One of the start-ups Pant is watching closely is Finlok, founded by Tanuj Sinha and Atish Potdar. Finlok is an attempt to digitise one of the most informal financial services – chit funds or group savings. The Finlok app coaxes prospective clients to enrol with a saving group. It uses the BHIM-UPI payment mode, through which members can deposit their monthly contribution. The group’s aggregate collection is then given to a chosen member, working like a credit. The app will charge an operation fee as done even in the informal cash set-up. The target is to create a credit profile for the participants, who otherwise remain in the informal, unaccounted system.