M/s Eko India Financial Services, New Delhi

M/s Eko India Financial Services has developed a low cost, technology led banking platform and an agent management tool kit to distribute and deploy branchless banking agents, service them & serve more customers cost effectively through local financial institutions and partners. Eko’s technology consists of: Handset agnostic, number dialling user interface leveraging existing customer behavior like missed calls; OkeKey – Extremely low-cost paper equivalent solution to Remote Secure Authentication (RSA) token device that facilitates secure financial transactions through any mobile phone; Eko Distribution Information Center – Web based tool that helps manage & supply digital money to agents; Process transactions through USSD (Unstructured Supplementary Services Data) with SMS as backup and android application for higher order experience; Integration with State Bank of India’s (SBI) Core Banking System for real-time transactions into SBI accounts and Yes Bank & ICICI Bank’s systems enabling near real-time transactions into any bank account. Framework enabling self-enrolment of agents and selection of correct banking agents on a region basis local data is also being included.

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