Fullerton India, a leading non-banking financial company in India, with a strong pan-India presence has announced the launch of Finnovatica, a platform that seeks to nurture innovative ideas from talented young minds. Through this program, Fullerton India aims to providing a platform for aspiring student entrepreneurs from premier engineering institutes to design and develop innovative ideas primarily in the field of finance and commerce.Fullerton India has kept analytics, innovation and digitisation as fundamental pillars of its financial services offering and uses a variety of emerging technology and analytics to enable easy friction-free solution delivery to its customers.Commenting on the launch, Mr. Anand Natarajan, Head of Strategy and Business Execution, Fullerton India said, “Digital First is a fundamental philosophy for Fullerton India and we continue to invest for the future in talent, capability and in emerging technologies with the aim of providing easy and intuitive financial solutions to our customers. As a firm, we stimulate innovation from both within and outside the organization. Finnovatica is a collaborative platform to nurture ideas from bright young minds and provide financial and logistical support within an environment of friendly competition”.The programme is structured into three phases – idea generation, development and finalization and there are prizes at each level for the participants. During the course of the program, the aspiring entrepreneurs will be mentored by Fullerton India and its partners. The projects to be considered for Finnovatica include those related to customer origination and management, financial literacy, big data and machine learning among other innovative digital ideas.
About Fullerton India Credit Company Limited:
Fullerton India Credit Company Limited (FICCL) is one of India’s leading Non-Banking Finance Companies (NBFC). The total revenue of the company for the fiscal year ending March ’16 stood at Rs.2, 277 crores. As on December 31st, 2016, the AUM of the Company stood at Rs.12, 183 crores, serving 16.47 lakh customers through a widespread network of 528 branches spread across 22 states and 3 union territories, reaching out to 600 towns and over 51,000 villages in the country. Fullerton India offers several retail finance products for varying needs of customers ranging from rural households to SMEs, in the locations it serves. In February 2016, Fullerton India launched its housing finance company – Grihashakti. The company is headquartered in Mumbai and operates through 41 branches spread across 9 states – Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Andhra Pradesh, Telangana and West Bengal. Fullerton India is a wholly-owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.