Indian shadow lender Shriram City Union Finance Ltd. is building a so-called super app to offer various financial products on a single digital platform, joining other major non-bank finance companies in taking on growing competition from fintech firms.
“We already are in the process of building a super app,” Y.S. Chakravarti, chief executive officer of the company, said in an interview Monday on Bloomberg Television. “In 18-20 months from now, the super app should be ready, offering every financial product that a customer needs.”
Shriram City Union Finance MD & CEO Y.S. Chakravarti discusses about his company’s merger with Shriram Transport Finance - which will create the largest shadow lender to consumers in India. He was speaking with Haslinda Amin and Rishaad Salamat on “Bloomberg
Markets: Asia.”
The move follows another major shadow lender Bajaj Finance Ltd., which ...
