According to the World Bank, today, more than 50 percent of humanity is financially excluded and over one billion people live below the poverty line of US$1.25 a day (2007).
Financial Inclusion is about creating financial systems that support all people, so they can create their own wealth and better manage their funds. To succeed it is key that financial services are delivered via a secure, convenient, reliable and affordable micro banking channel which provides:
- Easy access to products such as no-frills accounts, micro-insurance, government benefits
- A timely way to make repayments for micro-loans or micro-credit
- The ability to make small savings
Self-service technologies provide the most effective way to achieve financial inclusion. They are sustainable, scalable and can offer multiple products and services from the same platform/device in a way that is cost-effective accessible.
NCR has been focusing on optimizing self-service technologies and developing new solution and channel partnerships to specifically address the market requirements of the millions of financial excluded consumers globally. These proven technologies enable businesses to better serve their customers how, when, and where they choose across points of service, mobile and online channels. NCR's portfolio of solutions delivers:
- Higher availability and accessibility of financial services
- An affordable platform for the delivery of multiple financial products
- Greater awareness and "ease of use" for those accessing financial services, designed to help overcome financial illiteracy.
NCR is proud to be working in this space, supporting our customers in making a lasting change to society.
Financial Inclusion in India - NCR-FINO partnership
The NCR EasyPoint™ 70 Tijori has been deployed in India and is already delivering financial services to the thousands of previously underserved customers. The EasyPoint 70 Tijori leverages FINO’s smart card technology and has been designed to supplement and complement the existing business correspondent model in India by automating the collection and disbursement of loans releasing agents to focus on high value sales and services.
NCR EasyPoint 70 Tijori:
- Delivers convenient access for the under- / unbanked population to a broad range of financial products and services
- Provides a multi-purpose technology solution that can manage not only savings, but loans, insurance, and remittances
- Automates and streamlines the daily process of record/ data entry and retrieval
- Drastically reduces transactional, operational and card acceptance infrastructure cost
- Captures, manages and analyzes client and transaction data
To learn more about NCR’s Financial Inclusion solution for India please see the Easypoint 70 Tijori product datasheet and a major research study into the Financial Inclusion market commissioned by NCR with Frost & Sullivan Inc.