Eko Demo

1. EKO. SIMPLIBANK
“Reaching the unreached”
Anupam Varghese. December 2008
© Eko, 2008

2. Opportunity
• 70% of India is still ‘unbanked’
– Last mile access
– Convenience, availability
– Turn-around-time
– High costs for customers and banks
• Robust and growing telecom infrastructure
© Eko, 2008

3. Solution
• Extremely low cost of transaction and servicing
• High touch
– Business Correspondents
• High Technology
– Simplified mBanking
• Cash-in and cash-out at neighborhood shop
• Instant account updates
© Eko, 2008

4. Customer interaction
© Eko, 2008

5. Transaction
• There is only ONE cash transaction
– The DEBIT transaction
– All transactions are simply dialing of numbers
– All transactions are real-time
• Signature
– 6 digit OTP (One Time Password) interleaved with
– 4 blanks (placeholders) for customer’s PIN
– Eg: 1_04_3__03
• Transaction syntax:
– *Short Code*Beneficiary’s A/c (mobile) number*Amount*Signature
with PIN#
• Example:
– *543*98191444643*500*3453277810#
© Eko, 2008

6. Transaction dialed in
© Eko, 2008

7. Response
• USSD instant response to debited party
• SMS response to both
© Eko, 2008

8. Bill Gates at Uttam Nagar
© Eko, 2008

9. THANK YOU
WWW.EKO.CO.IN
© Eko, 2008