Australian, Indian Fintech companies partner to address INR 55,000 Cr Student Market

The launch event of the partnership was held at the Australian High Commission in New Delhi.

Australian fintech company Ziksu and Indian fintech Elanistech have joined forces to launch a fintech platform for Indian students, studying in Australia. The new platform will offer a unified platform and comprehensive financial solutions designed specifically for the requirements of Indian students.

Indian fintech Elanistech provides financial services to Indian students studying in Australia, and abroad.

While speaking at the launch event at the Australian High Commission in New Delhi, Dr Monica Kennedy, Senior Trade and Investment Commissioner – South Asia, Australian Trade and Investment Commission (Austrade) said,“Australia’s Ziksu’s partnership with India’s Elanistech and IDFC First Bank Limited is a great example of how Australia’s technology is helping India to seamlessly bridge sectors like education and financial services. Austrade has been proud to support Ziksu and other Australian fintech companies to partner for prosperity in India's vibrant innovation landscape, while facilitating technology collaboration between the two countries.”

Speaking at the launch, Karthik Srinivasan, Founder & CTIO of Ziksu, said, “We are delighted to introduce one of the best-in-class, fintech offerings to Indian students pursuing educational opportunities in Australia. Our aim is to streamline the entire financing value-chain from the pre-admission to the post-admission stage, leveraging on our world-class technology infrastructure, to tap into the 55,000 Cr Student Market in India.”

Indian Fintech Platform Details

It will address the student financing niche where Aus$ 3.2bn (approx. INR.17,700 Crores) is the average total value of a student’s loan underwritten per year. The strategic partnership will support the aspiring students and their parents. Also, Education Consultants and University Administrators will also get support as the platform will offer faster and simplified digital transaction processing

“With a clear vision to address the unique financial needs and challenges faced by the niche customer segment, Elanistech aims to provide seamless, secure and convenient solutions positioning itself as a leader in this burgeoning market. Dedicated to providing a student-focused, all-in-one financial platform for Indian students studying abroad, Elanistech is committed to supporting the financial well-being of future international students. Hence one of the primary aims is to create a kind of guide wire with this digital ecosystem where the students know precisely what they will be spending, with verified endpoints at the destinations where they are going to study.”, said Padmanabhan Desikachari, Technical Advisor, Elanistech.

Through this new platform, the students are going to effortlessly manage their pre-departure and post-departure finances for Australia and India through a seamless KYC process.

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