Financial Information Network and Operations (FINO) has introduced its mobile banking solution that will increase the capabilities of the unbanked and underbanked at reduced costs. According to the Mumbai-based company, the use of mobile banking has increased three times over the past two years. Additionally, at least 36% of the population is literate and has mobile phones but no access to direct credit.
The introduction of this new FINO-MITRA mobile banking will hopefully allow more of the 8 million rural mobile subscribers in India to be reached. For more information about this new product by FINO, please visit the article at Microfinance Focus HERE.