EKO. SIMPLIBANK

“Reaching the unreached”

Anupam Varghese. December 2008

© Eko, 2008

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

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

Customer interaction

© Eko, 2008

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

Transaction dialed in

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Response

• USSD instant response to debited party

• SMS response to both

© Eko, 2008

Bill Gates at Uttam Nagar

© Eko, 2008

THANK YOUWWW.EKO.CO.IN

© Eko, 2008