Business News | Muthoot FinCorp ONE Scales to 2 Million Users, Transforms into a Financial Marketplace
Get latest articles and stories on Business at LatestLY. Muthoot FinCorp Ltd. (Muthoot Blue) has announced its evolution into a full-scale financial services marketplace, integrating loans, investments, savings, payments, and insurance with its digital platform, Muthoot FinCorp ONE.
New Delhi [India], January 20 (ANI): Muthoot FinCorp Ltd. (Muthoot Blue) has announced its evolution into a full-scale financial services marketplace, integrating loans, investments, savings, payments, and insurance with its digital platform, Muthoot FinCorp ONE.
According to the company, this move marks a significant digital expansion for the Muthoot Pappachan Group (MPG), a 138-year-old financial services group, aimed at deepening financial inclusion and offering consumers a unified experience across financial services products.
The company says that the Muthoot FinCorp ONE platform operates on a phygital model, combining Muthoot FinCorp's physical reach of over 3750+ branches across 19,000 pin codes with the digital convenience of an all-in-one financial platform. It currently has over 2 million monthly active users, enabling customers to access multiple services including loans, investments, insurance, and payments all within one app.
"Consumers no longer want fragmented financial journeys. A loan from one provider, insurance from another, payments through a third, it's cumbersome," said Chandan Khaitan, CEO, Muthoot FinCorp ONE. "That's why we have built Muthoot FinCorp ONE, a single platform, that brings together loans, investments, insurance, and payments, in partnership with leading banks and NBFCs, to serve every financial need in one trusted ecosystem."
He further added, "Our focus is on deepening engagement and strengthening partnerships to deliver a more integrated experience across our app and branch touchpoints."
According to the company, today India's access to formal finance continues to lag despite rapid economic growth. Nearly 500 million adults remain outside the formal credit system, often turning to unregulated sources. With 45% of Muthoot FinCorp's customers being new-to-credit, the company is positioning its phygital marketplace as a bridge between aspiration and accessibility, designed to bring regulated, affordable financial solutions to the underserved.
The company says that Muthoot FinCorp ONE's financial marketplace platform is built on in-house products and partnerships with leading financial institutions such as SBI Cards, Bajaj Finance, Axis Bank, IDFC Bank, Tata Capital and more, expanding both product variety and customer reach.
The Muthoot FinCorp ONE marketplace will continue to expand its suite of offerings through both in-house products and partnerships with leading banks, NBFCs, and fintechs.
According to company information, Muthoot FinCorp ONE is an all-in-one comprehensive financial app from Muthoot FinCorp Ltd. (MFL), revolutionizing the way people manage their finances online. Across lending, investing, saving, or making payments, the platform makes it seamless and convenient for its customers to access the right products and services required through various life stages. Thereby building a holistic financial ecosystem using the latest digital products. (ANI)
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