Applications

Capital Quotient launches a First-of-its-Kind App for the MSME Workforce

0
capital quotient

Capital Quotient launches a payroll-based programme aimed at helping employees of small and medium sized enterprises in tier II and III cities of India. IDFC Bank is their tech integration partner for nodal accounts.

A first-of-its-kind, employees of small enterprises can now hope to create a savings fund with little contribution per month and get a contribution from their employers as well. The app would be available in English, Hindi and Kannada.

“Capital Quotient as a company aims to spread financial literacy. With only 4 per cent of MSMEs having access to formal source of finance and even fewer with knowledge of saving options, creating awareness on the importance of saving is absolutely the need of the hour. With this vision, we have launched Siply, so that even workers of small businesses can start saving and have financial security.”, said Sousthav Chakrabarty, Co-founder and CEO of Capital Quotient.

He further added, “A significant percentage of the population fall under the salary bracket of less than Rs 10,000, which is below the PF threshold and are generally overlooked by wealth management firms and agents. This is the section we are targeting with Siply. Our first step is to educate the business owners, who we hope will help us reach out to a larger section of the population, clearing misconceptions of locking away a big chunk of one’s income to have a contingency fund”.

An IDFC Bank official said, “We are happy to associate with Capital Quotient to make a difference to the lives of the employees of small and medium enterprises. Business owners, specially from the manufacturing industry across the country have rolled out this programme for their employees with the objective of giving them a secured financial life. “

RELATED READING  Atal Innovation Mission to Launch Innovation Challenge , Set Up 100+ Incubators Across India

About Capital Quotient: Capital Quotient is a SEBI Registered Investment Advisor, whose revenue is generated directly from customers paying for their advisory services. Prominent investors include senior executives from Accenture, Marriott International and Ola. The company has its headquarters in Bangalore and is planning to expand to 10-12 Tier 2 cities.

Capital Quotient provides a full stack service covering 20 asset classes including Mutual Funds, Asset Allocation, Tax Loss Harvesting, Retirement Plans, Stock Recommendations and Inception and Period Performance of Portfolios. Capital Quotient has bank-grade security, multi-factor authentication and a private server behind firewall architecture to protect the data of their customers. Unbiased advice, multi-asset consolidation (assists in consolidating any type of investments into our platform, irrespective of where it is held or managed), last mile connect (brings together the best of technology and personal connection to offer a unique technology-assisted personalized wealth-advisory service) are some of the USPs of Capital Quotient.

Like this content? Sign up for our daily newsletter to get latest updates.

Hong-Kong based Ad-tech Startup, OneOneDay launches in India

Previous article

DNA Testing Facilities Across India as AIIMS-Delhi Calls for Implementation of One-Stop Sexual Assault Examination Centres

Next article

Comments

Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.