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SCALES & Innovations

Scaling Agent Viability & Quality in India:

The Scaling Agent Viability and Quality in India project is a pan-India initiative focused on enhancing the scalability, viability, gender sensitivity, and quality of Business Correspondent (BC) agent networks within the inclusive finance sector. Over three years, the project aims to expand product offerings at BC points, improve liquidity management, increase the presence of agents in underserved areas, and boost women’s participation in BC networks. By strengthening the ecosystem, the project seeks to broaden the reach of BC models and provide improved financial services to underprivileged communities. This project is supported by the Bill & Melinda Gates Foundation (BMGF).

Category Details
Geography Pan-India (Rural & Underserved Areas)
Objectives & Outcomes Objective 1: Business Correspondent Network Managers (BCNMs) scale up product offering to increase agent viability:

  • Outcome: Agents provide a diverse range of products, prioritizing women and rural low-income households

Objective 2: Large agent networks in India offer quality services to underserved communities:

  • Outcomes: Expand in underserved area; Liquidity Management at agent level; Grievance Redressal Mechanism

Objective 3: Increased women’s participation in BC agent’s networks

  • Increase access for women customers to a wider array of products and services
Achievements
  • GIS based dashboard – Our team is working on the GIS based dashboard for BCNM leadership to make data based decisions for expansion into underserved areas. 
  • QR Based Merchant Acquisition – We have established the QR based merchant acquisition model through BC agents as a channel for pushing digital transactions in rural India.
  • Customer centric approach – We’re also working with the BCNM partners to increase customer focus through the concept of customer centricity by expanding product offerings at BC points and training.
  • Knowledge Management – In the last two years, we have published reports and knowledge products on the topics such as women agents and product offerings for the wider adoption in industry.

 

Testing Innovations in the BC Channel:

The “Testing Innovation in BC Channel” project in India focuses on enhancing financial inclusion, especially in rural and underserved communities. Building on the success of the Business Correspondent (BC) Model, this initiative seeks to overcome challenges such as limited credit access for women. The project draws insights from Grameen’s digital financial services initiatives (BEADS and SCALE) and explores innovative solutions, including new products, services, and approaches to transform BC networks. Its key goals include increasing agent viability, fostering collaboration, and shifting from a transaction-based to a service-based approach.

Category Details
Geography Pan-India (Rural & Underserved Areas)
Objectives & Outcomes Diversify BC Product Offerings:

  • Outcome: 7,000 agents to offer a broader range of non-CICO financial and non-financial products/services to 130,000 customers.

Enhance Customer Engagement and Visibility:

  • Outcome 1: Improve visibility and service awareness for 100,000 customers at BC agent points.
  • Outcome 2: 5,000 BCNM staff and agents equipped with customer-centric skills for new products/services.

Strengthen BC Industry Collaboration:

  • Outcome 1: Establish an industry-led forum for knowledge exchange and collaboration.
  • Outcome 2: Drive the adoption of successful interventions among member BCNMs, impacting 100,000 agents.
Achievements
  • CXO event in December 2023.
  • Driving adoption of Dual Auth for SHGs via the BC channel with Mr. Sunil Kulkarni, CEO BCFI.
  • Launched the CXO event report through a webinar in May 2024.
  • MoU with EasyPay (April 2024) as SNP for ONDC.
  • MOU with ONDC (July 2024) to drive sellers’ networks through the BC channel.
  •  Community of Practice (CoP).
  • Prepared a Gender Gap Analysis report.
  • Researched innovative solutions like Telemedicine, Health ATM, Carbon Credit, and Dual-Biometric Authentication for implementation with BCNMs.

 

Collaborate & Partner with Us

Join forces with the Innovations in Digital Finance (IDF) team to drive transformative change in financial inclusion. By partnering with us, you’ll be at the forefront of developing and scaling innovative financial solutions that enable underserved communities, particularly women. Together, we can enhance financial literacy, expand access to critical services, and build resilient ecosystems that foster sustainable economic growth. Whether you’re a financial institution, technology provider, or social impact organization, your collaboration can help us create lasting impact. Let’s work together to build a more inclusive and equitable financial landscape.

CONTACT 

info@grameenfoundation.in 

Visit: www.gfsi.in or www.grameenfoundation.in

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