The initiative is led by a private sector organization, A Little World (ALW) and its sister entity, a non‐profit organization, ZERO Micro-finance and Savings Support Foundation (ZMF). ALW and ZMF act as intermediaries between rural communities at one end,and mainstream financial institutions and the government at theother end. ALW offers a secure, low‐cost technology driven delivery platform for financial services through special mobile phones that store and help manage a vast amount of customer bank account data, authenticates account holders through photo and biometric identification and allows access to the bank accounts as the Point of Service terminals. The mobile phone is in essence a ‘bank in a box’ run by ZMF for the villagers in rural India. Click here to read more…
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