Diversified firm RattanIndia Enterprises Ltd (REL) on Tuesday said its wholly owned subsidiary, Neotec Insurance Brokers Ltd, has received an insurance direct broker licence from IRDAI for life and general insurance.

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This licence will pave the way for REL to start the sale of life and general insurance products through digital channels on its fintech marketplace platform, BankSe, the company said in a press release.

“Digital India ecosystem with Aadhaar and account aggregator network is enabling self-service platforms through digital modes which provide a hassle-free consumer experience in a cost-efficient and transparent manner for customers,” it said.

The fintech platform of the company, BankSe, has an arrangement with 21 banks and financial firms to offer loan products, at present. Customers can have the convenience of logging into the app or website and uploading requisite documentation digitally to experience outcomes in real, quick time.

As an additional feature, any customer using BankSe will be able to get a personalised credit score, entirely free of cost. BankSe can be accessed through an Android mobile web portal.

It has developed a platform that connects with the defined processes of the lenders, thereby offering them instant visibility of customers' backgrounds and their historical financial records.

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(Edited by : Sudarsanan Mani)