In Conversation with Vikkas Goyal, Founder of Rupee112

Vikkas Goyal, Founder Rupee112

An interview with Mr. Vikkas Goyal, Founder of Rupee112

In this insightful conversation, we speak with Mr. Vikkas Goyal, the founder of Rupee112, a cutting-edge fintech platform revolutionizing personal finance management.

With a keen eye for innovation, Vikkas discusses his journey in building the platform, the challenges he’s overcome, and his vision for empowering individuals to take control of their financial futures.

His expertise and forward-thinking approach are reshaping the way people approach financial planning and investment.

Vikkas, could you start by sharing the story behind the founding of Rupee112? What inspired you to venture into the digital lending space?

Vikkas Goyal: The idea behind Rupee112 was born out of a strong desire to address the financial challenges faced by salaried professionals, especially during emergencies. Having witnessed firsthand how traditional lending systems often exclude individuals with less-than-perfect credit scores, I saw an opportunity to use technology to bridge this gap.

Rupee112 was founded on the principles of accessibility, affordability, and simplicity, aiming to empower individuals with instant, hassle-free access to credit through a completely digital and paperless process.

What are the biggest challenges you’ve faced in growing Rupee112, especially given the complexities in India’s regulatory environment?

Vikkas Goyal: Navigating the regulatory landscape has indeed been challenging, especially in ensuring compliance with evolving guidelines. Building a regulatory-compliant ecosystem while maintaining speed and user convenience required meticulous planning and robust technology.

Additionally, creating awareness and trust among users in a market saturated with fraudulent apps has been a significant hurdle. Overcoming these challenges involved constant dialogue with regulators, transparent practices, and investing in advanced security measures.

Given the rise of fake and fraudulent loan apps in India, which have caused significant distress to consumers, how do you ensure that Rupee112 differentiates itself as a trustworthy and secure platform?

Vikkas Goyal: Trust and transparency are at the core of Rupee112. We ensure this through clear communication, no hidden fees, and a secure, fully compliant platform. Our robust KYC processes, powered by AI and ML, prevent misuse and fraud.

Additionally, our user-first approach, combined with a 100% digital and paperless experience, ensures a seamless and safe journey for our customers.

By maintaining open channels of communication and providing exceptional customer support, we’ve built a reputation as a reliable partner in financial services.

How have the recent regulatory developments in India impacted your operations, and what more could be done to foster growth in the digital lending space?

Vikkas Goyal: Recent regulatory changes, like tighter KYC norms and guidelines for digital lending apps, have made the sector more robust and secure.

While these measures have added operational layers, they have also reinforced trust in platforms like ours.

To foster growth, the government could introduce more incentives for technology adoption, standardize guidelines across states, and promote public-private collaborations to enhance financial literacy and digital infrastructure.

With the rapid growth of fintech, how do you ensure Rupee112 stays ahead of the competition and continues to offer innovative solutions to its users?

Vikkas Goyal: Innovation is the backbone of Rupee112. We leverage AI and ML to refine our risk assessment models, improve user experiences, and introduce tailored loan products. Our focus remains on understanding customer needs and addressing them with precision.

By investing in cutting-edge technology, maintaining agility, and staying attuned to market trends, we ensure Rupee112 remains a leader in the digital lending space.

What advice would you give to aspiring fintech entrepreneurs who want to innovate and make an impact in the digital lending or broader fintech space?

Vikkas Goyal: My advice would be to focus on solving real, tangible problems for consumers. Build a strong foundation of trust through transparency and compliance. Leverage technology not just for innovation but to create meaningful, user-centric solutions.

Stay resilient in the face of challenges and keep evolving with the market. Most importantly, never lose sight of the mission to make a positive impact on people’s lives.

Mr. Vikkas Goyal’s work with Rupee112 exemplifies the power of technology in transforming personal finance. His dedication to simplifying financial management for individuals sets a new standard in the fintech industry.

As Rupee112 continues to grow, Vikkas’ innovative solutions are making financial literacy and investment more accessible, ultimately paving the way for a smarter, more financially secure future for all.

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