ChitFunds 2.0, is an extension of the previous product that was designed for chit fund companies. Along with taking care of a chit fund company's complete digitisation needs, ChitFunds 2.0 also brings other entities such as banks and financial institutions onto the platform in order to serve the chit fund firms. ChitPe, is an online collection platform wherein chit fund companies and customers can
pay their dues and keep track of their payments in a simple and hassle-free manner using Internet Banking, Debit card and UPI through the platform. ChitInsure, the latest launch by ChitMonks, is a first of its kind Insurance product specially designed to protect the subscribers of registered Chit Fund companies. It offers two products, one helps the companies in providing additional security for new subscriptions, while the other is specially designed to protect the future liabilities of the subscribers. ChitMonks ecosystem stands for three things: Trust, Efficiency and Inclusion. In 2018, ChitMonks was identified as the Most Innovative Blockchain Startup by the state of Telangana. In Feb 2020, ChitMonks was awarded Gold, at National level for implementing emerging technologies such as blockchain to bring trust in the administrative process of Chit fund operations.
