Sesame becomes the #1 banking solutions provider to financially empower lakhs of unbanked, rural population in Kerala, India by aiding banks to develop and deliver innovative financial products.

 

Bangalore, India, June 7, 2017: Financial Empowerment is every Indian citizen’s right; similar to the right to information, right to education and right to vote etc. With the push from Reserve Bank of India (RBI), financial inclusion is being adopted by a large number of banks to serve customers based in remote areas.

 

Sesame has identified and acknowledged the need to provide banking solutions to rural people who have the capacity to invest and save their money, however, lack the means of doing so. The unbanked population needs a reliable source that can safeguard their money and lend it to them whenever they need it. Banks are a trusted source, but their reach isn’t wide enough to penetrate the under-developed regions. The innovative products from Sesame help banks embrace the business correspondent solution and maximise their reach through agent banking.

 

Considering the requirements of rural customers, Sesame’s BC model – Beacon Orbit helps lakhs of individuals and households deposit their money in bank accounts, open FD/RD, pay utility bills, request for loans, apply for cards (credit/debit) and do lots more.

 

Sharing thoughts on the importance of business correspondent agents in banking, Indrajeet Kumar, Digital Marketing Manager, Sesame Software Solutions said, “Banks are responsible for serving all the segments of society. Banking innovations that are accessible by one and all, including the poor, have become the need of the hour. Everyone deserves to be empowered so that they can foresee a quality life in future. Sesame and its product – Beacon Orbit, together are trying to put in the required efforts to encourage people for availing financial services that are safe, convenient and dependable through business correspondents.”

 

Many banks in Kerala and across India have been doing a commendable job as far as financial inclusion is concerned, and the Sesame team is proud of the fact that it has been instrumental in taking this initiative to a newer level. With our BC and agent banking solutions, several banks have increased their revenues, had better reach and added new clients to their customer base.

 

In view of the encouraging response from banks and financial institutions, Sesame’s Beacon Orbit plans to positively touch the lives of lakhs and crores of rural Indians over and above serving the urban population. 

 

About Sesame and Beacon Orbit

 

Sesame is a pioneer banking and financial services company that has been giving impetus to the Government of India’s initiative of financial inclusion for several years. Beacon Orbit, a business correspondent solution from Sesame, has been servicing numerous customers through reputed banks in Kerala. It enables banks and other institutions to acquire and service customers by the means of doorstep, branchless banking. For information on how to can deploy this solution in your bank, enquire now! Visit http://www.sesameindia.com/contact-us.