Niyo 2020 roundup + Preview to 2021 ✨

Hello all,

Wish you a very Happy New Year! While 2020 brought its challenges in the form of the YES Bank Moratorium, COVID-19, Lockdowns, and more, we are proud to say that we finished this year stronger, as a formidable force in the Global Fintech ecosystem. Niyo has been recognised in the top 250 fintechs across the globe, the only one from India. We were also selected as winners for the UK Fintech Council Awards in the Financial Inclusion category, for our groundbreaking Bharat product.

As we enter 2021, we’d like to share with you all some interesting statistics that tell Niyo’s story from 2020:

  • We onboarded 5.7 lakh customers across platforms. That’s like more than 1 customer added every minute!
  • ₹2850 Cr ($390 Mn) was the total money loaded using Niyo

We’re also glad to share that we met some important achievements and milestones in 2020:

  • Licenses earned
    • SEBI Registered Investment Advisor
    • Insurance Corporate Agency / Distributorship from IRDA
  • Certifications earned
    • ISO 27001
    • PCI DSS
    • Great Places to Work
  • Acquisition and integration of Goalwise (now Niyo Money)
  • Launch of Niyo Global Student Ambassador Program
  • Multiple awards and Citations
    • UK Fintech Council Awards (Financial Inclusion category)
    • NITI AYOG-AEGIS GRAHAM BELL AWARDS
    • AWS Startup Architecture Challenge
    • ET BFSI Innovation Tribe Awards 2020

We are going to begin 2021 with a bang! We’ll be launching new features and developments in all product lines this year, including the all-new Niyo Money app, loaded with some novel features to supercharge your investments!

Thank you all for being a part of the Niyo family and for joining us for important conversations right here on Niyo Community. We hope to keep answering your questions, receiving your feedback, and hearing your stories in a smarter, simpler and safer 2021.

Happy New Year to you all once again!

Regards,

Vinay and Viren

You guys have done a great job and offered a wonderful product, but of late the customer support service has deteriorated significantly, as is evident from the numerous posts on this forum.
Initially Niyo offered superb services, and if this lacuna can be tackled effectively, then the brand can regain its ever so slightly dwindling trust.
Just a minor feedback, but overall I stand by this amazing product and the niyo brand!
Keep up the good work. Cheers!

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I have been a fan of your Niyo Global card uptil now and app is very convenient. Highly recommended to all foreign travellers and you have got a good community here. Appreciated good work Niyo Team.

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Hey Justin! Your feedback means the world to us. We constantly strive to serve you better and we will ensure that we are meeting the set expectations from our customers towards meeting the goals. LK

Hey Himanshu! Thank you so much for your kind and encouraging words. We’re happy to hear we hit the mark for you! We’ll strive to continue the same excellence. LK

New Year Greetings to Niyo!

It would have been great if the customer care experience is flawless. If you go through the community more than 50% complaints are regarding poor customer care service.

Another important issue is with the serious bugs & glitches with App. It’s constantly heading up one by one.

Wish these two things are rectified at the earliest. All the best for 2021 :tada::confetti_ball:

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Niyo management should greatly focus on the minimal requirements of a client to complete his/her KYC to have complete control over the account.

Niyo should only allow creating new account when the client is residing at the serviceable locations or else its totally useless after doing transactions worth 1lac .

Hopefully, higher authorities in niyo understand this urgent concern of their loyal customers.

Hey @Ranadeep_Naskar, welcome to the Niyo community. Thank you so much for your valuable feedback. We will certainly forward it to the team for further implication in future. SR

We are waiting for remittance services from Niyo !

Hey @animesh.mudalgi, welcome back to the Niyo community! As of now we just provide you the DCB Remit platform from where you can transfer funds from any Indian bank account to a foreign bank account. Your feedback is duly noted and we will certailny keep you informed as and when we have the feature in our app as well. SR

When is the Video KYC option going to be launched?

Hey there! We will keep you informed if we are launch the feature in the near future. LK

Thanks for your encouraging words Himanshu, we hope to continue our quest to built useful and beautiful banking products. Cheers Vinay
Thanks for sharing your views, we have taken note and will address these concerns at the earliest. Regards
Hi Alan, thanks for your patience with us; second half has been challenging with TCS introduction on foreign spends and working out the service model with our partner banks. We are confident about sorting these out soon and getting back to our usual best in class service mode. Regards
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Hi Animesh, we hope to get the remittance service live by end of March '21. Cheers
Hi Justin, Thanks for your message and we have taken note on our service levels. Last few months have been challenging as expected with us being first movers into such a product. However, we are committed to maintain world class service on all our products and hope to make it happen as soon as possible. Thanks a lot for taking time out and writing to us. Regards
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Hi @Vinay_Bagri,

Thanks for your response. Looking forward for a fantastic service in 2021…

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