Jana Small Finance Bank: Best Inclusive Financial Service India 2020

Jana Small Finance Bank has been helping unbanked and underbanked Indians to prosper for over two decades, with inclusive financial services and social contributions. It began as a non-profit, the country’s first urban micro-credit institution. Jana was granted a small finance banking license in 2017, and started its commercial operations in March 2018 and since then has made rapid progress introducing various products and services that truly values the hard earned money of its customers.

Pandemic notwithstanding, the bank is profitable and growing. The bank branch network has gone from 90 to 500 branches in 22 states and Union Territories of India and currently has over 40 lakh customers and 1500+ employees.

Onboarding of customers has been simplified with Video KYC procedures that save time and make client safety a top priority. To achieve customer centricity, ease of communication to customers and turnaround experience, the bank has implemented many initiatives on technology, process and products front viz complete digital sourcing, robotics in loan underwriting, digital tab based collections, UPI QR code based collection etc.

Jana Small Finance Bank has earned a reputation as a driver of financial inclusion, and made great strides in extending its services to unbanked and underserved populations – nearly half of its outlets are in semi-urban and rural areas. The bank offers a digital propositions perfectly attuned to its client base, with a range of account options and services for individual and business clients. Jana’s mobile app brings banking to the palm of the hand making the banking services accessible to its clients “anytime, anywhere”. The CFI.co judging panel commends the bank on its upward trajectory, and declares Jana Small Finance Bank a programme winner with the 2020 award for best Inclusive Financial Service (India).