FACE, the Reserve Bank of India recognised Self-Regulatory Organization (SRO) in the FinTech sector, will work with its network of 165 plus FinTech members to promote financial literacy and credit awareness among consumers
FinTech BizNews Service
Mumbai, March 11, 2025: TransUnion CIBIL and the Fintech Association for Consumer Empowerment (FACE) are partnering to promote financial literacy and credit awareness in India. The initiative, named CIBIL Jaagran, seeks to improve credit education and facilitate easy access to credit for consumers via FinTech solutions.
Under the agreement, TransUnion CIBIL will provide knowledge and expertise and will develop co-branded and customized educational content. FACE, the Reserve Bank of India recognised Self-Regulatory Organization (SRO) in the FinTech sector, will work with its network of 165 plus FinTech members to promote financial literacy and credit awareness among consumers .
TransUnion CBIL’s information repository, data capabilities and analytical insights position it well to offer relevant content about financial literacy. The content will include emails, articles, videos, webinars and podcasts and will be disseminated by FACE. FACE will utilize its own and its member’s digital engagement channels to maximize the reach and impact of the campaign.
Announcing the partnership with FACE, Bhavesh Jain, MD and CEO, TransUnion CIBIL said: “While consumers now have easier access to financial products than ever before, they may lack the understanding and knowledge of how to leverage these products to improve their financial health. Given that as many as 28% of FinTechs’ customers in December 2024 were New-to-Credit (NTC)1, consumer literacy and education are critical for FinTechs if their customers are to manage their credit positively. The efforts by TransUnion CIBIL and FACE will enable consumers to become financially aware and self-reliant.”
Emphasizing the involvement of the financial ecosystem as a whole in consumer education, Sugandh Saxena, CEO of FACE said: “Organizations such as FACE and TransUnion CIBIL play a crucial role in bridging the gap between financial products and consumers This joint initiative underscores our shared commitment to ensuring that individuals are well-informed and capable of making responsible financial decisions. Continuously engaging with consumers about responsible credit behavior and borrowing practices is integral to ensuring the robustness of the credit and financial ecosystem. An informed and responsible consumer is an asset to the financial ecosystem and is key to the financial wellbeing and stability of the nation”
