India Post Payments Bank and Koo collaborate to drive financial inclusion and literacy

CHENNAI: India Post Payments Bank (IPPB), division of India Post, under Ministry of Communications, today, signed a Memorandum of Understanding (MoU) with Koo, India’s own multilingual microblogging platform. The MoU aims to bring together the synergies of both Koo and IPPB to drive financial inclusion and literacy amongst the users in tier 2, tier 3 and remote cities and hinterlands. Signed in the presence of Shri. J Venkatramu, MD & CEO, IPPB and Shri. Aparmeya Radhakrishan, Co-Founder & CEO, Koo, the MoU will help in reaching out to a large customer base and communicate via Koo’s unique language communities across the country using Multi Lingual Koo (MLK) features.

India Post Payments Bank is one of the biggest payments bank in India, setup by the Department of Posts under Ministry of Communications  and has deep penetration in the remotest parts of the country. The increased use of the internet and easy availability of smartphones, backed with GoI’s Digital India push, has led to people communicating through social media and embracing the digital revolution. IPPB’s offline reach, coupled with Koo’s ability to empower users though digital touchpoints, will ensure communication to users in the widest and remotest areas of India. The collaboration will also include management of customer relationships for IPPB users through Koo’s grievance redressal system.