MyMoneyKarma's new platform to revolutionise fintech biz
Ramps up its partner network by 748% last year, aims 1,500% growth next year
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Hyderabad: US-based fintech company MyMoneyKarma announced the launch of its fully integrated digital platform across vast network of financial partners - KarmaPro portal. It has been accelerating the digital revolution in personal finance for the past five years and provided service to over 1.9 million users with its six critical financial products.
After ramping up its partner network by an unprecedented 748 per cent last year, the company aims to achieve 1,500 per cent by next year. It has projected the growth strategy by expanding the fintech ecosystem. The technological innovations are all set to revolutionise fintech business and empower its financial partners to become efficient and customer friendly.
The startup was founded by Stanford graduates, incubated in Silicon Valley at Stanford StartX, and led by domain experts from the Indian Banking sector, provides intelligent financial products with a social mission of empowering customers to make great financial decisions and save money on their loans. It combines deep consumer understanding and industry knowledge to unlock value of customer savings.
"In an unstable and volatile business environment where companies were forced to cut investments, service levels and staff, and where consumers were hit on both sides by dropping income and rising inflation, MyMoneyKarma grew 100X by delivering huge savings for customers and doubling down on technology," says Varun Agarwal, COO and Head of Business Development at the fintech company.
Being optimistic about the future outlook, he said, "By leveraging KarmaPro, we will be on-track to ramp up the network by 15X. After 100 per cent transition to the platform, MyMoneyKarma will be in a position to clock Rs 2,500-crore worth of loan disbursement per month from the current Rs 500 crore per month. This should enable us to safely target Rs 5,000 crore per month by 2024."
"By fully realising KarmaPro's capabilities throughout our network we will be hitting Rs 10,000 crore per month," says Varun. "The newly launched platform is an online tool that allows financial partners to easily manage their cases, monitor progress, simplify processes digitally, complete transactions end-to-end from logging-in to receiving payments, resolve issues, and understand and grow their business."
"This high-performance culture fully aligned around customer needs was the reason MyMoneyKarma was recently certified as a 'Great Place To Work' with a 'Trust Index' was ranked 300bps higher than India's Top 75 mid-sized companies, by Great Place To Work, the Global Authority on Trust and Performance in businesses," he adds.
