion amongst the unbanked and underbanked community.

Presently, True Balance prides itself of having more than 75 million users on its platform and is looking to broaden its customer base in Tier 2 and 3 cities in India. 

To share further insights on India’s rapidly growing fintech market, particularly the digital lending space which is by far the fastest-growing fintech segment in the country, we speak to Souparno Bagchi, Chief Operating Officer from Balancehero India.

 Souparno talks about:

• The idea behind True Balance and what it was set up to solve.
• True Balance’s products and services and its customer base and how it is bridging the credit gap and addressing this unmet consumer need.
• The underbanked and unbanked communities in India and how True Balance is addressing their pain points.
• Key challenges, obstacles and opportunities faced by True Balance’s stakeholders in this growing ecosystem.
• A deep dive into eKYC, the centerpiece of True Balance’s business and how the organization stands out as a differentiator in this area.
• The secret behind True Balance’s large and loyal user base and how it sustains a large number of repeat clients.
• The exponential rise in online/digital banking, neobanks and other disruptive fintechs in India, including key consumer finance trends in India.
• How India compares with China in relation to fintech and banking.