National, 30 October 2024, Wednesday: EdgeCX, a tech startup providing WhatsApp-focused technology solutions for the MFI sector, successfully hosted an exclusive ‘CXO Roundtable’ at DLF Atria, Meta’s Gurugram office today.
Co-powered by Karix and PayU, the event brought together CXOs from Non-Banking Financial Companies (NBFCs) and Micro-Finance Institutions (MFIs) to discuss innovative ways aimed at empowering women from India’s Tier 2 to Tier 6 Bharat through chat-based solutions, that are driven to make micro – financing accessible.
Attended by CXOs of some of the biggest names in the industry like NABFINS, Satin Credit Care, Dvara KGFS, Kamal Fincap and more, it was a powerhouse session of impactful conversations and discussions.
On the opening note Himanshu Sukhwani, Founder & CPO, EdgeCX set the momentum of discussion by saying, “As technologists we are inspired by the vision of Honourable Prime Minister Modi, for Digital India. In this new aspirational India, we want everyone to be included in the nation’s growth story. Technology and aspirations go hand in hand, and we are here to enable both. By creating financial inclusion for women from underserved geographies, we want to be the driver of their engagement and conversation, that will help them drive business. Passing the baton of empowerment in their hands, we want to further the autonomy to dream, grow and succeed till the horizon.”
With WhatsApp’s user-friendly chat platform, EdgeCX has automated over 1.6 crore conversations across the length and breadth of emerging Bharat for MFIs, which is helping financial institutions enable the women from smaller towns and far-fetched geographies of the country. Providing them with access to essential financial assistance, the initiative is integrating the growth of these women with the mainstream economy of the country, which is further amping up their confidence, independence and security.
Presentations and case studies at the event showcased the tangible impact of WhatsApp can have on microfinance institutions. These examples demonstrated how MFIs work with EdgeCX to reach their clients, streamline payments, and provide critical support to women in regions that often have limited access to financial services.
Sharing his appreciation for the event, Anirudha Mirikar, Director at Sampada Entrepreneurship & Livelihoods Foundation said, “Bringing together the MFI industry to introduce them to such innovative offerings is a great step and one that was definitely needed. Over 250 MFIs can greatly benefit from such chat-focused solutions.”
Expressing his views on, EdgeCX and Meta’s collaborative efforts the Chief Guest of the event, Honourable Dr. Rabindra Narayan Behera, Member of Parliament, Odisha added, “Ease of access in the language of choice has made WhatsApp’s connect with ‘Bharat’ indelible. It has and will continue to play the biggest role in not only being the medium of communication but also the medium of financial inclusion of women from India’s underserved areas.”
The event also featured engaging discussions between collaborating institutions on the broader implications of technology-driven financial services. Participants highlighted how WhatsApp-based chat solutions are being adopted by NBFC-MFIs to not only manage transactions but also enhance customer engagement across Bharat.
Responding to the open house, on questions pertaining to data privacy, security and fraudulent activities, Aditi Mathur, Head Payments on WhatsApp India, reaffirmed the audience about many checks and points that have been brought in, including initiatives like the Meta Blue tick, that provides authenticity and peace of mind to a user.
The ‘CXO Roundtable’ concluded with a networking session, where attendees exchanged ideas on future collaborations aimed at expanding financial services to underserved communities. This successful event highlights the critical role of technology in advancing financial inclusion and the continued commitment of EdgeCX, Meta, and their partners to bridge this financial gap for women in Tier 2 to Tier 6 cities across the country.
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