TradeSun, a technology company leveraging artificial intelligence for trade compliance and automation, and Coriolis Technologies, a leading trade data and analytics provider, have partnered to launch an integrated solution for banks to measure and verify environmental, social and governance (ESG) performance across trade transactions.

With regulators applying pressure on companies to disclose more detail on ESG performance, quantitative ways of analyzing the impact of trade finance activities are vital in achieving regional and international sustainability targets. 

The combined solution enables TradeSun customers to leverage Coriolis’ ESG Tracker, an independent ratings-based platform developed with more than 50 financial institutions, to score, monitor, and verify their trade finance transactions and activities against the 17 Sustainable Development Goals (SDGs), as defined by the United Nations. 

Banks can also view ratings against domestic and international regulatory frameworks such as EU Taxonomy, Sustainable Finance Disclosures Regulation, and US Sustainability Accounting Standards Board Regulations. Additionally, financial institutions can search and explore company ratings for governance purposes, including completing a personnel check.

Customers of TradeSun will be able to use Coriolis’ ESG Tracker in tandem with other integrated data partners, enabling further insights, and flexibility, and aiding financial institutions in offering financial incentives to their clients upon meeting specific ESG criteria.

Nigel Hook, TradeSun CEO, said: “Data analysis and better visibility across trade are core to meeting the UN’s SDGs. We are pleased to be working with Rebecca and her team to support more sustainable trade through thoughtful interpretation of data. Regulators are warning that increasing transparency of ESG risks must be a priority for companies – and the only way to achieve that is more quantitative ways of measuring risks across the global financial system.” 

Rebecca Harding, CEO of Coriolis Technologies, said: “TradeSun’s innovative approach to the digitalization of trade matches perfectly with Coriolis Technologies’ ambition to make the complex nature of trade accessible to all, expanding economic prosperity for companies, countries, and their people. TradeSun’s use of artificial intelligence solutions as a mechanism to empower customers aligns with our approach of using cloud-based data aggregation to advance global trade processes. Collaboration is key to successful and applicable sustainability assessments, which is why we are incredibly excited to partner with TradeSun.”

Sage, the leader in accounting, financial, HR, and payroll technology for small and mid-sized businesses, is now an approved provider on HMRC’s official list of software compatible with Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA).  

MTD for ITSA will apply to unincorporated sole traders and landlords from April 2024, if their annual business or property income exceeds £10,000 in a tax year. 

To be compliant, businesses and property owners will need to make records digital using MTD for ITSA-compatible software that allows them to:    

1.       Capture digital records 

2.       Categorise transactions 

3.       File periodic updates with HMRC (which must be submitted at least quarterly)  

4.       Submit an End Period Statement (EOPS) 

5.       Submit a Final Declaration tax return  

Sage customers will be able to easily meet all five elements and ensure they comply with the HMRC regulations through a new easy-to-use Taxes dashboard.  

Built to enable accountants and small businesses to successfully navigate the significant challenges posed by the new compliance requirements of MTD for ITSA, the Taxes dashboard will allow users to easily review and submit their quarterly updates, as well as their End Period Statements. It will also provide visual indicators to show if submissions are overdue and need attention.     

Another key benefit of the Taxes dashboard is that it will allow businesses to better predict and plan what income tax they owe by providing real-time estimates throughout the year.  

With these features, accountants will be able to increase efficiency, get ahead and expertly plan on how to best support their clients to adapt to the new legislation    

“MTD for ITSA will be a significant challenge for many sole traders and landlords who might struggle to comply with the significant changes imposed by MTD for ITSA. Their bookkeepers and accountants will be playing a critical role in helping them stay compliant, fulfil these reporting stages and adapt to the changes in legislation quickly and efficiently,” said Neal Watkins, EVP Product, Sage.     

“Developed with accountants and small businesses in mind, our Taxes dashboard will ensure that compliance is a painless process. It will also enable sole traders and accountants to save time and resources, and gain better visibility of their future liabilities resulting in more accurate cashflow forecasts to proactively manage the health of their businesses”   

To fulfil the digital record-keeping element of MTD for ITSA, transactions will be accurately and efficiently categorised and saved to the ledger.   

Transactions can be added and captured in any format: manually, imported from a bank feed or a CSV file. Also, data can be reviewed and downloaded to CSV if required.   

