In this video series-2, Pancho Otero – the founding CEO of the Prodem Foundation, one of the global industry pioneers, explains how financial crisis will help microfinance institutions and their client. He shares his perspective on the importance of the enabling good legal environment and regulations to help produce mature microfinance institutions. Pancho sees the lack of effective regulatory system a major challenge to set up a successful microfinance industry because authorities are unlikely to support a programme unless it is thriving. In such a situation, a well connected institution with enough liquidity and strong management team is conducive for successful MFI.
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Financial Inclusion Through Digital Financial Services
This presentation focuses on the need and enablers of financial inclusion, business models and the challenges and lessons learnt while trying to develop a robust and effective strategy from the outset.
Leveraging Unique Identification (UID) for Mobile Banking in India
Among various expected benefits of the Unique Identification (UID) card, one is supporting the financial inclusion agenda in India – by providing everyone with a UID card linked to a mobile phone number, and/or linked to a bank account. Financial inclusion has many hurdles in India, but the two of the most troubling of them to regulators and customers are: 1) authentication of individuals without a fixed address or formal documentation; and 2) secure access to banking services in remote areas. This Note takes a closer look at how UID can make m-banking more accessible in India. It concludes that UID can play a big role in proliferation of m-banking and financial inclusion in India. The success (or failure) of the UID will lie in its ability to provide a secure, safe and accessible platform for m-banking on the basis of its identity database.
Insights from a Microfinance Pioneer BancoSol 1
In this video series-1, MicroSave talks to one of the pioneers of microfinance in Bolivia, Pancho Otero – the founding CEO of the Prodem Foundation, the nucleus of BancoSol. Pancho gives his insights on the success of microfinance in Bolivia and how Prodem became a bank and a leader in savings mobilisation. Through BancoSol, Pancho has helped create one of the most successful microfinance institutions in the world. Pancho attributes BancoSol’s success to the self-examining and self-critical attitude at the pilot stage, which helped them to identify the loopholes early and fix them immediately.
UID and Financial Inclusion – Solution or Not?
The objective of this Note is to share some initial insights on UID with financial service providers and other stakeholders, to help them leverage this new development and support/catalyse financial inclusion in India. It analyses the potential benefits of UID for financial inclusion as well as its potential risks. The Note concludes that the combination of UID, mobile and bank account numbers could truly enhance financial inclusion.
“SBI Tatkal” – From Cash to Cash Cow
What Maggi is to Nestle, Lifebuoy is to HUL, Alto is to Maruti and Horlicks is to GSK, perhaps “Tatkal” is to Eko. Ever since this direct deposit product was launched in August 2010 by Eko, it has emerged as the flagship product for this Delhi based business correspondent (BC) and technical service provider (TSP), providing technology for m-banking and agent based financial inclusion services.