To honour the spirit of Womanhood, Multipl, the ace smart saving software, released a variety of women-specific features in its app. The campaign was started to honour the significance of Women's Day during the month of March. The offers are primarily for jewellery purchases, vacations, insurance payments, and upskilling costs. In March, women who begin their smart-money journey on the app by setting goals and saving for their future expenditures will be entered to win Diamond Jewellery and prizes worth Rs 10 Lacs.
Jags Raghavan, the COO of Multipl, said, "Though Multipl's initial adopters were mostly men, we have been, for the past six months, seeing a surge in the number of women who have been using Multipl for managing their lifestyle spends. Multiple goals are being created specifically to purchase jewellery, travel, and pay for children's educational expenses. We are making, saving and investing to ensuring that no one leaves behind money when they are spending on their lifestyle. Women being natural savers and more diligent with money, in general, are a natural user-fit for the app."
Financial independence has been a significant challenge for women in India. Even though the percentage of working and independent women has increased significantly, financial know-how remains limited. Nimisha, the Marketing Head of the firm, said, "Before coming up with this launch, we interviewed multiple women across the age groups of 20 to 40. We were surprised to find that more than 60 per cent of women who have built quite a successful career for themselves have their husbands and family (mostly males) handle their finances. However, a surprisingly high number of women weren't sure about where their money has been invested." She further added, "As a woman myself, I felt that this is exactly what we wanted to address and at the soonest because if such a majority populace is being left out, then the Multipl Movement cannot be complete in the truest sense."
In the fintech industry, Multipl's revolution is making the correct waves. However, it has to be seen how effective it would be to encourage financial awareness and independence among women.
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