Muthoot Launched MuthootFinCorp ONE – All-In-One Financial Platform
This one-stop digital platform for lending, investments, protection and payments, is a transformative step from MuthootFinCorp Ltd.
August 24, 2023: Muthoot Fincorp Ltd. (MFL), the flagship company of MuthootPappachan Group (Muthoot Blue), launches MuthootFinCorp ONE, a digital platform, to provide lending, investments, protection, and payments at the tap of an app.
With this launch, MuthootFinCorp ONE aims to address the diverse financial needs of consumers pan-India while seamlessly providing a comprehensive suite of financial services, ensuring unmatched convenience and accessibility.
MuthootFinCorp ONE offers an array of financial services which includes MSME and Gold Loans (from home or atMuthootFinCorp Ltd. branches). Furthermore, Muthoot Fincorp ONE offersinvestment products like Digital Gold and NCDs. The app also supports utility and loan payments for multiple use cases while the Forex services encompass multi-currency cards, cash transactions, and 24×7 international transfers.Soon, the platform will also help users in accessing insurance for all kinds of General and Medical insurance needs.
ChandanKhaitan, CEO MuthootFinCorp ONE says, “We are excited to introduce MuthootFinCorp ONE, an all-in-one financial platform that brings together a comprehensive suite of financial services right from lending to investments to insurance to payments and remittances. We aim to cater to more than 1 million customers by the end of this financial year”.
He further stated, “MuthootFinCorp ONE optimizeson a phygitalmodel which seamlessly combines this app with more than 3600+ physical branches of MuthootFinCorp.Our customer-first platform connects seamlessly with all stakeholders (customers and partners alike). The platform is basedon robustdata analytics and leverages data science, usingadvanced models for Artificial Intelligence& Machine Learning, always ensuring cyber resilience.”
Mr. Thomas John Muthoot, Chairman & Managing Director, MuthootFinCorp Ltd. said, “MuthootFinCorp ONE’s launchsignifies a major milestone for us.Itcomplementsand builds upon MFL’s existing robust physical presence, through a phygital ecosystem. The all-in-one financial platform reinforcesour dedication to transforming the way our customers access and manage their financesby providing them with tailored financial solutionsto suit their everyday needs.”
Since its launch, MuthootFinCorp ONE has already gained significant traction with ouractive customers, with more than 20,000daily transactions, and 2 Lakhplus app downloads, earning an average app rating of 4.8.
In the next six months, MuthootFinCorp ONE plans to expand the platform’s offerings by introducing insurance, personal loans, two-wheeler, and housing loans and more with a focus on achieving 80,000+ daily transactions, and 10 Lakh app downloads.
The company’s goal is to democratize access to financial services, empowering individuals, and businesses across diverse segments, fostering economic growth.
Looking ahead, Muthoot Fincorp Ltd. remains committed to further enhancing the platform, introducing new products, and forging strategic partnerships to expand its financial ecosystem.
With a strong focus on customer-centricity and continuous innovation, MuthootFinCorp ONE stands poised to become the preferred choice for all financial needs, and thereby ensuring MuthootFinCorp Ltd. continues its position as an industry leader in the financial landscape.
