The tie-up is aimed at integrating ABCL’s lending products with IPPB’s vast postal network and digital infrastructure to extend financial services to underserved segments.
“This partnership will ensure that our customers will have easy access to credit through a simplified digital loan application process with flexible options. It aligns with our vision of delivering a full suite of best-in-class banking products and services to every common man in India,” said R. Viswesvaran, MD and CEO,IPPB.
ABCL’s digital platform leverages artificial intelligence and data analytics to ensure quick loan approvals, minimal documentation, and faster disbursement.
Rakesh Singh, Executive Director and CEO (Designate) – NBFC, ABCL, said, “This partnership aligns with our vision to enhance financial inclusion and provide easy access to credit for individuals and businesses. Leveraging India Post Payments Bank’s extensive reach and our simplified digital loan application process, we aim to serve a larger customer base with convenient and flexible loan options.”
IPPB, which operates under the Department of Posts, has 100 per cent equity ownership by the Government of India. It operates through a nationwide network of around 1.65 lakh post offices, including 1.4 lakh in rural areas, and a workforce of over 3 lakh postal employees.
With a customer base of 11 crore across 5.57 lakh villages and towns, IPPB offers paperless, cashless, and presence-less banking through core banking-integrated smartphones and biometric devices.