Once submitted, the information can be reviewed and resubmitted at any time if necessary. This enables customers to easily correct errors and improves data accuracy i.e. for categorisation, splitting across multi categories, allocating as ‘allowable’ or ‘disallowable’ for appropriate tax treatments, etc.    

The dashboard also provides users with a helpful estimate of their income tax liability and alerts them to anything that may require action in a ‘Tax calculation messages’ box.     

The application will be available both in browser and on mobile, providing access to data anywhere, anytime, on any device.  

“Sage has a long history of guiding businesses and supporting accountants through legislative change. Having the ability to fulfil all the steps required by MTD for ITSA with one, simple and intuitive solution is a massive competitive advantage. We’re continuously striving to save time, reduce risks and streamline our operations which Sage is fulfilling with their MTD solution,” said Sam Mitcham, owner of SJCM Accountancy, the agent who submitted the first ITSA update for Sage. 

 “This, in turn, improves our clients’ understanding of their own business, enlightens them to the broader benefits of being more digital and ultimately improves the accuracy and completeness of the information presented plus the assurance that they’re getting it right, every time.”  

Key benefits of the new Taxes dashboard 

Providing best-in-class capabilities to improve the efficiency and simplicity of tax Sage makes it easier for businesses to get their tax right by enabling them to:  

- Track taxes with a tap - Managing tax and compliance electronically is made much easier via digital record keeping and accounting software. 
-  Keep digital records - Simple and fast data entry and retrieval save business owners significant time and effort. They can avoid duplication with one set of data serving as a ‘single source of truth’ and have the ability to combine and query the information to ultimately make better business decisions.  
- Access accurate data - Minimising errors, as the software helps businesses enter information in the right format at the right time, automating many processes (such as filing tax returns). 
- Work together and share access easily – Small businesses and their accountants can collaborate securely in real-time on any device. 
-Control cash flow - With real-time tax estimates throughout the year, sole traders and landlords can better predict and plan what they owe.  

AstroPay, the payment solution of choice for millions of users globally, today announced the appointment of Fayyaz Ansari as Chief Financial Officer.

Having worked in finance for over 20 years, Fayyaz brings with him a deep understanding of the global payments industry. Prior to joining AstroPay, he was working at Skrill, NETELLER & Income Access (part of Paysafe Group Plc) as CFO of their digital wallet division and board member of their regulated entities. He will be based in the UK with responsibility for overseeing all aspects of AstroPay’s global financial management and activities.

Fayyaz’s extensive leadership experience includes controllership, treasury, financial planning and analysis, tax restructuring, corporate finance, performance management, M&A and strategic planning. He also managed other aspects of the finance function which includes banking, investments, and financial systems and was involved in fundraising as well as coordinating efforts for an exit via a trade sale/ IPO. Fayyaz started his career as an auditor and prior to joining Skrill, he worked for PricewaterhouseCoopers LLP. He is a chartered accountant and holds an MBA from Warwick Business School in the UK.

Mikael Lijtenstein, CEO of AstroPay, commented: “I am delighted to welcome Fayyaz to AstroPay where he will undoubtedly make an immediate impact as we aim to become the world’s leading payments platform. His wealth of experience will be essential in implementing our strategic plans to accelerate growth and position AstroPay for the future. Fayyaz and the team will contribute to our mission of providing financial freedom to millions of people worldwide. He is an excellent addition to the AstroPay team and I look forward to working with him in our journey.”

Fayyaz Ansari, CFO of AstroPay added: “I’m thrilled to have the opportunity to join AstroPay as the next step in my career. I am excited about working with a team that is passionate about the business, has a clear strategy and always puts customers’ needs first. With its commitment to global expansion, a strong business model, a focus on diversity and proud history, AstroPay is well positioned for extraordinary growth and impact. I believe the company’s unique value proposition and a strong foundation will allow the business to grow and execute its vision of making payments much more accessible to customers around the world.”

Beyond.pl, one of the most secure data centres in Europe and a cloud service provider,
has successfully completed the certification of its environmental management system and validated its compliance with the ISO 14001:2015 standard. This means that the company has confirmed its competencies as a sustainable supplier of IT infrastructure services as well as its proactive approach to supporting the maximum reduction of the negative impact
of business on the environment.

ISO 14001 is the most recognized international standard for environmental management systems, aiming to eradicate business practices harmful to the environment. Moreover, it is often used by businesses to verify their vendors in order to build sustainable supply chains. 

