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Banks strategies @ doms


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Banks strategies @ doms

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Banks strategies @ doms

  1. 1. Banks Strategies for Financial Inclusion
  2. 2. Agenda for Discussion <ul><li>Typical Challenges in Financial Inclusion </li></ul><ul><li>Support from Micro Finance & Self Help Groups </li></ul><ul><li>Information Communication & Technology </li></ul><ul><li>Mobile Banking </li></ul><ul><li>Biometrics ATMs </li></ul><ul><li>Rural Employment Opportunities </li></ul>
  3. 3. Challenges of Financial Inclusion <ul><li>Illiteracy </li></ul><ul><li>Remote Locations </li></ul><ul><li>Cost of servicing small sized transactions </li></ul><ul><li>Telecommunication </li></ul><ul><li>Reach of Technology </li></ul>
  4. 4. Micro Finance & Self Help Groups <ul><ul><li>Reach remote unbanked areas/non branch locations through SHG Lending Programme </li></ul></ul><ul><ul><li>SHG Clients being serviced with Loan & Savings Products </li></ul></ul><ul><ul><li>Door step banking (disbursement of loans and collection of installments) to all the SHGs using Service Providers (SP) as our Business Correspondents. </li></ul></ul>
  5. 5. Information Communication & Technology <ul><li>Cash Terminals – Card based transactions </li></ul><ul><ul><li>Hub and spoke model with co-operative banks </li></ul></ul><ul><ul><li>Cash Deposit and withdrawals </li></ul></ul><ul><ul><li>PIN based cards </li></ul></ul><ul><li>Hand Held Devices – Biometrics enabled </li></ul><ul><ul><li>Offline devices for remote locations </li></ul></ul><ul><ul><li>Biometrics for customer authentication </li></ul></ul><ul><ul><li>Transactions record on the spot </li></ul></ul>
  6. 6. Mobile Banking – Catalyst for Microfinance <ul><li>Current Usage </li></ul><ul><ul><li>Currently only for A/C Related Enquiry </li></ul></ul><ul><ul><li>Use of Mobile Phones for Financial Transactions </li></ul></ul><ul><li>Opportunities - Microfinance </li></ul><ul><li>Exploration with Technology Partners </li></ul><ul><li>Funds Transfer using Mobile Phones – SMS Based </li></ul><ul><li>Mobile to Mobile funds transfer ( Futuristic ) </li></ul><ul><li>Stringent KYC norms of Telecom cos. to be leveraged </li></ul><ul><li>Challenges </li></ul><ul><li>Security on mobile devices </li></ul><ul><li>Transaction encryption </li></ul>
  7. 7. Biometric ATMs <ul><li>ATMs with Biometric solution </li></ul><ul><li>Biometrics as authentication mechanism </li></ul><ul><li>Illustrative ATM screens for illiterate customers </li></ul><ul><li>Challenges </li></ul><ul><ul><li>ATMs efficiency and maintenance in Rural conditions </li></ul></ul><ul><ul><li>Biometrics efficiency in Rural condition </li></ul></ul>
  8. 8. Rural BPOs <ul><ul><li>Migration of non-core image based activities to Rural BPOs to create employment opportunities to rural youths. </li></ul></ul><ul><ul><li>Enable rural youths to gainfully use their education in their own environment. </li></ul></ul><ul><ul><li>Reduce rural youth’s migration to crowded cities causing frustration caused by infrastructural inadequacies there. </li></ul></ul><ul><ul><li>Contribute to rural development enabling educated youth to support their family business in their spare time. </li></ul></ul><ul><ul><li>Extra income enables Rural youths live a life of dignity and escape clutches of economic poverty. </li></ul></ul>
  9. 9. Opportunities <ul><li>Improved Communications </li></ul><ul><li>Technology reaching out to the Rural Areas. </li></ul><ul><li>Huge Business Opportunities </li></ul><ul><li>Stickiness of Rural Customers </li></ul><ul><li>Mass Banking – Very Large volumes </li></ul><ul><li>Low Establishment Cost </li></ul>
  10. 10. Thank You