The award was conferred towards the “Innovative use of technology for Financial Inclusion” in the “IT Implementation in NBFC” category
INDIACSR News Network
MUMBAI: Fullerton India Credit Company Limited, a leading Non-Banking Finance Company in India, has been conferred the Financial Inclusion and Payment System Award 2013’ held in in Delhi on the 25th of October. The project that won the award was the biometric based ‘Smart Handheld device on Field’ device, which facilitates the loan installment collection process in the rural markets.
This system has been a unique feature of Fullerton India’s rural business operations – offering both convenience and transparency in transactions to customers. Currently Fullerton India’s rural business which operates under the brand name – “Gramshakti” does over 1.5 Million transactions through these hand held biometric devices every month.
The award was received by Samir Khare, General Manager – Business Solutions on behalf of Fullerton India and was handed over by Mr.J.Seelan, Minister of State for Finance, GOI and Mr. R Chandrashekhar, Ex Telecom Secretary and President Designate, NASSCOM.
Commenting on the exciting win, Mr Ravi Shankar, Executive Vice President Marketing & Rural Business stated, “We, at Fullerton India, have a long term vision of improving financial inclusion and helping enhance livelihoods of people by providing them access to quality financial services.
To enable this we have invested in unique technology systems to serve the customer better and faster. The use of biometric authentication processes and transaction devices have enabled speedier servicing of customers and also built a great level of transparency, trust and customer confidence in transactions with them. Our Gramshakti branches are fully computerized and are linked with central systems and all operations are online providing access to customer information and transactions on a real time basis.”
Fullerton India believes that making quality financial services available at the doorstep of the customer is financial inclusion in the truest sense. Fullerton India’s Gramshakti network has an enviable reach in over 23000 villages through its 147 rural branches that cover the last mile between the branch and the end customer in each village in the catchment, enabling financial inclusion of the under-served and un-served segments of the rural markets.