With this launch, Muthoot FinCorp Ltd. bets on a phygital model by bringing loans, investments, insurance, and payments onto one app, backed by its 3750+ branch network
Jan.
21, 2025, Indian: Muthoot FinCorp Ltd. (Muthoot Blue) has
announced its evolution into a full-scale financial services marketplace,
integrating loans, investments, savings, payments, and insurance with its
digital platform, Muthoot FinCorp ONE.
This
move marks a significant digital expansion for the Muthoot Pappachan Group
(MPG), a 138-year-old financial services group, aimed at deepening financial
inclusion and offering consumers a unified experience across financial services
products.
The
Muthoot FinCorp ONE platform operates on a phygital model, combining Muthoot
FinCorp’s physical reach of over 3750+ branches across 19,000 pin codes
with the digital convenience of an all-in-one financial platform. It currently
has over 2 million monthly active users, enabling customers to access
multiple services including loans, investments, insurance, and payments all
within one app.
“Consumers
no longer want fragmented financial journeys. A loan from one provider,
insurance from another, payments through a third, it’s cumbersome,” said Chandan
Khaitan, CEO, Muthoot FinCorp ONE. “That’s why we have built Muthoot
FinCorp ONE, a single platform, that brings together loans, investments,
insurance, and payments, in partnership with leading banks and NBFCs, to serve
every financial need in one trusted ecosystem.”
He
further added, "Our focus is on deepening engagement and strengthening
partnerships to deliver a more integrated experience across our app and branch
touchpoints.”
Today
India’s access to formal finance continues to lag despite rapid economic
growth. Nearly 500 million adults remain outside the formal credit
system, often turning to unregulated sources. With 45% of Muthoot FinCorp’s
customers being new-to-credit, the company is positioning its phygital
marketplace as a bridge between aspiration and accessibility, designed to bring
regulated, affordable financial solutions to the underserved.
Muthoot
FinCorp ONE’s financial marketplace platform is built on in-house products and
partnerships with leading financial institutions such as SBI Cards, Bajaj
Finance, Axis Bank, IDFC Bank, Tata Capital and
more, expanding both product variety and customer reach.
The
Muthoot FinCorp ONE marketplace will continue to expand its suite of offerings
through both in-house products and partnerships with leading banks, NBFCs, and
fintechs.
About Muthoot FinCorp ONE
Muthoot
FinCorp ONE
Muthoot
FinCorp ONE is an all-in-one comprehensive financial app from Muthoot FinCorp
Ltd. (MFL), revolutionizing the way people manage their finances online. Across
lending, investing, saving, or making payments, the platform makes it seamless
and convenient for its customers to access the right products and services
required through various life stages. Thereby building a holistic financial
ecosystem using the latest digital products.
An
SBU of Muthoot FinCorp Limited, Muthoot FinCorp ONE is backed by a legacy
stretching back over 135 years, and the trust of more than 1 crore customers.
Muthoot
FinCorp ONE continues to uphold the values of the parent, the Muthoot Pappachan
Group (Muthoot Blue) by providing its customers with easily accessible
services, replete with unmistakable quality. The Muthoot Pappachan Group is
among India's most reputed names in the financial services industry, with
customers in diverse segments like Automotive industry, Financial Services,
Hospitality, Alternate Energy, Real Estate, and Precious Metals.
About
Muthoot FinCorp Ltd.
Muthoot
FinCorp Limited, the flagship company of 138-year-old business conglomerate
Muthoot Pappachan Group, is India's leading Non-Banking Financial Company
(NBFC) with an aim to transform the lives of common man by ensuring their
financial wellbeing through an array of varied products and services. The
Company today offers more than two dozen products and services through its
3750+ branches including gold loans, loan against property, business loans,
two-wheeler loans, affordable housing loans, used car loans and many more. The
Company aims to serve the underbanked, to be their most trusted financial
partner, and ensure financial inclusion of every household in India. Muthoot
FinCorp's long-standing experience, expertise and stronghold in the semi urban
and rural areas has enabled the company to provide quick and customized finance
options to the masses.
About
Muthoot Pappachan Group
Founded
in 1887, Muthoot Pappachan Group (MPG) is a significant entity in the Indian
business landscape with nationwide presence and tailor-made products and
services for its customers. The group which planted its roots in retail
trading, later diversified into various sectors including Financial Services,
Hospitality, Automotive, Realty, IT Services, Precious Metals, and Alternate
Energy. With Muthoot FinCorp Limited as its flagship company, Muthoot Pappachan
Group (MPG) today has a workforce of over 40,000 employees, a vast network of
more than 5,200 branches nationwide and Bollywood star Shah Rukh Khan aas its
brand ambassador. Muthoot Pappachan Foundation, the CSR arm of the group
facilitates the CSR activities for the entire group companies focusing on
Health, Education, Environment and Livelihood (HEEL).
Media Contact :
PR contact:
Ankita Mitra
+91 9620997207