Finaccess (Hello Paisa)
has been selected as the top three final nominees for the 'Innovator of the
Year Award - 2012' by the Swedish International Development Agency (SIDA)'s
Innovation Against Poverty (IAP) programme.
The IAP annual
conference and awards ceremony will be held on November 26 in Stockholm, Sweden,
where the award will be presented to the 'Innovator of the Year' by the
director general of SIDA after selection by eminent global panellists.
The nomination is a
recognition by SIDA and Innovation Against Poverty of Finaccess’s efforts
towards providing innovative business solutions to bring financial access to
the underserved and unserved segments of the population across Nepal, said
executive chairman of Finaccess Sanjay Bahadur Shah.
The shared access of
Hello Paisa eco-system and interoperability of customers, banks, mobile
operators, and agents is a key feature that enables all segments of the
population access to state-of-the-art mobile financial services, according to
him.
Finaccess is a
technology empowered financial services company as it offers two main services
– mobile financial services through its proprietary software Cell or and its
shared access and totally interoperable Hello Paisa platform and financial
inclusion services by expanding and setting up of the eco-system of agents and
merchants required for effective delivery of financial services at the grass
roots level.
Currently five banks and
financial institutions — Laxmi Bank, Bank of Kathmandu, Siddhartha Bank,
Commerz and Trust Bank Nepal, and International Leasing and Finance Company —
use the Hello Paisa network. This initial network of five banks and financial
institutions already has 175 bank branches and 125 agent touch points for
delivering services. The agent network is expected to increase substantially
within the next few months and be able to deliver financial services to all
corners of the country.
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