Financial Inclusion is defined as delivery of banking services at an affordable cost to the vast sections of unprivileged and low income groups living in rural parts of country. As banking services are in the nature of public good, it is essential that availability of banking and payment services to the entire population without discrimination is the prime objective of the public policy. Banks find a trusted partner in companies like Glodyne which bring an end to end solution driven by technology which gets integrated with their banking systems.

Glodyne has been implementing the largest urban as well as rural financial inclusion initiatives in the Country and is set to acquire a leadership position in this space. With the public roll out of financial inclusion services Glodyne becomes one of the few companies in the country with extensive experience and expertise in the implementation of these schemes. The company has created as per the regulatory requirements a unique model based on private cloud and managed services delivery model. The company has built strong IPRs and process frameworks for the financial inclusion services implementation.
Glodyne delivers end to end services which include apart from technological solution and technical services other services like integration of various technological and functional components. Glodyne’ FI Services solution include required infrastructure, systems‐architecture, processes and support services along with requisite hardware and software resources. The non‐technology services mainly comprising of appointment of Business correspondents, cash handling and actual delivery of financial services

Scope of Activities under Financial Inclusion Services

• “No Frills” bank account opening which include
• Digital form filling for A/C Opening as per KYC & Handing over hard copies of account opening form along with the digital photo and biometric finger prints in soft format.
• UIDAI compliant Data Collection
• Collated, Validated & De‐duplicated Data (Using Automatic Finger Prints Identification System called AFIS).
• Issuance of Smartcard/Bank Card & Activation of bank account in the card
• Financial Inclusion Application on Smartcard and Handheld Terminals
• Smartcard Personalization for the Bank
• Integration of Crypto Functionalities and PKI
• Smartcard/Bankcard Management system and Key Management
• Financial Inclusion Data Centre & Secure IT infrastructure
• System Operation and Maintenance of the accounts
• Continuous Awareness and Sensitization of Banking products to the Rural Mass and penetration of banking in Rural areas.
• Capacity Building of Customer Service Points (CSP) under Business Correspondence Model.
• Becoming a Technology partner in bank’s growth and success

Financial Inclusion Services benefits

• Brings banking services at the door steps to the rural population
• Ensure social inclusion of the marginalized population
• Ensures that the funds allocated under various social schemes reach the end rightful beneficiaries
• Ensures banking becomes a habit and drives consumption in the interiors
• Technology enables scalability, transparency and accountability