MUMBAI, India, March 13 -- Intellectual Property India has published a patent application (202621010503 A) filed by Dr. Leena Nair; Gawde Vijay Maruti Subhadra; Mikhail Pravir Chopra; and Santosh Guruprasad Gupta, Maharashtra, on Feb. 1, for 'financial inclusion through digital banking in developing economies.'
Inventor(s) include Dr. Leena Nair; Gawde Vijay Maruti Subhadra; Mikhail Pravir Chopra; and Santosh Guruprasad Gupta.
The application for the patent was published on March 13, under issue no. 11/2026.
According to the abstract released by the Intellectual Property India: "The present invention relates to a system and method for enabling financial inclusion through digital banking in developing economies. The invention provides a secure and scalable digital banking platform that allows unbanked and underbanked individuals to access formal financial services through digital devices. The system supports simplified user onboarding using alternative identity verification mechanisms suitable for low documentation environments. It enables digital transactions, savings, remittances, and access to micro credit under limited or intermittent connectivity conditions. The invention further incorporates alternative data analytics to generate financial profiles and assess creditworthiness for users lacking formal credit histories. Interoperability with banks, fintech platforms, microfinance institutions, and government systems is supported to ensure seamless financial service delivery. The platform enhances accessibility, security, and regulatory compliance, thereby promoting inclusive participation in the formal financial ecosystem within developing economies."
Disclaimer: Curated by HT Syndication.
