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FinSathi

Democratizing Financial Services in India

Created on 4th November 2024

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FinSathi

Democratizing Financial Services in India

The problem FinSathi solves

India faces significant challenges in financial services accessibility:

  • Low insurance penetration (4.2% as of 2021)
  • Limited access to quality investment advisory services
  • High fraud rates in insurance claims
  • Complex processes that deter adoption
  • Financial services primarily focused on HNI/UHNI segments

Challenges I ran into

  • Designing for diverse user demographics (rural/urban, different education levels)
  • Supporting multiple Indian languages
  • Creating an interface usable by both tech-savvy and non-tech-savvy users
  • Ensuring accessibility on low-end devices

Financial Inclusion:-

  • Making complex financial products understandable
  • Creating affordable service tiers
  • Building trust with first-time financial service users
  • Balancing features vs simplicity
    Technical Implementation:-
  • Maintaining performance with rich UI components
  • Ensuring security for financial data
  • Managing state across complex financial workflows
  • Building a scalable component architecture

Tracks Applied (1)

Democratizing Insurance and Investment Advisory for Indians

India faces significant challenges in financial services accessibility: Low insurance penetration (4.2% as of 2021) Li...Read More

Discussion

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