Meet the Entrepreneur Vishal Gupta and the story about his fintech herb - Teknospire
Every morning the newsfeed serves us the POC of new technology, and how it would disrupt the industries across the globe. However, the irony is that it’s the entrepreneur who takes the pain to solve a problem, but the credit is taken away by the technology! Among such entrepreneur is Vishal Gupta, who chose to build the financial inclusion ecosystem, banking available in the last mile / rural areas globally.
Vishal Gupta, the founder, and CEO of Teknospire an Indian Fintech firm that offers Fintech solution to help Banks in rural/remote areas. Vishal, a challenger in life, was surprised to know the fact that almost 50% of Indian population is still unbanked. They are always at the mercy of intermediaries and lack transparency. Numerous schemes and grants released under government policies and international aid never reach to the beneficiary. In case of financial crunch situation, they must take debt at very high-interest rates, putting them under obligation for the lifetime.
Vishal thought about it, brainstormed with his business partners, mentors and came up with an idea to have a banking solution with features like mobile compatibility and offline data access. The solution should be lightweight, easy to use and should be compatible with any handset.
Finally, Teknospire was born with the idea planted firmly in the ground to enable banking as the fundamental right to all Indian citizens.
As the technical team geared to build the banking solution, in parallel Vishal started looking for business partners. They did a market survey and found that most of the cooperative banks, regional rural banks, small finance banks and public-sector banks serve in the rural areas. They have the Agents or collection officer who travels to these remote locations and provides people with services like – withdrawals, deposits, bill payments, credit and loan services. So, Vishal spoke to some of these entities about the benefits the Teknospire Fintech solution could bring to facilitate transparent and smooth banking services. The agents could feed the data in the field and once bank to bank they would just need to sync the data. The customers could get instant balance check and loan dispersal with digitization. It also offers convenience and banking available at any time.
It also helps the bank to expand their services and increase the customer base without investing a lot to set up a new branch. It could also help local people in business to amplify their customer base to nearby villages.
Surprisingly the unbanked problem is not restricted to India but as per the data collected two billion people in the world are unbanked. With Teknospire mission to enable banking for every individual, Vishal and his team have expanded their reach to other countries like Mozambique, Zambia, Nepal, Bangladesh and Zimbabwe. Our partner NDASENDA from Zimbabwe mentioned in the testimonial- they liked the solution to be web-based and updates in the real-time, no technical glitch and saves a lot of time. For the complete video, please click here.
Teknospire is on a mission to - Build and deliver the right technology, and keep it rolling with partner banks for the masses is the mission and purpose. Our offerings vary from the FinX-Payment and Agency Banking Suite, FinX- Mobile Money Suite, Data Analytics, FinX-Payment Switch.
Teknospire has made an impact with quick adoption of the flagship banking platform "FinX" across four countries and had completed "2000000+" million transactions towards digitization.
Kudos to Vishal and his team for the tremendous effort towards a noble cause! Here is the thankful speech by Vishal on the launch of makash @Manappuram. To know more about Teknospire and our products, please click here.
Agency & Payments Banking Suite
Enables any Bank or Financial Institution to cost effectively extend its branch network through the use of appointed and authorized banking agents. Read More
Mobile Money Suite
Connects financial, non-finacial institutions (service providers) and end-users by turning any mobile phone into a digital account, allowing the institutions to target both banked and unbanked population. Read More
Aggregates all value added services like airtime, eletricity, water, data, insurance, taxes, school fees etc and a lot more. It connects into all central payment channels viz. Credit/Debit Cards, Wallets & Banks. Read More
Who We Are
Teknospire, is a technology company focussed on Fin-Tech platforms with active presence in emerging markets. As the name of the company suggests that every thing we create is inspired by Technological innovation.
Payments Solutions, Agency Banking / Payment Banks platform, Loan Disbursement / MicroFinance platform, Digital Wallet System, Fintech Application developer, Content developement for Fintech companies.