Our key motivation for this project was to increase access to financial services, especially among women, by harnessing the growing presence of mobile phones in rural India and technological developments in digital financial services.” ChandniOhri, CEO, Grameen Foundation stated, “We are honoured to receive the prestigious NASSCOM Social Innovation Award.
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Other institutions are also looking to replicate the model.Ĭommenting on the occasion, Ms. The model is now being scaled to 150 branches to several lakh clients of Sonata. The pilot phase reached out to over 23,222 beneficiaries in training them on mobile financial services and enabled transactions worth INR 1.5 cr have been routed through Oxigen. The new model enables clients to make loan repayments via digital channels and at agent locations. Ltd., a leading Indian microfinance institution, and Oxigen, a payment provider to develop a digital payment platform for Sonata’s clients. In partnership with Citi Foundation, GFI has worked with Sonata Finance Pvt. As part of the Advisory Support from Accenture Tech Labs, GFI will receive valuable technology advisory for further development and enhancement of theirsolution such that it leads to increased sustainability, scalability and on ground impact. Our project, ‘Integrating Mobile Financial Education and Services for Financial Inclusion in India,’ is enabling microfinance clients to use digital payment channelsto repay their microloans. GFI was awarded under ‘Other Social Issues’ category for its work to integrate mobile financial education and services in India.
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The award includes complimentary advisory support from Accenture Tech Labs. The company’s financial inclusion project, ‘Integrating Mobile Financial Education and Services for Financial Inclusion in India’ wins the coveted award in the ‘Other Social Issues’ category,for providing mobile banking services and financial education to women borrowers in rural areasįebruary 22 nd, New Delhi – Grameen Foundation (GFI) has been awarded the NASSCOM Social Innovation Forum (NSIF) Challenge 2017.