Democratizing financial access ⁄abhinav. Retailer as a service.

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Presentation transcript:

Democratizing financial access ⁄abhinav

Retailer as a service

Challenge: UX ⁄Literacy ⁄Language ⁄Device ⁄Access ⁄Time and motion

Solution ⁄Number dialing based secure transaction interface

⁄Missed call ⁄Only numbers ⁄Works on ULCH ⁄Low-cost Digitization of transaction * 543* * 999*1620 # BENEFICIARYAMOUNTAUTHENTICATION

Digitization of signature V2 | Paper equivalent to RSA device + PIN | Only Numbers | Low cost | Innovation PIN OkeKey *543* *999*1620# Beneficiary’s Mobile No Amount ‘Signature’ ⁄Paper equivalent to RSA device + PIN ⁄Low-cost strong 2FA solution

Deposit | Withdraw | P2P Money Transfer | Tatkal Deposit using Mobile

Over Rs crore handled by Eko SimpliBank till date. More mobile initiated transactions handled by Eko than most other mobile banking initiatives in India! Key figures

Other initiatives NEFT IMPS RD/ FD Card based products

“Eko is an example of a supreme garage innovation! If you thought the rate of change was fast thanks to the garage innovators of Silicon Valley, wait until the garages of Delhi, Mumbai and Bangalore get fully up to speed. I sure hope we’re ready –NYT” - Tom Friedman Visited Eko – Oct 2010