FinTech to Empower Farmers
New Street Technologies is an innovator in financial technology solutions. It is transforming financing in the agriculture sector with its ground-breaking contributions and so was a winner of the Most Innovative Products by Emerging Enterprise award at the 5th Edition of BW Businessworld’s Emerging Business Awards. New Street Technologies is a driving force in the Agri-FinTech sector.
Empowering Farmers
Collaborating with Federal Bank, New Street Technologies has brought the Kisan Credit Card (KCC) loan product to fruition in partnership with RBIH's initiative. The outcome is a digital ecosystem that expedites loan processes, providing swift access to formal credit for small and marginal farmers. This innovation aligns with New Street Technologies’ mission to enhance financial inclusivity. Says Founder and CEO Sajeev Viswanathan, "The farmers now have access to formal credit in a timely manner. The loan processing can now be completed in less than five minutes instead of the weeks and months that it used to take earlier."
New Street Technologies builds and operates blockchain enabled platforms for institutional clients in financial services that ensure efficient and trustworthy transactions. The company’s services reduce potential for fraud and ensure seamless loan management. This dynamic approach substantially reduces operational costs, offering increased value to end-users.
Says Viswanathan, "When we say blockchain, people usually think of cryptocurrency. We are using the technology behind it, which is in finance, banking space, making them risk proof. So, the blockchain technology is used to solve the problem of the underserved, which is the pyramid of the Indian economy."
* Milestones
New Street Technologies' journey began in May 2022, with its launch for Federal Bank in Tamil Nadu. The company proved its mettle with a demonstration of instant Kisan Credit Card processing in September 2022. This demonstration attracted the attention of business correspondents and Farmer Producer Organisations, leading to future collaborations.
The company plans to expand its services in agri-sectors like fruit orchards, dairy farming and Agri-allied sectors. The integration of advanced features, from crop health advisory to community networking, showcases its commitment to innovation in addressing challenges in the farm sector.
Bright Future
New Street Technologies is more than a present day influencer, it is a harbinger of tomorrow's transformation. It is a recipient of the Most Innovative Products by Emerging Enterprise award for exemplifying the power of technology in reshaping agricultural finance.
The company pioneers innovation, elevating the Agri-FinTech landscape, to advance towards an inclusive, technology-driven future.
