Finwego Case Study
Finwego is a Chennai-based, Harvard-incubated FinTech startup that enables educational institutes, school staff, vendors, parents, and teachers to gain working capital in the form of a loan for a streamlined education experience.
When Finwego approached us with their unconventional yet innovative idea to build a mobile app that would facilitate all kinds of loans for the schooling ecosystem, we were all in! After all, who wouldn’t want to provide the perfect push for the nation’s education system?
The realization that traditional banks and lending institutions in India continue to be apprehensive about providing working capitals to schools and their staff, led to the birth of an ingenious idea; Finwego.
With extensive experience in FinTech and education, the founders of Finwego felt that there was a strong need for lending, despite their focus on a niche segment like private schools.
From unsecured personal loans to teachers, to secured loans to private schools, Finwego offers what many others could not; incidental financial support.
During our chat with the Finwego team, it was mentioned that the target market for the mobile app would be Tier-2 cities of India, where the penetration of high-speed internet and the usage of digital products was gradually, but steadily making its presence felt. Consequently, to build a lending app that could be accessed easily by everyone and that would be available for offline use, was a huge task.
Every use case, every group of persons who could benefit from the Finwego app, needed to be taken into consideration before our team could land on a strategy to begin the uphill climb. And in a matter of just a few days, our team was ready. We are, after all, one of the most trusted mobile app development company in India.
Before setting out on this exciting journey of crafting the app from scratch, our team of experts personally visited the onboarded schools and educational institutions, and left no stone unturned in gathering as much information possible about the smartphone demographics, network accessibility in the areas and a general understanding of behaviours towards using mobile apps. Then, we set course for what evolved into a comprehensive platform that has enabled the private school ecosystem.
We drew up a simple and coherent 3-step process for any individual to apply for a loan, which resulted in record traffic for loan applications on the Finwego app. This was all made possible with the help of our talented developers who put all heart and soul into a single mobile app development project, taking it to a new level of efficiency and reliability.
Working on a mobile app that had the potential to enable and sustain the workings of numerous schools, teachers and parents, turned out to be one of the most fulfilling projects that we have ever taken on.
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