The ISO 14001 certification obtained by Beyond.pl confirms that the company’s environmental policy fully conforms to international standards. The audit verified Beyond.pl’s processes in the following areas: energy, water, sewage and waste management,  qualifications and roles and responsibilities of employees responsible for environmental management, the scope of environmental parameter monitoring, and surrounding the identification of non-compliance and implementation of corrective measures. In addition, the audit covered the company’s goals and tasks related to the implementation of its environmental strategy as well as its emergency response plans for its data centre infrastructure.

“The constant transition of a business to an online world,  the rate of growth of digitalization and systematic increase in the demand for cloud and data centre services directly contribute to the negative impact of the ICT industry on the environment. This is why our sector requires greater transparency. Customers and businesses need the right tools to make informed decisions on their impact on the climate. The ISO 14001 certificate formally confirms that Beyond.pl has conformed to the highest standards for many years. Our customers can now be confident that we are a valuable partner to them supporting their sustainable digital transformation projects and are an important asset in their green supply chains” said Wojciech Stramski, CEO of Beyond.pl.

Call to action for the industry 

As a result of continuous digital transformation and the rising demand for technology, the IT industry has an increasingly powerful impact on the environment. In 2019 it generated almost 54 million metric tons of electronic waste, which according to the UN’s Global E-waste Monitor, represents a 21% increase in five years. Electrical power consumption in the ICT sector is also rising. It is estimated that data centres currently consume more than 3% of the world’s energy, and that figure is expected to rise to as much as 8% in the coming years. This is one of the reasons why the rollout of proactive environmental protection practices in the industry is increasingly important. It is estimated that reducing the power of a large data centre by a mere 10% a year has the same result for curtailing carbon emissions as planting 12.000 trees.

Although environmental awareness is rising, and more and more data centre operators seek to lessen their negative impact on the environment, according to the Uptime Institute in 2021 49% of data centres did not measure their water use, and more than 75% did not measure their e-waste. Among the companies which did not measure water use, 63% of operators state the reason is a being that there is no business rationale for such while 23% have no means of monitoring their water consumption.

Green data centres on the map of Central Europe

Beyond.pl is an indisputable leader in the Polish and European data centre and cloud market in terms of sustainability. The company’s data centres have been powered 100% with green energy since 2020, as confirmed by certificates of origin. With a PUE 1.2 Beyond.pl’s Data Center 2 is among the most energy-efficient facilities in the region and simultaneously one of the three most secure data centres in the European Union, as evidenced by the ANSI/TIA-942 Rated 4 certification. The company actively participates in projects that support a sustainable data centre industry. Beyond.pl belongs to industry initiatives supporting green transformation such as the Climate Neutral Data Center Pact,
the European Green Digital Coalition and  VMware’s Zero Carbon Committed programme. In 2022, as the first Polish company from the IT sector, Beyond.pl officially announced its commitment to support the achievement of all 17 UN Sustainable Development Goals.

“We realize that change in how we do business is desperately needed, but the regulatory processes to enforce such change could take years to come through the pipeline and into effect. That is why every business leader should act proactively and ensure that action is taken today to do things the right way, contributing to reversing the negative changes in society caused by economic development and progressing digitalization. Companies from the ICT sector especially should set an example of how to neutralize these changes by introducing technologies which concurrently minimize the negative consequences on the environment. We view sustainability, the respect for natural resources, and the wellbeing of future generations as paramount, and we will continue with our commitment to helping create a better future” said Wojciech Stramski, CEO of Beyond.pl.

Sonovate, the leading provider of embedded finance and payment solutions for the contingent workforce, today announced a new partnership with Demica, the market-leading trade finance fintech, to enhance its reporting processes so it can continue to support thousands of business customers globally.

Under the terms of the partnership, Sonovate will use Demica’s Platform to enable it to lend more efficiently to more customers, ultimately growing Sonovate’s customer base and business.

The partnership between Demica and Sonovate was key to the recently announced securitisation deal worth £165 million with BNP Paribas and M&G Investments. Additionally, Sonovate will integrate Demica’s powerful reporting tools into its own systems, further enhancing its operations, finance, and credit control processes.

Developed over the last 20 years, Demica provides a flexible cloud-based reporting platform to supply chain and trade finance providers, a category of lending businesses traditionally underserved by fintech innovation. The Demica platform is also highly scalable, making it the ideal partner for Sonovate’s ever-evolving requirements.

