SheCommerz (last mile connectivity partner for products and services distribution) and New Street Tech (a blockchain enterprise based in India and Middle East) have announced their partnership to deliver financial services distribution on behalf of Banks, NBFCs and P2P-Lenders. SheCommerz builds and manage assets for Banks, NBFCs and MFIs to facilitate priority sector lending. They will deliver last mile financial services distribution leveraging MiFiX, New Street’s proprietary blockchain platform for BFSI sector. The partnership aims to expand last mile MFI lending services across major MFI clusters in India.
“Partnering with New Street Technologies was the first and single most important decision I took as the co-founder of a digitally driven distribution company. Our operations are tech-enabled through New Street’s ‘MIFIX’ application that facilitates end-to-end processes in record turnaround time by seamlessly integrating with complex banking systems, UIDAI, etc. The analysis we draw out of MIFIX are helping us a great deal in bringing process efficiencies, scale and in exploring newer opportunities.” - Aruna Sampige, CEO and MD SheCommerz Market Services Pvt Ltd.