FISDOM IN PARTNERSHIP WITH LAKSHMI VILAS BANK LAUNCHES DIGITAL NPS (NATIONAL PENSION SCHEME) INVESTMENTS

FISDOM IN PARTNERSHIP WITH LAKSHMI VILAS BANK LAUNCHES DIGITAL NPS (NATIONAL PENSION SCHEME) INVESTMENTS

Chennai –Fisdom and Lakshmi Vilas Bank have partnered to enable investments in NPS (National Pension Scheme) in a completely digital and paperless manner. With this launch Fisdom is the first Fintech company to provide NPS digitally. This service has been made available on the Fisdom mobile app and Lakshmi Vilas Bank (LVB) will be the Point of Presence for the NPS service.

Using the fisdom app, any registered user can invest in NPS within couple of minutes without any paperwork; the user can choose the risk profile and fund they want to invest in. After investments, the user can also track the value of their NPS portfolio on the app.

LVB is lining up an array of services as a part of its digital focus. This association with Fisdom will help the customers plan their finances in a better way. Using this application, the customer will be able to plan their investments under the pension scheme in accordance with their goals. The Fisdom app includes services like getting the KYC done, investing money in various instruments like mutual funds and pension funds, viewing account summary, withdrawing invested money among many other services.

Mr. P Mukherjee, MD & CEO, Lakshmi Vilas Bank said, “It is our continuing endeavor to bring more financial products digitally; through our fintech partner Fisdom, we are glad to bring NPS for everyone and to encourage them to invest smarter. This association will be part of our broader focus on diversifying and offering products and services in the banking and financial space”

 Mr. Peeush Jain, Head of Transformation and Partnerships, Lakshmi Vilas Bank added, “Going digital is the way to the future; and with this partnership with Fisdom we will be able to offer more services to all the customers digitally”

 Mr. Subramanya SV, CEO and Co-founder of Fisdom stated, “We are delighted to partner with Lakshmi Vilas Bank to bring NPS to customers across the country. This new feature of investing in NPS through the Fisdom app, would help everyone make smart pension related investments for their future in a hassle free way. 

 Fisdom is a Bangalore based startup that uses cutting edge technology to solve inherent issues with financial investments by making investing easy to understand, quick and highly accessible through a mobile and web app.

Lakshmi Vilas Bank was founded in 1926 and it has a national presence serving over 2 million customer accounts through its 509 branches, with PAN India presence, supervised by 11 Regional Offices, 7 Extension Counters and 981 ATMs in 16 States and Union Territory of Pondicherry. The Bank is active across the entire spectrum of customer segments – retail, mid-market and corporate. Through its branches, the Bank also offers a host of para-banking products in association with Life, General and Health Insurance companies, mutual funds, stock broking houses, money remittance companies, etc. on a technologically advanced platform.

Fisdom, is a technology platform for personal finance across investments, savings and protection. Fisdom blends technology with financial advice to bring simplicity, accessibility and trust in financial investments for the vast underserved population in India. It simplifies all aspects for financially non-savvy customers – onboarding, advisory, transaction, active management – all delivered digitally and through algorithms directly on one’s smartphone.

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