An open source Initiative D91 labs : For coders & designers building Fintech apps
By MYBRANDBOOK
SETU, a FINTECH based software production unity has launched D91 labs, an well equipped learning platform both for developers and designers – an open source initiative by the company to understand and enhance the financial lives of Bharat that embrace financial inclusion at the grass root level.
D91 labs aspires to become last mile understanding for developers building fintech product for the masses. It publishes open source research, insights, frameworks and component libraries for designers, developers, and other stakeholders.
Announcing D91 labs, the firm also published three posts on blogging platform Medium around designing for choices in payments, a case study depicting the plight of individuals who borrow from unorganised lenders and a survey on mobile payments in India.
These blog posts deal with several aspects of building fintech solutions for Bharat (beyond metros and top 10 cities). It offers crucial actionable insights around UX, design, development as well as the status quo of the payments industry in India.
The brainchild of India Stack member Nikhil Kumar and ex-venture advisor to VC firm Aspada Ventures Sahil Kini – Setu- had raised $3.5 million from Lightspeed and Bharat Innovation Fund.
At a time of announcing the funding, Setu had introduced a product called Collect which allows merchants with all kinds of scale to collect recurring payments from consumers such as EMIs for loans, mutual fund SIPs, insurance premiums or housing society maintenance charges.
Developers can use Setu’s sandbox to build applications and integrate with one financial institution to test their product. The company partnered with Kotak and SBI Mutual Fund for accessing their APIs by developers without wasting time and energy.
One of the blog posts based on a survey by D91 labs found that 66% of users prefer Paytm as far as bill payment is concerned, while Google Pay was preferred for over 60% of users. When it comes to peer to peer fund transfer, Google Pay emerges as a choice for 72.5% users. For offline merchant payments, Paytm tops the chart with 70.5% plus users preferring it over other apps.
Given that there is an absence of platforms that offers actionable insights to developers who are building fintech applications for masses in India, D91 labs undoubtedly is a go-to destination for designers, coders, and other stakeholders. Further, the firm brings a lot of value by allowing developers to test their apps on APIs provided by banks.
TAGS : D91 LABS, LIGHTSPEED, NIKHIL KUMAR, SAHIL KINI, SETU
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : RAJENDRA SINGH PAWAR
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT ...
Icons Of India : Deepak Sharma
Deepak Sharma spearheads Schneider Electric India. He brings with him ...
Icons Of India : PRATIVA MOHAPATRA
Prativa is a transformational leader with an incredible breadth of exp...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
Indian Tech Talent Excelling The Tech World - REVATHI ADVAITHI, CEO- Flex
Revathi Advaithi, the CEO of Flex, is a dynamic leader driving growth ...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - JAYASHREE ULLAL, President and CEO - Arista Network
Jayshree V. Ullal is a British-American billionaire businesswoman, ser...