Hero FinCorp Collaborates With Key FinTech Stakeholders

Hero FinCorp Collaborates With Key FinTech Stakeholders

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Hero FinCorp Collaborates With Key FinTech Stakeholders Like Goodwell Investments, IFC, CDC, and More, to Launch Globally Applicable Guidelines for Investing in Responsible Digital Financial Inclusion

Amsterdam, The Netherlands

  • Hero FinCorp becomes a co-founding signatory to the globally applicable Guidelines for Investing in Responsible Digital
    Financial Inclusion
  • Hero FinCorp collaborates with over 40 FinTech investors and digital finance innovators for launching investor guidelines
    aimed at spreading the benefits of the FinTech revolution more widely

Hero FinCorp, part of the $10 billion Hero Group, has reaffirmed its commitment towards responsible business practices and financial inclusion by becoming a co-founding signatory to the globally applicable Guidelines for Investing in Responsible Digital Financial Inclusion.

These guidelines comprise of 10 touchpoints that industry veterans and stakeholders can use to evaluate opportunities, mitigate risks, and contribute to a more responsible and inclusive digital finance ecosystem. The guidelines include promotion of fair and transparent pricing, better disclosure of terms and conditions, preventing consumers from taking on excess debt, boosting financial literacy, accurately establishing customer identity, ensuring high levels of data privacy/ security standards, fostering an effective legal and regulatory framework, and enabling interoperability of DFS or Digital Financial Services.

“Digital is altering the way Financial Services are delivered and used, these guidelines would help ensure that all customer types are treated in a fair and responsible manner. As a Hero Group company, our customers always come first, and this step is a testament to our history and legacy,” says Abhimanyu Munjal, Jt. Managing Director & CEO, Hero FinCorp Limited.

The guidelines were launched on June 20, 2018 in Amsterdam, The Netherlands, at a conference called Connecting the Dots – Investing in Inclusive Digital Economies hosted by Goodwell Investments in partnership with IFC, DEG, the Dutch Ministry of Foreign Affairs, and with support from CDC. In total, there wereover 40 co-founding signatories that have all teamed up to launch these guidelines in Amsterdam. Signatories include over 30 investment organizations and more than 10 FinTech providers. Together, the co-founders form a unique alliance of leading financial institutions, development banks, investment funds, family offices, private equity firms, and debt fund managers focused on the financial sector and FinTech, as well as banks, digital lenders, service providers and industry organizations. It is a global group, consisting of signatories from Europe, North America, Africa, China and India.

About Hero FinCorp

Finance Made Easy. Three simple words, that drive India’s next generation ultra-lean credit champion – Hero FinCorp. Today, Hero FinCorp is one of India’s fastest growing NBFCs, with over 2.5 million customers, 2500+ touch points, nationwide presence at 1300+ locations, as it disburses a loan every 30 seconds.

Source: Business Wire India