Banking without Barriers
Let the bankers FEEL!
About You
Location
Project Street Address
Project City
Project Province/State
Project Postal/Zip Code
Project Country
Your idea
Year initiative/program began:
2008
Field of work
Banking/Financial Services
If Field of Work is "Other" please define in 1-2 words below (and explain in detail in the entry form):
Service / Activity focus (If "other" please explain in entry form)
Delivery Method
Year organization founded (yyyy)
2007
YouTube Upload
Project URL
Positioning of your initiative on the Mosaic of Solutions™ diagram:
Which of these barriers is the primary focus of your work?
Non-affluent are not valued customers
Which of the principles is the primary focus of your work?
Lower the entry threshold
If you believe some other barrier or principle should be included in the mosaic, please describe it and how it would affect the positioning of your initiative in the mosaic
This field has not been completed. (333 words or less)
Name Your Project
Banking without Barriers
Describe Your Idea
Let the bankers FEEL!
Innovation
What is your signature innovation, your new idea, in one sentence?
Let the bankers FEEL!
Describe what makes your idea unique—different from all others in the field.
In India the poor and the marginalized are alienated from the mainstream fiancial /banking system due to its basic design, and much of this stems from the insensitivity of the system and those who populate it We propse that bankers as a matter of policy spend, say, 48 hours with a poor family/a family which as been denied a loan/a family where someone has committed suicide due to a loan burden/a family which has been threatened by recovery agents. Bank managers, ideally with their spouses should spend time with such people to sensitize themselves that they deal with humans and not account numbers.
How do you implement your innovation and apply it to the challenge/problem you are addressing?
We are working on the implementation, and welcome banks (Citi could make a beginning) to enrol in such a program which we can customize to suit a bank's needs. Bank managers' holidays could include such a component.
Do you have any existing partnerships, and if so, how did you create them?
None
In which sector do these partners work? (Check all that apply)
Impact
Provide one sentence describing your impact/intended impact.
Sensitivity can only come through such participation, and no amount of banking reform and rhetoric can sensitize bankers to the needs of the poor as this can.
Please list any other measures of the impact of your innovation.
'Feeling' banks and financial institutions could make this a matter of policy.
Does your innovation address and/or change banking regulations?
No. It aims only at changing attitudes.
How many people does your innovation serve or plan to serve? Exactly who will benefit from your innovation?
As many as banks care to participate.
This Entry is about (Issues)
Sustainability
Financing source
How is your initiative financed (or how do you expect your initiative will be financed)?
It needs minimal financing. The banks need to simply pay for their own managers' trips.
If known, provide information on your finances and organization:
Nothing has been budgeted for this as the idea is in the incubation stage.
What are the main financial barriers and how do you plan to address them?
None. Banks need to come forward and participate.
Aside from financial sustainability, how do you plan to grow the initiative?
Again, it will only depend on participating banks.
The Story
Please select one
What was the motivation or defining moment that led to the creation of this innovation? Tell us the story.
We are a recently formed NGO in Kolkata, India, and are also involved in social entrepreneurship through a rural tourism project financed by the Tourism Finance Corporation of India.
Please provide a personal bio of the social innovator behind this initiative.
Sunil is a former civil servant with a vast experience of working with poor communities in India.
a) Please identify the individuals that your innovation benefits (Please check all that apply)
Consumers .
b) Do you help the people you serve to buy goods or services using financial innovation? If so, how?
No
c) Do you help the people you serve to sell goods or services using financial innovation? If so, how?
No
