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Tata Digital To Add Neobank To Its Super App Collection

Friday, 18 June 2021, 04:50 Hrs

A Tata super app, backed by a neobank, is expected to follow in the footsteps of Amazon and Flipkart in offering a wide range of financial services. The Tata group has a long history of contributing to nation-building through founding businesses that helped lay the groundwork for India's development.

After bolstering its e-commerce offerings by acquiring BigBasket and 1mg, Tata Digital wants to offer financial services including credit, insurance, and mutual funds on its upcoming super app by way of a neobank.

Tata Digital is likely to offer financial services including credit, insurance, and mutual funds on its soon to be launched ‘super app’. This will be through partnerships with licensed financial institutions, sources said, as the digital arm of India’s largest conglomerate gears up to take on established players like Amazon and Flipkart.

Tata Digital has set up a neobank vertical and is trying to rope in industry veterans to set up this.