As technology continues to revolutionise the finance industry, collaborations such as this one give businesses more options when it comes to operational structure management, empowering them to operate in the most efficient and effective way. 

Sonovate co-founder and co-CEO Richard Prime said, "At Sonovate we’re committed to building an ecosystem of integrated fintech services that will revolutionise funding and payments for our business customers and serve their exacting, unique needs. We’re excited about this partnership with Demica, whose solutions boost many of our financial and operational processes, as well as allow us to deliver more flexible funding and increase capacity for export financing.”

Demica Managing Director, Working Capital Solutions Markus Musielak commented on the deal, “We are delighted to be working with Sonovate to complement its skillset and further enhance existing reporting processes. By combining our financial expertise and advanced technology, we are directly supporting Sonovate’s impressive growth trajectory.”  

Buoyed by this demand for technology-driven transformation in financial services as well as the shift toward flexible working, Sonovate has funded more than £2.75 billion in invoices to date. Last year, the company recorded a 58% year-on-year increase in total annual funding. During the same period, its enterprise lending volume increased by 144%, and enterprise customers now account for about one-third of its total lending volume. More than 3,300 businesses funded by Sonovate have paid over 30,000 freelancers, contractors, and gig workers in over 40 countries. 

Sonovate is on track to deliver £1.3bn in funding this year – an increase of 85% on total funding in 2021, a year in which the company almost doubled its previous annual funding record.

Prime concludes: “As Sonovate continues to grow and serve more customers in more industries and geographies than ever, it is hugely important to us to develop and retain as much flexibility in the way we fund and provide technology solutions as possible. Our first securitisation and this partnership with Demica are key examples of that long-term strategy in play. Never has access to flexible, on-demand funding and financial services technology been so hotly demanded by businesses, and we’re excited to be working with Demica to optimise our operations in such a way that enables us to satisfy that demand in the fast-evolving recruitment space.”

Cashflows, the platform that makes it easy for merchants to accept payments, today announces four additions to its C-suite to drive its ambitious growth strategy, foster innovation, and build on its people-first ethos. These hires follow the appointment of Hannah Fitzsimons as CEO, as she continues to make her mark on the leadership team to facilitate Cashflows’ next phase of growth.

Camilla Sunner joins as Chief Commercial Officer with 20 years of experience as a payment, technology, and business services leader. In the fintech space, Camilla was previously on the UK Finance Board of Directors. Prior to that, she held the position of Payments Network Director at Barclaycard, where she focused on leveraging technology and services to deliver sustainable growth. As Chief Commercial Officer, Camilla will help Cashflows to maximise opportunities for further customer and partnership engagements as well as support the continued growth and profitability of the company.

Richard Wilkins joins the Cashflows team as Chief Risk Officer, leading the development of risk frameworks, policies, and procedures, particularly regarding strategic planning and new business. Richard’s 26-year career in risk management is a testament to the pride he takes in his role, where he has consistently delivered results and exceeded targets. Prior to Cashflows, Richard was the Credit, Risk, and Fraud Director at Elavon, overseeing and executing its EU Merchant Risk strategy.

June Ahi joins Cashflows as Chief People Officer. Her ‘People Strategy’ focuses on championing employee wellbeing, attracting top-tier talent, continuing to drive engagement, creating learning environments for growth, and building on Cashflows’ DE&I commitments. With over 13 years of experience in the HR sector, including a prior role Head of People at Bango, and a proven track record in driving employee engagement, June will build on Cashflows’ vibrant culture, and lead on ESG, driving Cashflows’ passion for a sustainable and socially and environmentally conscious approach to business.

Paul Clarke joined the team late last year, as Chief Product and Innovation Officer. Paul has a wealth of experience successfully leading product, business strategy, and innovation functions in the payments, eCommerce, and digital sectors. Prior to Cashflows, Paul held leadership positions at key payment organisations including Network International, Barclaycard, Elavon, and Worldpay. Paul works closely with Cashflows’ project delivery team to lead its product proposition, strategy, go-to-market and delivery functions.

These new hires will work alongside Julian Leigh, Chief Financial Officer, who joined the Cashflows team in 2018. Camilla, June, Richard, and Paul will help spearhead the company’s growth plans, fostering innovation in line with security and regulatory frameworks.

