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Saral Dhan / Eazy Money

Saral Dhan / Eazy Money. Category: e-Business & Financial Inclusion. Saral Dhan : The Indian context. Millions of Indians do not possess access to Basic Banking Services. 135 million financially excluded households – 2 nd highest in the world

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Saral Dhan / Eazy Money

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  1. SaralDhan/ Eazy Money Category: e-Business & Financial Inclusion

  2. SaralDhan: The Indian context Millions of Indians do not possess access to Basic Banking Services 135 million financially excluded households – 2nd highest in the world 627 districts - 80% financially underserved There was only one bank branch per 14,000 people. Only 9 % have credit accounts with banks. Only a little less than 20% of the population has any kind of life insurance 9.6% of the population has non‐life insurance coverage. 18% had debit cards and less than 2% had credit cards.

  3. SaralDhan - Collaborative efforts required to solve the barriers Bank branches too far High Infrastructure Cost Lack of Trust Scattered Population Too Expensive Security Concerns Lack of necessary documentations Communication Problem

  4. SaralDhan – Solution Overview Merchant/Agent Interface PRINTER SMART CARD READER BIOMETRICS CanvasM Enrollment Mobile Recharge Cash Transactions (withdrawal / deposit) Insurance Products Funds Transfer Financial Services VAS Services Merchant Payments Micro Loans Air Ticketing Overdraft SaralDhan Platform From plain vanilla Branchless Banking to VALUE ADDED Branchless Banking

  5. SaralDhan - High Level Schematic 2. Agent captures the fingerprints and digitizes the form information through the FI application on the POS. This information is transmitted to the back-end platform 1. Consumer Provides Identity documents and fills up Account Opening Form (assisted by Agent) Saral “Dhan” Platform 6. The consumer can now initiate Agent assisted financial transactions – Cash Withdrawal/Deposit/Transfers NREGA Systems The information is validated by Bank/BC officials and a no-frills account is opened on the platform A personalized smart-card is issued to the consumer via Bank/BC Bank CBS Utility VAS Services 5. The consumer is provided with the personalized smart card which contains his biometrics and other account related information Micro Insurance Mobile Recharge Overdrafts Loans DTH Recharge Customizable to specific Agent Network/Bank Business Processes

  6. Technology Bridging the Gap Innovative Value Added Branchless Banking Solutions – SaralDhan Consumers Retail Service Providers Benefits to the Consumer

  7. Delivering value in Banking – Benefits to the Bank $250,000 $50,000 $10,000 $500 Reducing Cost $50 Cashless Traditional branch Branch in store ATM Agent with POS terminal Agent with mobile No agent Increased Revenue Value Added Banking Solutions • New Revenue streams for Banks (money transfer services, retail services and branchless banking services) • Extra Income for the Agents • Bundled up services for the consumer – Up Selling Current Banking Solutions

  8. Solution already deployed with Leading Banks in India and Africa • India • 500+ Agents and over 0.5 million Consumerson-board in the first 3 Months of Launch and equipped with POS (agents) and Smart Card Linked No-Frill Accounts (Consumers) Actual Pictures • Nigeria • Integration, deployment complete and Pilot launch rolled out. 200+ Expected Agents and 300K+ projected enrolments in the first 3 months Well tested and deployed solution, going across developing and under developed geographies.

  9. Where does this take us? Cashless Economy Tap and Pay OTC Payments Mobile Wallets Government Subsidiaries Disbursement Digital Retail Services

  10. THANK YOU Vishal Kumar Tech Mahindra Vishal.kumar5@techmahindra.com +91 9899023777

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