fininclusion_techdecppt：fininclusion_techdec.pptVIP

JAIPUR 16 DEC 08 TECHNOLOGY FOR FINANCIAL INCLUSION Indian Institute of Banking Finance N D RAO TECHNOLOGY FOR FINANCIAL INCLUSION Why do we need to talk about it Extremely large target population Current Banking systems service merely 33% of total population Customer profile different Very low Literacy levels and Awareness Business Processes need re-engineering Existing processes can not produce desired results Independent Delivery Agencies Deployment of Business Correspondents/ Facilitators Latest trends in Technology Cost-effective state-of-the-art technologies are available today TECHNOLOGY FOR FINANCIAL INCLUSION Profile of Financial Inclusion Technology Capture Customer details and facilitate Unique Identification Provide non-repudiable and user-friendly authentication mechanism Ensure reliable connectivity upto the last mile Offer Financial products tailored for the target group Support comprehensive Credit Information System Support use of multimedia and innovative User Interfaces Work in rural environmental conditions Low Capital and Maintenance costs TECHNOLOGY FOR FINANCIAL INCLUSION Financial Inclusion Processes CUSTOMER ACQUISITION Identification Enrolment Account Opening BANKING TRANSACTIONS Cash Deposit Cash Withdrawal Government Benefits/ Payments Transfers Remittances Micro Finance NON-BANKING TRANSACTIONS Micro Insurance Investments Value-added Services TECHNOLOGY FOR FINANCIAL INCLUSION Card Based Identification Why Cards? Choice of Cards Magstripe Card Contact Smart Card Contactless Smart Card Plain PVC Card Plain Laminated Card TECHNOLOGY FOR FINANCIAL INCLUSION Card Based Identification MAGSTRIPE CARD Data laid out on a magnetic strip at the back of the card in three tracks. A magnetic stripe card may have any of these tracks, or a combination of these tracks. Track 3 is used for financial transactions. ISO Standards are used for encoding the data in the tracks. Approximate Cost Rs10 - Rs15 TECHNOL