JULY 202219Financial future is an All-Encompassing GridbranchX leverages the JAM (Jan Dhan-Aadhaar-Mobile) concept to launch its own BIGJAM. This is a grid wherein, the card works as a bank, the app as a ledger or a passbook, and Xenie serves as a digital assistant. This grid is intended to help customers engage with the app on a continuous level and benefit financially.As their first product launch, branchX offers a card innovation specifically designed for the Indian domestic migrant - Raja Rani Rupay Cards, a two-card combo that serves the whole family, assisted by the branchX app. Xenie, branchX's friendly AI assistant, makes it easy for customers to enter the digital economy efficiently and diligently. The result is not just that the underserved have joined the ranks of those who have access to digital banking--they are also better able to manage their and their families finances, all in one place!Value-driven growthbranchX is a team of Xenies, physical manifestation of the digital assistants - highly passionate & innovation driven people interconnected through a shared value; empathy. The firm further intends to instill this value to its agents & partners. Empathetic banking should be the new normal. "Fifty rupees or five hundred, every penny and its bearer should be respected and taken seriously. Most migrants come from villages to work in the city and clear their debts in the village. They have more than $50 billion at their disposal annually and mostly spend in cash. We want them to enjoy the benefits of the mainstream economy and increase their wealth. Every hard earned income is to be treated emphatically," concludes Ankur and Rahul, co-founders of branchX.branchX is a good example for FinTechs that want to penetrate the Indian market beyond the 10 crores affluent Indians. Last year, through branchX, 3 million Indian migrants did $400 million worth of transactions reaching 6.2 million beneficiaries. Armed with intelligent technologies and a smiling Xenie, they are definitely onto something huge with such a large customer cohort working hard to make the country's post-covid economic recovery sustainable! "branchX's Xenie, an AI-powered super-algorithm, and customers' friendly financial assistant provides the hand holding needed to solve the problem of financial education for the underbanked"
< Page 9 | Page 11 >