Eko India's Financial Inclusion Initiative


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Case Details:

Case Code : FINC060
Case Length : 18 Pages
Period : 2007-09
Pub. Date : 2009
Teaching Note :Not Available
Organization : Eko India Financial Services Private Limited
Industry : Banking and Financial Services
Countries : India

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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"Banking the unbanked has been seen as an experiment - everyone knows there is a huge opportunity - but banks have been tentative. The depth of existing profit pools makes expansion into tough regions less desirable. Existing products are too expensive for consumers and investing in new products, new distribution networks and new organisation models is expensive, time-intensive, and requires top skills and intellect." 1

- J. Nick Geimer, Director of Consulting and Analytics, PIC Solutions2.

"There are over one billion people in emerging markets today who don't have a bank account but do have a mobile phone." 3

- Rob Conway, CEO, GSM Association4, March 2009.

Introduction

On November 04, 2008, Bill Gates, Chairman of Microsoft, visited and spent a couple of hours at a tech start-up firm, Eko India Financial Services Private Limited (Eko) in a suburb in New Delhi5, India, and collected information about the progress of Eko's project.

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1] "Banking the Unbanked," www.consultingweb.com, September 12, 2008.
2] PIC Solutions was one of the leading credit risk solutions company in the EMEA region.
3] Yanni Hao, "Gates Grants $ 12.5 m to Mobile Phone Association GSMA for Mobile Banking," www.microcapital.org, March 02, 2009.
4] GSM Association (GSMA) represents the interests of the worldwide mobile communication industry. Spanning 219 countries, the GSMA unites more than 750 of the world's mobile operators, as well as 200 companies in the broader mobile ecosystem, including handset makers, software companies, equipment providers, Internet companies, and media and entertainment organisations. The GSMA is focused on innovating, incubating and creating new opportunities for its membership, all with the end goal of driving the growth of the mobile communications industry.
5] New Delhi is the capital city of India.


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