National, 21st October 2020: Chennai-headquartered fintech startup, Finwego has announced the launch of Radius, a first of its kind, cutting edge, high-tech, next generation banking application for private educational institutions in India. Radius ensures smart automation and digital transformation of educational institutions giving a further boost to the digital revolution witnessed by the education sector in the country.
Using Finwego, Institute owners can easily track the overall performance of the institute/branches, simplify cash management, and analyze student enrolment and financial trends. It also gives instant visibility to the institute’s cash/ fee receivables situation at any point in time and helps in managing receivables using dashboards and programmatic payment reminders to students who are yet to pay the fees. In a short span, using Radius, 1300+ educational institutions pan India have been able to digitize their new admissions, fee collection, cash management, payroll & expenses at ease using the device of their choice.
Finwego provides faster and easier access to embedded fintech products such as payments, loans, insurance, and investments to the institute, students, tutors, and suppliers. It also offers a white-labeled app that educational institutions can use to stay connected with the student community and also collect fees digitally.
Commenting on the move, Shiv Vadivelalagan, Co-founder and CEO of Finwego said, “FinTech and EdTech have been the two fastest-growing sectors pre-and post-COVID and we operate at the intersection of the two. The last three months have been exciting for all of us here as we helped over a thousand educational institutions in their digital transformation and embrace the new norm. We are fundamentally reimagining how the education sector banks. The fact that we have been able to bring on board 1000+ educational institutions and 50K students in less than 100 days shows that we are solving to a real problem. Looking at this overwhelming response in India, we are currently exploring international expansion.”
Founded in 2018 by alumni of Harvard and Stanford University, Finwego’s neo-banking services will support 1M+ small and medium educational institutions as well as the 160M students to embrace the new lifestyle patterns due to COVID-19. Finwego is a pan India player with it’s customers present in 20+ states in India.