This injection of new talent follows an impressive period of growth for Cashflows, following the launch of innovative products, including its Anytime Settlement solution. The business witnessed a 50% growth in transaction value in FY22, and Cashflows is building on this momentum through these strategic hires.

Hannah Fitzsimons, CEO of Cashflows comments: “Welcoming Camilla, Richard, June, and Paul is an exciting moment for Cashflows. It is of utmost importance for leadership teams to be energetic and pragmatic, with a strong focus on the value of their people, customers and partners. These new hires cement Cashflows’ position as the payments provider of choice for SMEs, committed to delivering the highest quality service and latest technology solutions in line with UK business’ changing needs.

“The payments industry is at an inflexion point, and companies like Cashflows are leading the charge by fostering innovation that gives SMEs access to the payment services they need in today’s competitive market. This leadership team is already demonstrating they have the passion and capability to shape not just the future of Cashflows, but the wider industry.”

With ambitious growth plans, Cashflows will continue to invest in new talent across various teams in the coming months.

Open banking platform Yapily has today launched Yapily Virtual Accounts to bring more transparency to real-time payments.

Yapily Virtual Accounts enables merchants and payment service providers (PSPs) to create multiple accounts to collect local payments, initiate instant payouts and refunds, and streamline reconciliation - all through a single API. 

Yapily’s new product is unique in that it meets the needs of both the merchants using the product directly and the PSPs enabling this solution for their merchant customers. Findexiq, a disruptive payments platform, will be Yapily’s first customer to integrate the new product. 

Greater visibility of overpayment status, more control over the distribution and flow of funds, and reduced costs when it comes to accepting and transferring cross-border payments are just a few of the benefits Findexiq are set to realise through Yapily Virtual Accounts. As a result, its merchant customers will be able to focus more resources on expanding globally whilst saving both time and money.

Managing payments when doing business internationally presents a huge challenge for merchants. Too often, the end-customer is charged with an international payment fee and receives non-competitive rates when paying an invoice in a different currency from their own. What’s more, lengthy settlement times are leaving merchants waiting for their money and the end-customer waiting for the delivery of their goods and services. 

With Yapily Virtual Accounts, merchants in the UK and Europe can accept domestic payments in GBP and EUR instantly, improving the customer experience whilst avoiding high international payment collection fees. This is just one Yapily Virtual Accounts use case of many, including the ability to collect payments from any payment method, split funds to deduct fees prior to settlement and fulfil refunds instantly.

Richard Lewis Charles Elliott, Director at Findexiq, commented: “With Yapily Virtual Accounts, lack of control over the payment flow and cumbersome manual processes will be a thing of the past. However, the real draw for us was being able to target new customers without the headache of opening up and managing multiple bank accounts - all whilst bypassing high fees associated with international payment collection. Working with Yapily, we are able to meet the evolving needs of merchants and their customers at a time when they need it most.”

Roland Selmer, Chief Product Officer at Yapily, said: “Until now, open banking payments have been primarily focused on payment collection, fueling growth for single payment use cases such as account top-ups. But we know that business payment needs are much broader than that. This launch is yet another example of how we are helping our customers to unlock new use cases and growth opportunities. It’s exciting to be at the forefront of payments innovation that is helping to create an open economy that works for everyone. Today, we move another step closer to achieving that goal.”

The expansion to Yapily’s product suite follows its launch of Variable Recurring Payments earlier this week. It also comes at an exciting time for the company following its agreement to acquire FinAPI in May this year making it the largest account-to-account payment platform in Europe. With almost 2,000 bank integrations across 18 countries today, the fintech scale-up continues to expand to new geographies and deepen its coverage across Europe.

Robocash Group is pleased to announce the appointment of Natalya Ischenko as Chief Executive Officer and Ivan Adamovich as Chief Financial Officer. Sergey Sedov, who founded and led the company to international expansion, remains in the position of Chairman of the Board.

Natalya is a knowledgeable leader with more than 20 years of experience in the financial industry and consulting Big Four companies. Natalya has held senior management positions in banking and advisory for the past 7 years. She was responsible for developing and transforming business operations, digitalisation, improving business performance and implementing sustainable strategies.

Complementing Natalya’s experience, Ivan Adamovich is stepping up as Chief Financial Officer. Ivan joined Robocash Group in 2019 being responsible for reporting, controlling and corporate finance. Growing further within the company, he was subsequently promoted to Deputy CFO in 2022. Appointed as Chief Financial Officer, Ivan will focus on the operational, corporate and strategic financial development of the Group.

