June 8, 2017

First Global signs agreement to offer micro credit, savings and mobile payments services to the underbanked and underserved

TORONTO -- First Global Data is pleased to announce that it signed an agreement with Bohdi Systems Pvt. Ltd. to provide, among other things, financial services such as micro credit, savings and mobile payments to the disadvantaged and lower income demographic in India.

The service is called DhanMitra and it is currently being implemented on the First Global mobile wallet deployment in India. DhanMitra is an ecosystem comprised of cooperative and rural banks and micro finance institutions. The service will enable First Global customers to access micro credit loans, to withdraw funds from the microfinance accounts, load their mobile wallets, make purchases of e-books and other e-learning products, access the other services that First Global offers on the mobile platform including payment of bills, etc, and to repay loans.

"This is an important initiative for First Global. We continue to focus on expanding our value-added services portfolio on our mobile platform, while at the same time finding ways to facilitate financial inclusion by utilizing proprietary FinTech solutions. Financial inclusion is a major mandate of First Global and we will continue to add services and capabilities to those challenged by current banking systems," said Andre Itwaru, chairman and CEO of First Global.

 

 

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