The famous private bank, DCB Bank has synergized and collaborated with India’s first money management app linked to a VISA Card – Slonkit, to create a digital and cashless ecosystem for educational institutions across India. Slonkit, under the Slonkit Campus Partnership Programme (SCPP) has partnership with colleges from all major Indian cities and towns. Through this collaboration, students are now empowered with a Slonkit VISA Card, linked to the Slonkit mobile app. This card can be used anywhere in India, be it merchant outlets or online transaction, and students can pay their college fees or any miscellaneous payments using the Slonkit Card. The Slonkit Card also offers exciting discounts and gifts at national and hyperlocal merchant outlets.

Students will also be able to plan their budget accordingly and track/analyse their expenses across categories like food, travel, shopping, entertainment, etc. In addition to empowering students to practice money management, Slonkit also transforms colleges digitally and facilitates seamless management of the administrative function. Slonkit also allows colleges to monitor the expenses at in-campus merchants. On the occasion of this development, the Head of Retail and SME Banking of DCB, Praveen Kutty said, “Financial prudence is a means to enjoy a good lifestyle, and it is important to inculcate this habit at a young age. We allow teenagers and young adults to practice smart money management and financial prudence. Allying with educational institutions will drive adoption of this nifty digital and cashless payments solution for individuals and institutions as well.” 

Talking about their partnership, Javed Tapia, Founder, Slonkit, said, “We cater to the essential yet unaddressed area of teaching financial prudence to the students, engage them digitally and empower them to learn and practice smart money management. The Slonkit application also enables education institutios to seamlessly manage fee collection, in-campus payments, track attendance as the cards are RFID enabled, and communicate with students.  We, along with DCB Bank, are set to create India’s largest cashless environment, solely focused on the education sector.”