Ekgaon Technologies and Nirdhan Utthan Bank www.ekgaon.com
Country of implementation: Nepal and India
Ekgaon Technologies and Nirdhan Utthan Bank are building a mobile remittance authentication system to facilitate small-scale remittance transfers for workers in South-South migration corridors. Remittances are transferred and saved in investment vehicles in receiving countries and smoothen otherwise unpredictable income streams. Using mobile technology remittance, service providers can access new customers in areas where operating margins are small and ensure more security than physical cash transfers. Mobile-based remittance services may change the landscape of remittance provision and enable a new segment of wage earners to access formal financial services.