February 12, 2008
IBM and CARE Announce Africa Financial Grid
This effort parallels the vision that Sevak Solutions has been promoting since its inception. More...
Rural Areas in Vanuatu to Access Modern Banking Services
As a result of a feasibility study conducted by Sevak Solutions, the Asian Development Bank (ADB) and the Japanese government will be supporting the implementation of a branchless banking system in Vanuatu. More...
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| Vision |
Sevak Solutions is working toward a world where any individual – no matter how poor they are or where they live – will be able to have access to the types of financial services that only a small percentage of the world currently enjoys. We are reminded that as recently as one century ago, the poor in the United States were considered unbankable. It was only through the leadership of pioneers like A.P. Giannini, who started that Bank of America, that the average citizen was given access to basic financial services.
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| Sevak Solutions was formed to link the world’s poor to the financial grid |
At Sevak Solutions we believe the vision that drove leaders like A.P. Giannini and Dee Hock, the founder of VISA, can be applied to the billions of people around the world who currently have no access to financial services. We believe it is possible to create sustainable infrastructures that will link unbanked customers to the formal financial sector. Scale will be achieved with the reduced transaction and operational costs that can be attained from a standardized – and shared - infrastructure. Banks, microfinance institutions, telecom operators, and other financial providers that share costs and benefits will serve individuals across the financial spectrum - regardless of where they live or how much money they have. The dramatic changes that have occurred in the sector over the past five years support our vision.
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| Our Name |
Sevak is a Sanskrit word that means “to serve” or “one who serves”. The social aspect of our work is a core element of our vision, although we also seek profitability across the value chain.
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