Super Apps Way Forward for India Shadow Banks: Shriram
- Shriram City CEO says super app will be ready in 18-20 months
- Shadow lenders face tough competition from fintech firms
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Indian shadow lender Shriram City Union Finance Ltd. is building a so-called super app to offer various financial products on a single digital platform, joining other major non-bank finance companies in taking on growing competition from fintech firms.
“We already are in the process of building a super app,” Y.S. Chakravarti, chief executive officer of the company, said in an interview Monday on Bloomberg Television. “In 18-20 months from now, the super app should be ready, offering every financial product that a customer needs.”