Speaking with us, Puneet Chopra, MSC’s Domain Leader- Digital Financial Services: Banks/Product Innovation, shares his views on business correspondent model in India and explains how interoperability of BC channels can enhance the confidence of stakeholders, such as the government, banks and BCNMs, in the system. Taking the conversation ahead, he observes the dichotomy of what is available to the mainstream consumers versus the poor and voices the pertinent question on everyone’s minds — Do the unbanked population really need interoperable services? Do they need services like their mainstream counterparts or peers?
Sighting MSC’s study findings, Puneet observes that there is a strong business case for banks and BCNMs in support of greater integration and interoperability, underlying usage of technology, better security that can be enabled through this channel and greater interoperability to benefit the end client.

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