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Eko Demo
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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
© Eko, 2008
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