Banks and Micro Finance Institutes (MFI’s)
i25 RMCS banking solution has been designed indigenously including hardware to provide branchless banking services. It is used by several large national banks, regional rural banks and micro finance institutions for financial inclusion activities.
- Business correspondent based branchless banking system at an affordable cost.
- Mobility for anywhere banking.
- Carrier agnostic connectivity.
- Identification through contact less smart cards.
- Biometric authentication.
- Voice guidance in local language and innovative applications beyond no frills accounts.
- Brings banking services at the door steps to the rural population.
- Ensure social inclusion of the marginalized population.
- Ensures that the funds allocated under various social schemes reach the rightful beneficiaries.
- Technology enabled scalability, transparency and accountability.
Financial Inclusion Activities – Scope
- ‘No Frills’ bank account opening which include digital form filling for account opening as per KYC norms
- Issuance of smartcard, activation of account in the card.
- Financial inclusion application on smartcard and handheld terminals.
- Smartcard personalization for the Bank.
- Smartcard management system and key management.
- Financial inclusion data centre & secure IT infrastructure.
- System operation and maintenance of the accounts.
- Continuous awareness and sensitization of banking products to the rural mass and penetration of banking in rural areas.
- Capacity building of Customer Service Points (CSP) under business correspondence model.