Australian fintech company Ziksu has partnered with Indian fintech company Elanistech, which offers innovative financial services solutions designed exclusively for Indian students pursuing higher education abroad, specifically in Australia.
The partnership between Ziksu and Elanistech aims to launch a fintech platform for Indian students studying in Australia, offering comprehensive financial solutions and a unified platform tailored specifically to their needs.
Launch event in New Delhi
The launch event was held at the Australian High Commission in New Delhi. Speaking at the event, Dr Monica Kennedy, Senior Trade and Investment Commissioner for South Asia at the Australian Trade and Investment Commission (Austrade), said, “Australia’s Ziksu’s partnership with India’s Elanistech and IDFC First Bank Limited is a great example of how Australian technology is helping India seamlessly connect sectors such as education and financial services. Austrade is proud to support Ziksu and other Australian fintech companies to partner for prosperity in India’s vibrant innovation landscape, while facilitating technology collaboration between the two countries.”
Karthik Srinivasan, Founder and CTO of Ziksu, said, “We are delighted to introduce a best-in-class fintech offering to Indian students seeking educational opportunities in Australia. We aim to streamline the entire financial value chain from pre-admission to post-admission, leveraging our world-class technology infrastructure, to tap into the $55 billion student market in India.”
Addressing the niche of the student financing segment
The fintech platform will address this niche segment of student finance, where the average total value of student loans underwritten per year was around AUS$ 3.2 billion (roughly Rs 17,700 crore); the strategic collaboration will improve the financial journey of students and their families.
Additionally, affiliate industry stakeholders such as educational consultants and university administrators will benefit from the innovative fintech solutions on offer, providing faster and simplified digital transaction processing.
Indians are the largest migrant group in Australia, numbering over 10 lakhs, with total remittances to and from Australia valued at around US$7 billion.
Designed for Australian traders
Driven by changes in regulations, Fintech industry governance and technological advancements, Ziksu’s primary goal was to offer a financial platform tailored to the needs of Australian merchants, businesses and personal customers, using QR codes to build on the 40-year legacy of Australia’s payments landscape.
Connected to Australia’s New Payments Platform (NPP), powered by PayID and PayTo technology, Ziksu taps into the global trend towards QR-based transactions, empowering younger users and those who value simplicity and affordable financial interactions.
“With a clear vision to address the unique financial needs and challenges faced by the niche customer segment, Elanistech aims to provide seamless, secure and convenient solutions, positioning itself as a leader in this burgeoning market. Dedicated to providing a one-stop financial platform focused on Indian students studying abroad, Elanistech is committed to supporting the financial well-being of prospective international students. Hence, one of the primary objectives is to create a sort of roadmap with this digital ecosystem where students know exactly how much they will be spending, with endpoints verified at the destinations where they are going to study,” said Padmanabhan Desikachari, Technical Advisor, Elanistech.
The mobile-only digital payments platform, ‘Scan n Pay’ has created a paradigm shift in Australian consumer and business transactions, ensuring every Australian has full control over their own money, by facilitating instant and secure transaction settlements through simple QR code scans.
Elanistech’s solutions will include accelerated loan application processing in conjunction with its partner IDFC FIRST BANK Limited, enabling customized loan options for students and their families.
The company enhances the financial experience of Indian international students and their families by providing a seamless onboarding process and ensuring access to essential funds through favorable partners and exchange rates, making their study abroad experience financially secure and efficient.
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