Friday, January 25, 2008

The future of commerce in India - the Mobile way? Part II

Back in August 2006, based on the flurry of activities in the m-commerce ecosphere, I had speculated through my journal whether most 'commerce' in India would soon be transacted in a mobile way.

Very recently I came across another pioneer in this sphere. Its a vibrant venture named simply 'eko', which sounds like an echo and an eco (as in ecology) put together. Despite its jovial name, Eko means serious business!

To put it in its own words: "This initiative aims to increase the reach of lending organizations to low income people and also democratize financial services for this customer segment in urban as well as rural areas."

Eko addresses a lot of gaps that the other players had failed to, brings in a lot of innovation into taking banking (lots of interesting IP, that cannot be disclosed at the moment) to the masses and relies on a network of dedicated people and mobile technology to achieve this.

Watch out this space for more on this in times ahead.

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