Blostem CEO Interview: 'We are the connection layer between banks and platforms'
Blostem CEO Sandeep Garg clarifies the company's positioning in India's embedded banking infrastructure market, focusing on regulated savings products.
Blostem defines its market as embedded banking infrastructure for regulated savings products in India, beginning with fixed deposits (FD).
According to CEO Sandeep Garg, Blostem is neither a consumer app nor a bank, but rather the technology connection layer between the two. The company provides a single API and SDK that allows Indian platforms to offer fully registered and insured deposits within their own user experience.
The strategy involves licensing Blostem's technology to trusted Indian platforms, enabling them to integrate banking services directly into their digital offerings. This approach aims to create a seamless deposit experience without requiring users to leave the platform or open a separate bank account.
Blostem seeks to broaden access to savings and deposit products for a wider Indian consumer base by leveraging the customer networks of existing digital service providers.