Fintech API For India: A Reality Check

Mar 29, 2021 #api #api solutions #api provider #money transfer API

Technology solutions are empowering our nation to achieve the collective goals set for a more inclusive digital economy. Eko India is proud to be an active player enabling digital inclusion in rural and unbanked areas with robust open-source API solutions.

The availability of internet facilities across the length and breadth of the country has played a key role in enabling even smaller Fintech organizations to reach out to further otherwise-difficult-to-reach rural and unbanked areas of the country. Open Source applications have further made technology advancements more secure and reliable.

In a country with a large rural population having limited access to banks, sending and receiving money is a cumbersome and time-taking process. People have to travel for hours to visit the nearest bank to facilitate cash withdrawal and deposit, making banking a luxury. But with most of them having a bank account that is already linked with their Aadhaar number, Aadhaar Enabled Payments becomes a possible solution that can be operated through local Kirana stores and other retailers. A robust and secure API solution becomes the backbone of this effort.

Rural and semi-urban areas have very few banks. To address this opportunity, Eko has brought our channel partners’ retail networks under a single API platform to service the money remittance requirements of customers. Eko India Financial Services Ltd, with its 13 years of trusted service experience in the Indian financial industry is offering an easy-to-integrate, feature-rich and comprehensive array of Money Transfer, AePS and Verification API solutions.

Financial service providers are adopting the latest and advancing technologies to cater to the changing economics and increasing customer demands. Digital transformation, growing penetration of the internet & smart phones, favourable government regulations that aid the digital India initiative and adoption of future-ready technologies have accelerated the growth of Fintech organizations in India.

Eko India operates not just through systems and technology; we thrive with organized outlets and agents who are spread over the country making maximum utilization of this technology. Fintech has changed the face of money transactions and Eko has incorporated it to most parts of the country using Aadhaar enabled financial services. We build our customers and earn their trust through transparency of our working mechanism, pricing and its benefits. We communicate all our guiding and security principles in the open.

As a developing country, the majority of India’s population does not have access to easily available bank services. As we know, Eko India has developed this system and technology to enable simple, secure and hassle-free card-less financial transactions to aid the people of rural and semi-urban areas. But today we are trying to live in a world that is accustomed to life with coronavirus as we don’t have better options yet and Eko has tried its best to make your important transactions as safely. Eko as a Fintech company changed and helped the lives of so many people especially senior citizens and sick people.

With the rise of the global pandemic, the central and state government started providing direct benefit transfer. This has led to disperse around 35,000 million to the beneficiary accounts through the government. Therefore, the terminology AePS (Aadhaar enabled Payment System) has come to play a major role in indirect benefit of tier 2 and tier 3 sections of the population who were the most adversely affected due to job loss and other parameters of Covid 19 control.

Eko assured a revolution in the Indian banking system back in 2007 when it was the beginning of Fintech. Not only Eko continues to keep our word but we are consistently expanding and advancing making millions of lives better. Today we have successfully marked our presence in over 1000 cities with 55 million customers. Over the years we have built a foundation of trust and have perfected our technology making it easy, effective and better every day. It makes Eko India one of the most reliable Fintech companies.

Join us today to save your time, money and energy and be a part of the greatest financial evolution. Be a part of the rearrangement and advance and grow your entity today and in the future.