Business Spotlight

FINCOVER Bootstraps 7 Crore For Fintech App Development

In the ever-changing Fintech landscape, Fintech companies constantly flood the market with cutting-edge tools and apps to be a part of this transformative evolution.

FINCOVER bootstraps 7 crore for Fintech App development
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As customers rely more on Fintech firms for financial services companies than banks and other financial solutions, Fintech firms leave no stone unturned to offer innovative solutions. Finfortune Financial Services, a Chennai-based Fintech startup is all set to set new standards in the Fintech arena with the launch of their Fincover app. Built using cutting-edge technologies, and through leveraging artificial intelligence (AI)/Machine learning tools Fincover hopes to create a favorable credit environment.

Gurumoorthy, Co-founder, of Finfortune, says “Our Fincover app promises to be a game-changer in the Fintech space, offering users the convenience of borrowing loans online , insurance, and investments, all in one place. It will be available both for Android and iOS platforms for free. The Digital Financial Marketplace ecosystem is flexible like never before. There are lots of changes happening on a day-to-day basis. There’s an inevitable need to constantly update/upgrade existing services or launch/repackage products in tune with the current market trends. That said, Our Fincover app will prioritize on providing a world-class consumer experience. In addition to having the regular features in a fintech app, we are extensively using AI and Machine Learning technologies to design products suiting our customer’s evolving needs”

Naresh Rajaram, Co-Founder of Finfortune, expanded on the usage of AI and MI technologies “The benefits of using such disruptive technologies are many, faster KYC verification, proper matching of products suited to the customer’s profile, risk management, fraud detection, and many more”.

The idea for the Fincover app stemmed due to the increased use of digital financial services . Gone are the days when individuals had to navigate multiple platforms and service providers to take care of their financial needs. Fincover offers an all-in-one financial marketplace where customers can avail loans, invest money, or even purchase insurance policies.

  1. Loans

One of the Fincover app's standout features is its ability to connect users with a wide range of loan options. Whether you're looking for a personal loan to fund a home renovation or a business loan to kickstart your entrepreneurial dreams, you can easily find one using the Fincover app. Fincover has partnered with leading banks and NBFCs in India to dispense various kinds of loans. Due to the streamlined process, the qualified applicants would receive instant approvals

  1. Insurance

Our commitment to ensure your financial excellence includes the world of Insurance. Insurance plays a crucial role in financial security. The Fincover app enables customers to seamlessly purchase/renew insurance easily in a few steps. Whether its life insurance or non-life insurance like health insurance, life insurance, or motor insurance, you can find it all in one place. Their advanced algorithms also provide personal recommendations.

  1. Investment options

Investments are crucial to build long-term wealth. The Fincover app offers a suite of investment options that cater both to beginner and experienced investors. Our algorithms display plans taking into account risk tolerance and financial goals. : Users can invest in a variety of asset classes, including mutual funds, stocks, bonds, gold, and more.

  1. Credit Score

Keep tabs on your credit health with Fincover credit score monitoring. Receive regular updates and insights into how your financial decisions impact your creditworthiness

Manjunath Thimman, Director of Operations, said “One important thing we are focusing on during app development is that we do not want this app to just serve as an online marketplace, we need it to serve as a knowledge hub for the uninitiated. Only 27% of the Indian public is financially literate. It’s important to acquire the necessary financial knowledge to lead a financially stable and sound life. Our app would contain a section that would serve as an educational hub for various financial products. The training modules will be simple and self-explanatory. We would also provide tailored advice to help users make informed financial decisions.”

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Security remains a grey area and a cause of concern in various fintech apps. Most people are skeptical about such apps because of security issues. Naresh says, “We understand security is a very important factor that’s why we have given them utmost priority. The Fincover app would have robust encryption protocols to safeguard user information and stringent multi-factor authentication measures to prevent unauthorized access. Furthermore, users have full control over their data and can opt in or opt out of data sharing with third parties.

As we stand on the cusp of a new era in finance, the Fincover app emerges as a beacon of hope for individuals hoping to create a better financial tomorrow. With technology continuing to reshape the way we manage our finances, new developments and upgrades.

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