by December 2, 2013 0 comments

Adarsh Credit Co-operative Society Ltd. (www.adarshcredit.in), a large credit co-operative dedicated to improve the social and financial status of its members, and Mistral Mobile(www.mistralmobile.com), a leader in mobile solutions for the financial services industry, announced their co-operation to use Mistral Mobile’sm-Agent solution to power Adarsh’s agents to offer expanded services to its members and promote financial inclusionacross India. Adarsh will equip its agents with Mistral Mobile’s m-AgentTM solution, enabling agents to perform a wide array of services for Adarsh’s members. These services may include opening new accounts, taking deposits, handling loans and other payment services.

Priyanka Lodha, Managing Director of Adarsh, said “We are excited to be enhancing our services to members and agents through the mobile phone. We found that Mistral Mobile understood our needs and delivered a solution that uniquely allows us to adapt rapidly as we grow.” Mobile solutions are increasingly seen as a key method for financial institutions like Adarsh Credit to provide effective agent-based services, thereby increasing their service footprint, adding more depositors and accounts, and improving consumer access to financial services. Rahul Modi, Additional Chief Operating Officer of Adarsh, said “Our agents will benefit from intuitive user interfaces that work on feature phones as well as smartphones, over any mobile operator network, with or even without a data connection. And at the same point, equally, both governments and regulators are fueling the adoption of agent-based financial servicing models, also known as agent-banking, as a means of bringing financial inclusion to underserved populations.”

Ludwig Schulze, CEO of Mistral Mobile, said “We have a long history in mobile financial services in India dating back to our teams’ days in Nokia Money, and we are pleased to be building on that legacy at Mistral Mobile with customers like Adarsh to support the expansion of financial inclusion and mobile financial services more broadly around the world. We are proud to work with Adarsh Credit and support their growth in mobile financial services.” “We are going to start a new kind of services for our member customers, especially in rural areas it will be a revolution in the sector of financial services.As the solution is using encrypted SMS for communications between the mobile applications and the service, there are no limitations to using it even in the most rural areas.We are very excited to launch this type of solution,” said Himanshu Shah, CTO of Adarsh Credit.

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