Private sector lender IDFC First Bank has partnered with the association of microfinance institutions Sa-Dhan and Delhi-based fintech solutions provider NextGen to provide digital microfinance solutions to feature phone users.
“Digitization in collections in the microfinance sector has been a great challenge as most of the MFI clients do not possess smart phones,” said Jiji Mammen, chief executive of Sa-Dhan, adding that this partnership will help in developing a new payment and collection system by using feature phones with the technological intervention being provided by them.
