1.

Blockchain Technology:

Blockchain is a method of recording and updating data in the form of digital ledgers, contracts and
agreements. The digitized records are joined together into sets of a block then are lumped together
chronologically and cryptographically into a “chain” by using complex mathematical algorithms. Then
followed by an encryption process called “hashing” which is carried out by lots of different computers. An
agreement by all the computers, every block receives a unique digital signature. This ledger once updated
cannot be altered or tampered with, only added to, the information is updated for everyone in the network
at the same time. This method reduces the chances of fraud and errors can be spotted easily.

2. P2P lending:

Peer-to-Peer lending is a practice where, through an online platform the borrowers and lenders are brought
together. People who are in need of a personal loan get in touch with the lender on the platform and raise
the funds for themselves. In this practice intermediaries like banks, NBFCs etc are eliminated, and lenders
can earn higher returns and borrowers can raise personal loans online at a cheaper interest rate. Faircent
with more than 30,000 registered borrowers and 6,000 registered lenders, has disbursed more than 8.5
crores through its platform till date, is India’s largest P2P lending company.

3. Financial Inclusion:

Even after 60 years of Independence a vast section of the society is still - unaware financial products and
services. With an aim to inculcate the habit of saving money in Indians, the term ‘Financial Inclusion’ was
coined. - Under Financial Inclusion banks were made to make available basic banking ‘no-frills’ account
that could have a Nil or a min balance. The government of India also announced “the Pradhan Mantri Jan
Dhan Yojna” recently, to provide bank accounts to at least 75 million people.

4. Next-Gen Payments:

For a decade or more Fintech has made efforts in paving its way in adopting the next generation methods
of payments in India. Many start-ups have entered this space and have adopted the mobile money transfer
method. With next-gen payments, the even Indian government is keen to adapt and move towards
Cashless Bharat vision.

5. Bank in a Box:

With a vision of new banking formats and central bank regulations to reach the unbanked in India, it is the
need of the hour that banks, including the new ones like NBFCs (Non-Banking Financial Companies), to
be able to set up their business with right solutions. This is surging India to adopt for the Bank in a Box
solution. The key aspects present that with the adoption of these solutions banks can be more nimble in
tapping the unbanked segments. Gaining special importance from small co-operative and RRBs in India,
this solution has emerged as extremely effective in meeting up with the plans of expansion for different
products and segments.

Faircent is part of NASSCOM 10000 startup and is investing heavily to stay on top of the FinTech industry
not just in India but globally. We are providing faster and cheper access to credit to borrowers who were
earlier under served or denied loans by traditional financial institutions contributing to the goal of financial
inclusion. By taking traditionally, document-based, tedious processes like legally-binding signing of loan
agreements between borrowers and lender online; and through online payments and repayments directly
between borrowers and lenders, Faircent is using technology to make financial transactions faster,
smoother and devoid of human interface. So Sign Up now because every % counts!