Finkeda, a digital banking and financial services platform founded in 2019, is addressing banking accessibility challenges in underserved regions through Aadhaar-enabled Payment System (AePS) and Micro ATM services. By partnering with local merchants, Finkeda brings essential banking services like cash withdrawals, deposits, and balance inquiries closer to people in remote and semi-urban areas.
In India, accessing basic banking services remains a hurdle for many, with limited bank branches and ATMs, especially in rural regions. The challenges are compounded by recent bank mergers, reduced branch networks, and high operational costs associated with traditional ATMs. Additionally, cultural barriers and limited banking knowledge deter many individuals from visiting branches.
Finkeda’s innovative model transforms local shops into financial hubs, delivering secure, efficient, and cost-effective services. The platform also offers utility bill payments, money transfers, loan EMI collections, and more, making it a one-stop solution for financial needs.
“Financial inclusion is about empowering communities to participate in the economy,” said Mr. Manish Kumar Goyal, Chairman and Managing Director of Finkeda. “Our AePS and Micro ATM services simplify access to banking and align with the vision of Digital India 2.0.”
With plans to expand its reach, Finkeda aims to bridge the urban-rural financial divide, fostering financial independence and inclusion across India. The initiative boosts the economic role of merchants while creating a digitally inclusive future.