Empower your financial life with Bank Sathi
Banksathi is an AI-enabled financial technology concept to empowering consumers to save money and time on financial products through the safe, easy and curated shopping experience. We match the right customer from the right financial institution to the right product.
Empower Your Financial Life
Let's match the right customer from the right financial institution for the right product.
Different customers have different needs for financial & insurance products in a diverse country like India, which creates a huge range of niche segments to be catered to. This has led to a variety of financial institutions targeting different customer segments, making it difficult for a single financial institution to serve a huge customer base. Again, this has led customers to chaos, it is very difficult for a customer to find a perfect product/services as needed. This is where Banksathi comes into the picture, we are unbiased customer advisors, we help customers make financial choices that are quick, perfect & transparent. We bring speed to financial distribution with the use of technology, and with our physical presence, we build trust among our customers.
We match the right customer from the right financial institution to the right product, we are different in executing the whole idea, not only curating financial products but also physically reaching out to the customer to help him in the entire process of choosing a product to buy and after-sales services.
"We will be entering the market both through virtual & physical platforms" Banksathi
- Insurance sector: In 2017, insurance penetration in India reached 3.69% from 2.71% in 2001. Gross premiums written in India in FY19 reached Rs 5,78,000 crore ($82.8 billion), with life insurance, Rs 4,08,000 crore ($58.5 billion), and non-life insurance, Rs 1,69,000 crore ($24.3 billion). Enabling policy reforms, increasing technology adoption, positive changes in demographics, and education have all contributed to this growth. The Indian insurance industry is expected to continue to grow at a strong clip in the future, reaching a market size of Rs 19,56,920 crore by FY2020 ($280 billion).
Credit card market size: At the same time, with the addition of 0.89 million cards, a total of 46.1 million credit cards were in operation. India added some 9.13 million credit cards and 89.11 million debit cards between February 2018 A and February 2019. Compared to India, the United States has about 1.5 billion active credit cards, which accounts for 67% of the total number of cards operating in the United States.
Right now, we are in the pre-launching revenue phase, we will launch our product on Jan 21, we will launch onboard with 1000 advisors capable of selling 30 products using the Android App, we will target FY 21-22 with, 10 K Advisors, 250 Crores Loans, 10000 Credit Cards, 10 Crore Insurance Premiums.
Banksathi is a brand that is part of a business called Banksathi Technologies Pvt. Ltd, ltd.
Banksathi is a solution for financial technology with the simple mission of helping individuals make better financial decisions. It offers its unique matchmaking algorithm by analyzing eligibility and availability, i.e., to help people find the right financial products. Loans, Insurance & Credit Cards. To help everyone understand financial products in India, we provide free, fast, and easy to use tools. In addition to our algorithm, we provide practical financial tips through articles, videos, and guides to increase the penetration of economic products. To increase the awareness and penetration of financial products in India, we work closely with financial institutions and regulatory bodies. The current financial distribution system creates challenges in ensuring effective connection and service for customers
Customers want a "supporting hand" to trust the various financial products available and to understand their financial requirements to decide the correct fitment of the product according to their needs.
- Limited Resources with Financial Institutions to reach Customers
- Unorganized Distribution Channel/Direct Sales Ages (DSA) Model
- Lack of Trust of Customers on Online offerings/Interactions
- Awareness of Relevant Information among Customers is lacking
- Inappropriate Customer Connect & Relationship building mechanism
- Brining most effective Quality Delivery & Customer Engagement Mechanism for Existing Banking system
- We are working as Extended hands for the current Banking System and provide a necessary on-ground workforce to ensure quality, efficient, more convincing delivery of financial products to end customers
- Bringing ‘most economical vehicle’ to take Banking products to customers
- Providing effective distribution of Financial Products to the doorstep of customer & enhancing customer confidence & experience
- Ensuring effective end-to-end engagement & servicing with customers
- Assisting in curating more Qualitative leads for various banking products
- Acting as On-ground Financial Advisor to Customers
- Consolidating distribution efficiency for all financial products over a single platform
About Founders and Co-Founders
Jitendra Dhaka the CEO & Co-founder of banksathi, who have 10 years of experience in bringing masses digitally and previously he was the founder of crazzle plus and a Publisher with Google ad sense, times internet, Indian express, media.net.
Himanshu Pujari the COO& the Co-Founder of banksathi who is experienced in sales and services and in the process of handling financial products for the last 10 years previously he was the wealth manager and handling retail liabilities at ICICI Bank and Assistant Branch Manager at HDFC Bank also the HNI at Kotak Mahindra (retail lab) and the Operations head manager at crazzle plus infotech.
Sandeep Choudhary Founder at DLB (Real estate business) 10 years of experience in marketing and brand building, Previously a Concept creator, marketer & producer Bollywood movie ye hai India
The Team Strength
- The vast experience in generating leads through digital modes & converting them into sales.
- The vast experience in the retail distribution of banking & financial products.
- The vast experience of creating Sales Teams in the market & generating business through them.