IFC to help microfinance firms use IT in rural areas
The focus will be on developing banking solutions that will help microfinance institutions automate government payments, banking and other financial services for rural customers.
By PTI |
MUMBAI: International Finance Corporation, private lending arm of the World Bank, and Financial Information Network and Operations, will soon run pilot projects with microfinance institutions, banks and government agencies to make use of information technologies in rural banking.
The focus will be on developing banking solutions that will help microfinance institutions automate government payments, banking and other financial services for rural customers.
International Finance Corporation (IFC) is financially supporting FINO, a multibank-promoted company providing smart card-based solutions for financial services in rural areas.
The release quoting Manish Khera, CEO of FINO, said the initiative will help microinsurance providers process health insurance claims at lower costs and improve the flow of information to the insurer from the field.
"FINO's smart card-based platform will also make social and pension payments more efficient, reducing the cost of transactions and ensuring the end-users receive payments on time", he added.
The focus will be on developing banking solutions that will help microfinance institutions automate government payments, banking and other financial services for rural customers.
International Finance Corporation (IFC) is financially supporting FINO, a multibank-promoted company providing smart card-based solutions for financial services in rural areas.
The release quoting Manish Khera, CEO of FINO, said the initiative will help microinsurance providers process health insurance claims at lower costs and improve the flow of information to the insurer from the field.
"FINO's smart card-based platform will also make social and pension payments more efficient, reducing the cost of transactions and ensuring the end-users receive payments on time", he added.
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