Testing Innovations in the BC Channel

Outcome 1: Improve visibility and service awareness for 100,000 customers at BC agent points.
Outcome 2: 5,000 BCNM staff and agents equipped with customer-centric skills for new products/services.

The “Testing Innovation in BC Channel” project in India focuses on enhancing financial inclusion, especially in rural and underserved communities. Building on the success of the Business Correspondent (BC) Model, this initiative seeks to overcome challenges such as limited credit access for women. The project draws insights from Grameen’s digital financial services initiatives (BEADS and SCALE) and explores innovative solutions, including new products, services, and approaches to transform BC networks. Its key goals include increasing agent viability, fostering collaboration, and shifting from a transaction-based to a service-based approach.

Category	Details
Geography	Pan-India (Rural & Underserved Areas)
Objectives & Outcomes	Diversify BC Product Offerings: Outcome: 7,000 agents to offer a broader range of non-CICO financial and non-financial products/services to 130,000 customers. Enhance Customer Engagement and Visibility: Outcome 1: Improve visibility and service awareness for 100,000 customers at BC agent points. Outcome 2: 5,000 BCNM staff and agents equipped with customer-centric skills for new products/services. Strengthen BC Industry Collaboration: Outcome 1: Establish an industry-led forum for knowledge exchange and collaboration. Outcome 2: Drive the adoption of successful interventions among member BCNMs, impacting 100,000 agents.
Achievements	CXO event in December 2023. Driving adoption of Dual Auth for SHGs via the BC channel with Mr. Sunil Kulkarni, CEO BCFI. Launched the CXO event report through a webinar in May 2024. MoU with EasyPay (April 2024) as SNP for ONDC. MOU with ONDC (July 2024) to drive sellers’ networks through the BC channel. Community of Practice (CoP). Prepared a Gender Gap Analysis report. Researched innovative solutions like Telemedicine, Health ATM, Carbon Credit, and Dual-Biometric Authentication for implementation with BCNMs.

Our Impact