Swadhaar won the Finnoviti Award 2013, for the 'Mobile Wallet' product in the digital category. We are proud to receive this award for innovation in the Financial Inclusion space. This is a result of our symbiotic collaboration with Airtel & Axis Bank to introduce the Mobile Wallet to clients and others from low income households in five communities where Swadhaar is present. The Mobile Wallet provides convenient access to a bank account with Axis Bank and payment points at Airtel outlets close to where they reside, work or shop.
The 'Mobile Wallet' is the first such initiative for MFI clients piloted by Swadhaar in five branches. Swadhaar has employed financial education to make clients comfortable with using this channel as well as provide information on appropriate products. This project is planned to be scaled up gradually across other branches including outside Mumbai.
This award is a reinforcement of the organisation's customer first philosophy.
Swadhaar was honoured with the 'Smart Campaign' client protection certification for strong client protection practices. Swadhaar was amongst the five microfinance institutions in India to receive this honour. This recognition is a testimony of our organisational core values – Customer first, Responsibility, Integrity and Excellence, towards which everyone at Swadhaar stand committed as one team in ensuring to maintain highest standard while delivering best possible services to our customers as well as never compromise our values to reach our business goals.
The Smart Campaign's client protection certification program publicly recognizes those institutions providing financial services to low-income households whose standards of care uphold the Smart Campaign's seven client protection principles.
Swadhaar has been awarded the respected MFTransparency "Seal of Transparency" for pricing transparency. This seal is awarded to the providers of microfinance, who become transparent in their product pricing.
Swadhaar was honoured the transparency index of 93; which is the highest transparency index amongst the Indian MFIs. The average transparency index in the MFI industry in India is 86.
MFTransparency organization works on the global platform on MFI pricing & transparency indicators. It is the platform for the Microfinance industry to publicly demonstrate its commitment to pricing transparency, integrity and poverty alleviation.