Studies show that one is able to save much better in a group. Typically these saving’s groups are informal and cash-based. Finlok intends to digitise group savings and create financial profiles for its users in the process.
Trust as a building block
Finlok users form their savings groups with people they trust. Being digital the operations related to group management are automated. Technology further makes location independent
UPI enabled payments
Being UPI enabled ensures that sensitive banking details of users is never compromised. UPI further ensures that payments are instant and adequate transaction history is maintained for each user and the overall group.