- When (what no of customers / what savings balance) does the breakeven happen for EKO(Private Limited), The Business Correspondent and the Bank, respectively?
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Featured Commentator
Ashoka's Changemakers
Changing the infrastructure of mobile banking is a strong and innovative idea for social impact, especially given the maturing market for mobile technology. What are some other barriers that prevent people from opening savings accounts? How have you factored these potential barriers into your plan?
Another entry, CAM—Mobile Enabled SHG Microfinance Management System, is also utilizing a mobile banking technique. We encourage you to connect with them: http://www.changemakers.net/en-us/node/9415
Since the judges spend more time reading the entry form than the comments, please also update your entry in addition to responding to our questions and other comments. This will provide the panel of expert judges with the most comprehensive explanation.
On November 3, 2008, the judges reviewed the entries for the Changemakers “Banking on Social Change: Seeking Financial Solutions for All” competition and would like to pass on the following feedback (listed below) for your entry. Thank you for applying and for your hard work in the field. We are excited to archive your entry to serve as a leading solution for the worldwide community of innovators who are seeking solutions that allow financial security to become a reality for everyone. We wish you continued luck with your sustainable, innovative, and socially impactful initiatives.
All the best, The Changemakers Team
“Mobile banking is a well established concept in the field of microfinance. This project is interesting, and I’d like to know more details about the rate and cost of customer acquisition for Meri Financial Azadi. I think these two pieces will provide a strong indicator of the level of innovation and sustainability of the initiative.”
- Changemakers “Banking on Social Change: Seeking Financial Solutions for All” Judges: Citi, The Times of India, Nokia, Soros Fund Management LLC, PlaNet Finance.
Comments
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Featured Commentator
Ashoka's Changemakers
- When (what no of customers / what savings balance) does the breakeven happen for EKO(Private Limited), The Business Correspondent and the Bank, respectively?
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Featured Commentator
Ashoka's Changemakers
Dear Mansi,
Thank you for submitting your entry!
Changing the infrastructure of mobile banking is a strong and innovative idea for social impact, especially given the maturing market for mobile technology. What are some other barriers that prevent people from opening savings accounts? How have you factored these potential barriers into your plan?
Another entry, CAM—Mobile Enabled SHG Microfinance Management System, is also utilizing a mobile banking technique. We encourage you to connect with them: http://www.changemakers.net/en-us/node/9415
Since the judges spend more time reading the entry form than the comments, please also update your entry in addition to responding to our questions and other comments. This will provide the panel of expert judges with the most comprehensive explanation.
Thanks so much! We look forward to learning more.
Best wishes,
The Changemakers Team
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Kaylena Bray
Ashoka's Changemakers
Dear Mansi,
Greetings from Team SIGMA, XLRI !!!
Congratulations on your initiative and efforts. Your model looks to be really fascinating and having a huge potential.
Here are some comments on your business plan:
1. Since your technology works in relation with money transactions. How safe is your technology against hackers?
2. Please explain all the services that could be provided through mobile apart from money deposits and money transfer.
3. Please provide the financial analysis of the whole plan.
Best Wishes,
Chandresh Jain
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University Ambassador,
SIGMA - XLRI, India
Dear Mansi,
On November 3, 2008, the judges reviewed the entries for the Changemakers “Banking on Social Change: Seeking Financial Solutions for All” competition and would like to pass on the following feedback (listed below) for your entry. Thank you for applying and for your hard work in the field. We are excited to archive your entry to serve as a leading solution for the worldwide community of innovators who are seeking solutions that allow financial security to become a reality for everyone. We wish you continued luck with your sustainable, innovative, and socially impactful initiatives.
All the best, The Changemakers Team
“Mobile banking is a well established concept in the field of microfinance. This project is interesting, and I’d like to know more details about the rate and cost of customer acquisition for Meri Financial Azadi. I think these two pieces will provide a strong indicator of the level of innovation and sustainability of the initiative.”
- Changemakers “Banking on Social Change: Seeking Financial Solutions for All” Judges: Citi, The Times of India, Nokia, Soros Fund Management LLC, PlaNet Finance.
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Kaylena Bray
Ashoka's Changemakers
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