The conference has set the stage to call Request for Proposals (Full Application) for design, development, and rollout of innovative financial products and services to deepen the financial access for the un/underserved rural poor, women, youth and members of disadvantaged groups (DAGs) in Nepal, a press release issued by Sakchyam said.Sakchyam offers support to financial institutions through knowledge-sharing, technical assistance, and funding through its risk and cost-sharing mechanism under the Sakchyam Challenge Fund program to tackle issues complicating access to finance in Nepal.
It has encouraged bidders to come up with cost-effective, affordable, accessible and efficient financial products, services and delivery mechanisms, using innovative technologies and approach.
Interested bidders can apply in collaboration with technology providers and other non-financial institutions, Sakchyam said, adding that the launch of its partnerships with micro finance institutions such as UNYC Nepal, Vijay Laghubitta Bittiya Sanstha, Nepal Women Community Service Centre, Kisan Micro Finance Bank, Kisan Co-operative, and Nirdhan Utthan Bank has resulted in the roll out of products and services such as expansion of service locations in rural areas, tablet banking, POS machine-supported services, Interactive Voice Response (IVR) messaging for financial literacy, and new loan products. "
"The new program year will see Sakchyam continue to forge new partnerships to introduce new innovations including Mobile Financial Services, Meso-Level Integrated Management Information System for the Micro Finance Industry, breakthrough Innovations in insurance -- particularly Micro-Life Insurance and Weather-related Index Insurance, and transformative remittance products and service"," the release added.
The event, which was attended by Dharma Raj Pandey, president of NMBA; senior representatives of leading micro finance institutions of Nepal, industry leaders, Sakchyam senior leadership, and members of local media, is planning to trigger and forge meaningful partnerships with micro finance institutions, according to the release.
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