Finlok Platform

Finlok is envisaged as a platform that offers a wide range of financial products and services to its users. As a first the platform is offering users the service to save money with trusted friends and family by digitising the centuries old concept of savings groups that are used by communities across the world leveraging the India Stack. We envisage a world where Finlok users are able to leverage their social networks and financial technology to save, borrow, invest and secure their future.

As a user imagine yourself saving up enough so that you can plan for a family holiday, surprising the spouse with gifts, creating corpus for business expansion, putting a downpayment for a large expense etc. and not having to ask any favours. All of this is possible by developing a saving discipline through Finlok. Finlok allows you to leverage your social circle, reduce risk of default and sour relationships, convenient and hassle-free money transfer using UPI technology all this with the added benefit of creating a financial rating based on your payment behaviour.

The Finlok application allows users:

  • Register on the Finlok platform providing Aadhar number to develop trust within the Finlok community (
    • To create savings groups by assigning an amount, payment cycle and the number of members for the group (
    • Once the group is created; the user can invite their friends and family through the application; each invitee would be sent a SMS invite to download the application
    • As invitees register and join the group the group starts to form – to keep it exciting notification about each new joinee is flashed to the group members (
    • Once the required members have joined the group becomes active
    • Finlok selects the allottee that needs to receive the cycle’s funds and sends notifications, reminders to pay etc to all group members
    • The payment is powered by  UPI technology provided by our banking partner Yes Bank . Once the payment cycle is activated each member of the group pays to the allottees bank account through UPI which is secured and fast(currently works across 51 bank accounts with new being added each month); Yes Bank being the partner for the same.
    • As each cycle completes users would be rated based on key data including payment cycle in time creating a Finlok rating which would be used to enable a host of products in the coming months.

Users today are well versed with smartphones and the power of social networks; it’s now time that you use it to empower yourself and friends further.

Key features

Enabling group savings with people you trust

  • Hassle free and convenient
  • Automated reminders and notifications
  • Location independent

Managed group dynamics

  • Aadhaar verified users
  • User behaviour determines position in group
  • Bank linkage providing transaction history

Secured and safe payments enabled by UPI

  • Instant and cashless payments
  • No sensitive banking data exposed