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We are all aware of how India’s Unified Payments Interface (UPI) has revolutionized digital payments, which is now accountable for nearly 85% of all digital transactions. Yet, millions of Indians especially in rural and semi-urban areas struggle with banking terminology, UPI safety, and government schemes. Every week we read stories of people losing money because they shared their OTP, entered their PIN wrongly, or clicked a fake "cashback link". Financial information is often in English or complex Hindi, making it hard for regional language speakers, farmers, and small business owners to access clear guidance.
Existing support from banking apps, websites, or government campaigns is either too technical, static, or one-way, leaving users with little room to ask questions. Search engines often return long articles, news reports, or misleading answers, making digital literacy even more challenging. This isn't an individual issue it’s a societal issue for us as a country.
FinMitra solves this gap. It is a WhatsApp based, voice-enabled chatbot that communicates in regional languages, designed to be simple yet interactive. Semi-literate users or elders can ask questions verbally and receive easy-to-understand answers using Native languages to ensure clarity and comprehension.
Key Features:
- Safe UPI usage: PIN protection, scam alerts, refund guidance.
- Basic banking: Savings accounts, ATM/debit cards, interest, loans, insurance.
- Government schemes: Clear, actionable guidance on subsidies and benefits.
- Weekly scam alerts: Timely warnings on emerging frauds.
Technical Feasibility:
- Built on WhatsApp Business API integrated with regional NLP.
- Works on low-bandwidth networks (2G/3G).
- Interactive voice and text interface for clarity and accessibility.
Adopting Strategies like Partnering with local banks and NGOs, Promotions via community leaders and Verified credentials enable in gaining trust from users.
FinMitra empowers everyday users to transact safely, understand banking basics, and navigate government schemes confidently, bridging the digital divide and fostering financial inclusion and literacy across India.
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