Lens leverages an account aggregation framework that helps users share data across financial institutions in a secure and efficient manner. Mobikwik Lens uses advanced technology and data science to model, digest and process complex financial data. Earlier, this was a tedious manual process involving countless spreadsheets and now it is available at one’s fingertips.
Enthusiastic about the potential of MobiKwik Lens, Bipin Preet Singh, Co-Founder and CEO, MobiKwik said, “Lens addresses the fundamentals of financial wellness, i.e. awareness and control over one’s money. Our research has shown that individuals find it difficult to monitor their financial inflows, outflows and transactions at a micro level. Lens empowers informed decision-making, allowing users to make proactive choices about their finances.” Said that.
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Provides a suite of features including but not limited to smart classification of incoming and outgoing payments, bank account balance trends, expenses, investments and repayments. Users can easily download their bank statements and this lens feature helps them better understand their upcoming bills and recurring payments and expenses to optimize their monthly spending.
The product has an interesting feature called ‘Highlights’. It grabs the user’s attention at the right time. E.g. If the user is expecting a refund from the apparel retailer, MobiKwik Lens will highlight that the refund has been credited to the account. Similarly, any unusual files like overdraft charges are highlighted immediately. It tells how expenses are increasing or decreasing over the course of the week, month and year.
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“With a commitment to innovation, we have further upgraded the new feature lens to not only gain financial awareness across multiple bank accounts but also get a 360-degree view of their money across investments, insurance and pension funds,” explained Bipin.
MobiKwik, recently, became the first fintech in the country to post PAT positive in Q1 of FY23-24, registering a growth of 181%.
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Introduction to MobiKwik
MobiKwik is a digital banking platform that offers a comprehensive suite of financial products to consumers and merchants. Our products range from payments to digital credit and investments, enabling our users to meet their financial needs with ease. Our mission is to empower millions of people with access to affordable and convenient financial services, regardless of location or income level.
MobiKwik has grown to serve over 140 million registered users across India. With a merchant network of over 4 million, MobiKwik is one of the most trusted and widely used digital banking platforms in India.