Since last year, the Karandaaz – a registered company – as a service programme has been subsidizing design thinking services for digital financial service providers who offer products through mobile and web-based platforms.
This year, Karandaaz is once again offering companies that have an existing mobile or web-based platform for their product or service, or plan to build one, the opportunity to apply for Karandaaz matching grants for contracting design thinking services. Karandaaz has put together a panel of top-tier design thinking service providers for this purpose, and is subsidizing their services through matching grants for the applicants. When viewed digitally, financial products can be nuanced and confusing to the majority of the population. As a result, a large portion of the population, especially in an economy with low literacy and even lower financial literacy, is unable to benefit from them.
Because of this limitation, there is a lack of awareness, confidence, and acceptance of such goods, and their ability to impact financial inclusion remains untapped. Karandaaz has fine-tuned the programme this year, raising the matching grant amount to Rs 1 million. Ideate Innovation, Designist, and Systems Limited are among the design firms on Karandaaz’s stand, all of which have a track record of solving design problems for renowned organizations by employing best international practices in human-centered design.