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 micro blogging 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 communicating 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 banks in India, setup by the Department of Posts under the 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, had led to people communicating through social media and embracing the digital revolution. IPPB’s offline reach, coupled with Koo’s ability to empower users through digital touch points, 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.
Shri. J Venkatramu, MD & CEO, IPPB, said “India has been at the forefront of digital transformation, with every sector embracing technological solutions to empower and bridge the distance between hope and opportunity. Our collaboration with Koo is an initiative to connect with citizens of the country in the languages of their choice, through its features such as MLK and many more. We will also establish communication with users across states and spread awareness around IPPB’s legacy, products and services, for which Koo will have a significant role to play.”
Shri. Aprameya Radhakrishna, Co-founder and CEO, Koo, said “At Koo, we are committed to ensure rapid advancement on our mission of digital inclusion. We are certain that this partnership with India Post Payments Bank will synergise the best of both traditional and contemporary modes of communication, and help users to stay connected with each other.”