Financial services company Finmap on Wednesday said it has received license from the Pension Fund Regulatory and Development Authority (PFRDA) under the National Pension Scheme (NPS). It has also obtained a Certificate of Registration from the Insurance Regulatory and Development Authority of India (IRDA) recognizing it as a Corporate Agent.
“The license will enable the company to sell insurance and NPS products to its customers as a verified seller and help expand its customer base,” Finmap said in its statement.
The company will launch NPS on its app as an investment tool in the coming months.
“The IRDAI and PFRDA certifications are a turning point in our journey. This will help us to strengthen our financial services and validate our existence as a genuine seller of NPS and Insurance products. We aim to create a diverse, robust and full-service platform for all digital financial products. This certification will take us closer to our vision of becoming the next generation financial advisor and one-stop marketplace for all financial products,” said Kumar Binit, Founder and CEO, Finmap.
The company offers financial products ranging from mutual funds to bank deposits on its app. The company said it is a “one-stop marketplace for all financial products made available digitally by top banks, NBFCs, insurance companies, mutual fund institutions and capital markets.”
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