Australian Fintech Ziksu Partners With Elanistech To Address The Rs 55,000 Cr Student Market

Australian fintech Ziksu, has partnered with Elanistech, an Indian fintech company that offers innovative financial services solutions tailored exclusively to Indian students pursuing higher education abroad, specifically in Australia. The partnership between Ziksu and Elanistech is set to launch a fintech platform for Indian students, studying in Australia, offering comprehensive financial solutions and a unified platform designed specifically for their needs.

The fintech platform will address this niche segment of student financing, where the average total value of student’s loan underwritten per year was in the region of Aus$ 3.2bn (approx. Rs. 17,700 Crores), the strategic collaboration will enhance the financial journey for students and their families. Additionally, affiliated industry stakeholders, like Education Consultants and University Administrators, will benefit from the innovative fintech solutions of offer, providing simplified, faster digital transaction processing. Indians are the largest migrant group to Australia totalling over 10,00,000 in number, with total remittances to-and-fro, Australia valued at around US$ 7 bn. 

Propelled by changes in regulations, governance of the Fintech Industry and technological advancements, Ziksu’s primary objective was to deliver a financial platform tailored to the needs of Australian merchants, business and personal customers, utilising QR-codes to evolve the 40-year legacy of Australia’s payments landscape. Connected to Australia’s New Payments Platform (NPP), powered by PayID and PayTo technology, Ziksu capitalises on the global trend toward QR-based transactions, empowering younger users and those who value simplicity and affordable financial interactions.  

The ‘Scan n Pay’ mobile-only, digital, payments platform has brought about a paradigm shift in Australian consumers and business transactions ensuring every Australian has complete control of their own money, by facilitating instant and secure transaction settlements through simple QR code scans.
Students can effortlessly manage their pre-departure and post-departure finances for India and Australia, all done through seamless KYC process. The platform will roll-out future products in forex remittances with competitive rates for both inward and outward transfers and other non-banking products for a student living in Australia. Additionally, pre-departure accounts ensure students are financially prepared before their arrival in Australia, facilitating a smoother transition. Parents gain improved visibility into their children’s financial health, making it easier to monitor their academic journey.