1 / 10

100% Financial Inclusion is a stated goal

100% Financial Inclusion is a stated goal. - Telcos can be the biggest catalysts to achieve that. Hard facts about Soft Issues . More experience in serving targeted customers Mobility penetration in non urban areas is higher and growing fast Huge investment in brand

bethesda
Download Presentation

100% Financial Inclusion is a stated goal

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 100% Financial Inclusion is a stated goal - Telcos can be the biggest catalysts to achieve that

  2. Hard facts about Soft Issues • More experience in serving targeted customers • Mobility penetration in non urban areas is higher and growing fast • Huge investment in brand • focus on high quality and integrity of service delivery • Soft investment is more important • Customer training and education • Channel Management • Familiarity of operating in a regulated environment • KYC and QOS as per regulation • Mobile technology is secure and accessible • High levels of privacy/security at low cost of entry

  3. Mobile subscribers growth pattern Source: RBI 2006, COAI Data interpreted

  4. Telco outreach Source: National Census, RBI, COAI Estimates, Figures in 000s

  5. High stakes for a Telco • Invest large sums in developing brand • Invest large sums in deploying technology • Established financial strength and stability • Large existing customer bases Telcos have attained Customer trust

  6. Unique Bank-TelCo partnership • Best of both worlds • TelCo’s existing relationship with customer • TelCo’s knowhow on customer handling • TelCo’s knowhow on customer education & service • Bank’s knowhow on Banking regulation, best practices & AML • Bank’s knowhow on Cash Management • Cost optimization for banks • Less viability for banks to run accounts with < Rs. 5,000 AQB • Ride the TelCo’s channel to achieve reach • Using customer history for future product offerings. E.g. microfinance loans

  7. Customer registration & access Assist in KYC Acceleration of Penetration Customer Care Distribution & Outreach Technology Solutions Creating usage avenues Open Accounts Implement AML & KYC guidelines Customer grievance guidelines Custodian of customer monies Best banking practices Interest payments Offer range of Banking products Redefining roles – Enable Financial Inclusion TelCo Bank Equal partners – balanced roles

  8. Regulation – consultative approach • Proportionality • Risk-based approach • Mobile experience • As different to traditional approach • Innovation • Innovative services may not fit well within existing regulation categories Guiding principle - Customer security and benefit

  9. Benefits of Success Customer • Economic independence • Preserves Confidentiality • Greater Convenience • Transaction speed Regulator • Achieving Financial Inclusion objectives faster • Maintaining Control Economy • Extends economic inclusion to rural poor • Starts rural people on the ladder of banking • Reduces urban rural divide TelCo • Additional revenue stream • Customer stickiness Bank • Increases reach at viable cost – network benefits • Additional revenue streams • Lower costs

  10. Thank you

More Related