Eko

Eko India Financial Services Private Limited (Eko) is a leading Business Correspondent (BC) and mobile banking technology provider in India. As a BC of the State Bank of India and ICICI Bank, Eko converts every retail shop into a low-cost distribution and payment infrastructure, extending the reach of banks to enable small value financial transactions instantly. Eko presently serves over 900,000 customers across over 1,300 outlets (grocers, pharmacies, stationery shops, small cyber cafes, telecom shops etc.) across Delhi-NCR, Bihar and Jharkhand. These outlets have bank and Eko branding where customers can obtain a no-frills savings and other bank accounts in a matter of a few minutes. Eko also enables deposits, withdrawals and remittances for customers. Using any mobile phone and simple text messages, the agent or the customer may transact with core banking systems on a real-time basis, anywhere. Additionally, Eko enables instant disbursal of payments to Accredited Social Heath Activist (ASHA) workers employed under the National Rural Health Mission in Sheikhpura, Bihar. Eko has also initiated a pilot for a small ticket over-the-counter Micro Life Insurance product. Eko has received recognition from several national and international forums and won many awards including NASSCOM - Emerge 50, PCQuest - Best IT Implementation, mBillionth Award by Digital Empowerment Foundation, World Summit Award by UNGAID, Best Digital Socio-economic Initiative by IAMAI, Leap of Faith Award for Entrepreneur of the Year in Financial Services by ET NOW, winner of Innovator's Competition for DST-Lockheed Martin India Innovation Growth Program, Coolest Startups by Business Today and others. Eko hopes to reach out to millions of financially excluded people over the next few years and extend formal financial services at their friendly neighborhood store.