The new appointments mark the beginning of an exciting new phase of Robocash Group’s development towards expansion and development of the full range of financial products. Natalya's broad banking experience over the course of her career will help redefine the business model and key financials and introduce best practices in operating models and corporate governance.

Reflecting on the new role at Robocash Group, Natalya Ischenko said: “Representing the Robcash Group for our clients, investors, shareholders, partners and colleagues is an honour and a great responsibility. Our mission is to be the leader in each operating market by being ready to assist every customer in any financial need quickly and conveniently. The clients and their impressions of the service are at the heart of the updated strategy that the group will be pleased to present in the 4th quarter of 2022.

Our financial results for the first half of 2022 demonstrate the company's ability to sustain growth and profitability in changing economy. I wish success to our professional and dedicated team, and I pledge to further develop our global business efficiently - a company we can all take pride in.”

On the historic occasion of completing 75 years of Independence this year, India witnesses its first ever ‘RedBlue Revolution’, a brand agnostic initiative that aims to create a distinct identity for rural banking outlets. The outlets are being branded in the colours of red & blue which have traditionally been a choice of the banking and financial services industry as the colour red represents growth & energy whereas blue represents trust & safety. This has helped the banking and financial services fraternity foster their customer relationships by creating harmony with these crucial sentiments through every touch point. Additionally, these outlets are also being referred to as ‘Smart Banking Points’ which will help towards creating a simplified on-ground identity.

Through its extensive on-ground presence, Spice Money, India’s leading rural fintech has witnessed the problem of rural citizens not being able to identify a banking outlet in their local areas, since they never had a distinct identity, be it in terms of the colour or nomenclature. A lot of these outlets are also selling other multiple products, hence, it becomes difficult to identify or spot the specific store in a crowded spot, leading to poor visibility, and hence low footfalls, thereby limiting the access of rural citizens. Spice Money has launched the ‘RedBlue Revolution’ to register these outlets as ‘Smart Banking Points’ in the minds of rural citizens and ensure that rural customers are able to spot a rural banking outlet in their respective regions in a hassle-free manner.

The company intends to reach out to all businesses operating in India’s rural economy providing financial services to come together and join the revolution to make this a country-wide phenomenon.

As per, Reserve Bank of India’s (RBI’s) Annual Report for 2021-22, there are over 32, 57, 251 rural banking outlets in India assisting the rural population with a plethora of services including cash deposits, Aadhar-enabled payment system for cash withdrawal, money transfers, mini ATM, insurance, loans, bill payments, cash collection centre for customer/agents/representative of NBFC/Banks, airtime recharge, tours & travel, online shopping, Pan Card and mPoS services. Through the ‘RedBlue Revolution’, Spice Money is urging every rural banking outlet in India that provides Banking & Digital services, irrespective of the brand/company across the country to paint the exterior of their shops in red and blue, making it easy for customers to identify ‘Smart Banking Points’ and establish a clear & unique identity as a local banking point and get more footfall & business leading to increased interest in rural financial services led businesses.

India has witnessed several revolutions and movements that have been largely associated with agriculture & have assisted in increasing production capacity & quality, helping India keep up with growing demands. Similarly, the ‘RedBlue Revolution’ is aimed at creating a social movement around rural banking outlets to provide them with a clear identity with the help of a colour mnemonic.

Sanjeev Kumar, Co-Founder & CEO, Spice Money, said, “While rural India has showcased massive growth for digital financial services in recent years, we have barely scratched the surface. One of the biggest challenges that rural banking outlets across the country face is the lack of identity & awareness of the financial services they offer among the customers in their respective regions. Spice Money has pledged to address this issue on the historic occasion of completing 75 years of India's Independence with the launch of ‘RedBlue Revolution’ that will create a distinct identity for the category itself and build awareness for Smart Banking Points and further the reach of rural banking outlets across the country.”

Rural banking outlets are operated by banking correspondents/merchants/infopreneurs who act as an extended arm of banks or banking partners providing doorstep delivery of financial services to India’s underbanked and unserved communities in every nook and corner and helping in bringing them under the formal financial system. The ‘RedBlue Revolution’ will act as a catalyst in furthering the reach of rural banking outlets and will help in bridging the rural-urban divide by bringing the unserved population to the financial fold thereby driving financial inclusion for the last mile.