GFSI and Protean eGov Sign MoU for Financial Inclusion

Grameen Foundation for Social Impact (GFSI) and Protean eGov Technologies Limited have signed a strategic Memorandum of Understanding (MoU) to enhance financial inclusion across India, with a focus on covering the underserved communities. The MoU was signed today at the Protean Pavilion, Jio World Convention Centre, during the Global Fintech Fest 2024.

This collaboration aims to leverage technology to transform agent-based networks, enabling Business Correspondents (BCs) to deliver a diversified range of financial and non-financial services. By equipping BCs with contemporary skills and innovations, the partnership seeks to improve access to essential financial services, particularly for women and marginalized groups.

Bharati Joshi, CEO, Grameen Foundation India and Grameen Foundation for Social Impact emphasized the partnership's potential to drive systemic change, stating, "This MoU represents a significant step towards realizing our shared vision of financial enablement for all. By combining our expertise and networks with Protean's technological capabilities, we are poised to create lasting impact in the communities we serve, especially benefitting women as agents as well as clients."

Bertram D’Souza, Chief Product & Innovation Officer, Protean eGov Technologies added, "Our partnership with Grameen Foundation for Social Impact marks a significant milestone in our journey of unlocking economic and social impact with the power of Digital Public Infrastructure across multiple-sectors like Financial Services, Sustainability, Education & Skilling, Ecommerce, Agriculture and Healthcare. Grameen Foundation’s focus on creating impact at the last-mile especially in rural India allows us to make a positive impact to the lives of millions of individuals and small entrepreneurs."

Arindam Dasgupta, Interim CPO and Director of Innovations in Digital Finance, Grameen Foundation for Social Impact, remarked, "This partnership is not just about expanding financial services; it's about reshaping the ecosystem to be more inclusive and responsive to the needs of those at the bottom of the pyramid. Through this collaboration, we are committed to creating sustainable pathways to financial independence for millions."

Rahul Dube, Project Director of Innovations in Digital Finance, Grameen Foundation for Social Impact stated, "Our focus is on leveraging technology to bridge the gap in financial access and create solutions that are both scalable and impactful. This partnership with Protean is a critical step in achieving those goals, and we look forward to the transformative outcomes it will bring."

The collaboration between Grameen Foundation and Protean eGov Technologies marks a significant milestone in the journey towards financial inclusion, paving the way for innovative solutions that will allow communities and transform lives across India.