Financial Inclusion White Paper - NCR

used at any ATM location to avail financial services. Interoperability provides
flexibility to transact and secures cash. These facilities are currently not
available for the financially underserved population but there is a need for
these services for this set.
There are different variations of ATMs:
Cash Dispensers and Cash Deposit Machines (CDM)
These would typically do routine transactions such as cash dispensation or
deposits and statement printing
Multi-function ATM
These ATMs typically handle other transactions such as check deposit, bill
payments and travel ticket bookings, etc, beyond the routine cash and dash
like the CDM
2. Mobile Phone Applications
The explosion in mobile telephony has revolutionized the way individuals
communicate with each other and with businesses. By the end of 2009, more
than 60 percent of the global population will have a mobile phone subscription,
representing global growth of eight percent. Across Europe and Russia, there
is already more than one mobile phone for every man, woman and child.
[Source: Economist Intelligence Unit].
Of all the telephone connections in India, 90 percent are mobile 9 . The demand
for Mobile phones is expected to rise by 24 percent in 2009, far outstripping
global growth rates.
In many markets, financial institutions are offering banking services via
mobile phones, each with varying levels of functionality, ease-of-use, cost and
mass acceptance.
In western economies, phone banking is offered to established customers as a
means of convenience, eliminating the need for the customer to visit the bank
and perform transactions ‘on the go’.
Because of the penetration in poor
and developing economies, mobile
phones are regarded as a tool to
deliver financial services to the
masses.
The biggest disadvantage with
mobile banking is the element of
cash. When cash is needed, mobile
banking requires the assistance of
other technologies or channels.
9 Source: Telecom Regulatory Authority of India (TRAI)
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