Page 16 - BANKING FINANCE November 2018

UN U

n en i e ro ra e or one a a er
a Ma e o ar ner
o ern ent is lanning to gi e re ards to honest ta a ers and ut in lace an
ank C o ro i e
incenti e rogra e to re ard and recognise honest ta
re i a ers to encourage a culture o co liance co it
tee has een set u under Central oard o Direct a es
a Mate a usiness to usiness digi
tal a ent so C D to dra u the sche e a to o icial told
lutions ro ider he go ern ent has launched se eral easures to root
is looking to le out lack one including stringent legislation co rehensi e a end ents
erage itsel as to the ena i la and a ajor crackdo n againstta e aders under eration
a credit lat Clean Mone ith a nu er o deterrents ha ing een ut in lace the go
or or s all ern ent eels there is a need to re ard honest citi ens as ore eo le are
and ediu en iling inco e ta returns
ter rises SM
he co ittee ill look at re ard rogra es instituted in arious countries
and hel i ro e the lo o credit
and dra ro the est ractices said the o icial he selection o eo le a
he co an is orking ith non not e ased on the a ount o ta aid ut on criteria such as regularit in
anking inancial co anies and iling o returns not eing enalised or rosecuted and not ha ing een su
anks to le erage the or er s lat jected to searches or sur e s he inco e ta de art ent earlier had a sche e
or and ro ide orking ca ital called Sa an that re arded ta a ers ut it as discontinued a ter
re uire ents to these enter rises
a Mate runs a ro rietar Mo ikwik a uire online weal ana e en la
cloud ased a ents lat or and
or lear un
hel s large enter rises and SM s
Mo ik ik has entered the ealth anage ent usiness ith the ac uisition o
transition to digital a ents and
online ealth anage ent lat or Clear unds
anages endor and custo er a
ents and in oicing his is the irst ac uisition e er Mo i ik and
ill hel the rand to urther strengthen its oot
t as recentl chosen isa to ro
hold in the digital inancial ser ices industr the
ide a a ent lat or or joint
co an said in a state ent
custo ers Market sources eg the
a ent ja diseshann C esides Mo i ik ill e in esting illion in
a Mate rocessing arket or the the ne t one ear to scale u its ealth anage ent usiness Mo i ik s
co ercial consu tion e endi crore custo ers ill soon e a le to start sa ing in utual unds sea lessl ro
ture arket in ndia at trillion their Mo i ik a ith just a e clicks

ccording to ja diseshann C and asana aku Co ounder and Director Mo i ik said his ac uisition ill
ounder the ir has een a le to col hel us get a headstart in the ealth anage ent do ain Clear unds has done
late data on credit re uire ents and ell in a short s an o ti e and has an edge o er its co etitors o ing to its
credit orthiness o an s all enter technolog kno ho and ad anced data anal tics Mo i ik users ill no e
rises hich it had een tr ing to get a le to start their in esting journe ith as little as Rs
on to its lat or he recent ac uisi his is the irst e er ac uisition Mo i ik as e look to uild our ull stack
tion o eer to eer online lending lat intech lat or and deli er ore inancial roducts to our custo ers e ill
or echnologies or an undis continue to look at strategic in est ents or ac uisitions that can add alue to
closed a ount is another ste to ards our usiness ter the ac uisition the ounder and C o Mu ai ased
this direction e are in talks ith
Clear unds unal ajaj ill lead Mo i ik s ealth anage ent usiness
Cs and anks to ro ide credit to
ounded in Clear unds is a direct utual und in est ent lat or that
SM s Credit ill e e tended through
uses o er ul data anal tics and auto ated rocesses to deli er the est os
our lat or rather than us eing the
si le in est ent e erience at the lo est ossi le cost ts S art ort olios
lender a Mate ill earn ia transac
eature is a ull auto ated in est ent ad isor ser ice designed to ake in
tion ees he told
esting eas or e er one
1 | 2018 | NOVEMBER | B N N N N E