ZMF creates the last mile operations network in villages, under pre-defined service agreements with Banks and front-ends the delivery of full-featured transactional services on behalf of Banks for Financial Inclusion on the ground. Zero Microfinance and Savings Support Foundation, a Section 25 Company closely affiliated to ALW, has been appointed as a Business Correspondent by 15 Banks, and provides field operations for the ZERO platform. ZMF manages the field force, account creation, appointment of Customer Service Points (CSPs), management of cash and other logistics at the last mile. ZMF in turn collaborates with strongly placed local organizations, district and state administration to ensure smooth deployment and operations. ZMF creates the last mile operations network in villages, under pre-defined service agreements with Banks and front-ends the delivery of full-featured transactional services on behalf of Banks for Financial Inclusion on the ground.

As per a typical agreement between ZMF and a bank, ZMF’s scope of services include:

Enrolment of customers for no-frills zero-balance savings accounts and other account types that may be specified by the Bank.

Enrolling, training and equipping of Customer Service Points (CSPs) in villages to provide various kinds of transaction services including but not limited to cash deposit, cash withdrawal, transfer of money, payment of utility bills, disbursal of loans, collection of loan instalments, and cashless payments at local and remote merchant establishments.

Engaging the CSPs to provide enrolment services for opening no-frills account

Engaging the CSPs to provide various kinds of transaction services including but not limited to cash deposit, cash withdrawal, transfer of money, payment of utility bills, and disbursal of loans and collection of loan installments.

3rd party cash collection

Cashless payments at local and remote merchant establishments.

Management of cash

Lending activities on behalf of the Bank (as an MFI)