Science Journal of Business Management

August 2014, Volume 2014, ISSN:2276-6316

Author(s) 2014. This work is distributed under the Creative Commons Attribution 3.0 License.

Research Article


Enhancing Branchless Banking Technology Solutions for Improving Consumer Adoption

1Shalu Chopra,2Dr. Arum M. Sherry

1Deptt. of IT, VES Institute of Technology,Mumbai University, India.
2Chief Academic Officer, Bridge School of Management, Gurgaon, India.

Accepted June 10, 2014; Available Online 4 August, 2014

doi: 10.7237/sjbm/297


Branchless banking can greatly extend the outreach of financial services to the poor people, both by reducing the cost of delivery (of building and maintaining branches, and handling large volumes of low value transactions) and by reducing the cost to customers for accessing the services (travel and direct costs and opportunity costs). Over the years several technology solutions for branchless banking have emerged. However an optimal solution that can fulfill consumer expectations of banking services is yet to emerge. This paper presents a technology solution with the potential to address consumer needs much better than possible currently.

Keyword:Financial Inclusion, agent based branchless banking, mobile banking, POS/POT, micro-ATM, kiosk/internet banking.