SEPTEMBER 20219BUDDING BIZZTata Digital is preparing to provide financial ser-vices such as credit, mu-tual funds, and insurance through partnerships with licenced financial institutions. As a result, the brand is likely to add Tata Super app powered by neobank, which is expected to mimic its competitors Flipkart and Amazon in offering a diverse set of financial services.The news comes after Tata Digital invested US$75 million into ex-Flipkart executives' health and fitness startupCureFit (now called Cult.fit) earlier this month.Super App is essentially a digital mall where customers can get eve-rything they need from the same app - groceries, medicines, and so on.The Tata group has consistently contributed to the nation's edifice by developing businesses that have laid the groundwork for India's growth.Tata Digital is expanding its e-commerce offerings by acquiring BigBasket and 1mg, and it is now eyeing financial services to offer credit, insurance, and mutual funds on its upcoming super app via a neobank.Tata Digital's soon-to-be-launched 'super app' is expected to include financial services such as credit, insurance, and mutual funds. According to sources, this would be accomplished through collabora-tion with licenced financial institu-tions, as the digital arm of India's largest conglomerate prepares to compete with established players such as Amazon and Flipkart.Tata Digital has established a neobank vertical and is enlisting the help of industry veterans to do so.TATA DIGITAL TO ADD NEOBANK TO ITS UPCOMING SUPER APPSuper App is essentially a digitalmall where customers can get everything they need from the sameapp - groceries, medicines, and so on
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