Washington, D.C. January 24, 2019 – BASIX – Sub-K (Sub-K) became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
“200 million businesses worldwide need financing to invest, grow and create new jobs. We are proud to have Sub-K join our network of 150 members who work to expand access to finance for small and medium businesses,” said Matthew Gamser, CEO of the Forum.
Sub-K was incorporated in 2010 and is a digital financial services intermediary that enables access to financial and payment services to the under-banked in India. It provides credit, basic banking and government to citizen services through business correspondence model by deploying agent networks and co-branded offices across the country.
“MSME lending has been a strategic priority of BASIX Sub-K, said Sasidhar Thumuluri, Managing Director and CEO of BASIX – Sub-K. “We are actively innovating digital solutions to reach this segment efficiently and serve the large market gap in India. We have been following SME Finance Forum activities for some time and feel that we are now ready to formally engage with the community. Global perspectives and knowledge gained through events and visits organized by the Forum would be of great value in further building our capabilities in this space. We will be more than happy to share our work with the larger community as well.”
Sub-K manages an AUM of USD $125million of JLG and MSME loans and a network of 12,301 agents. Sub-K is excited to benefit from access to data analysis, peer learning and networking events through membership with SME Finance Forum.
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
About SME Finance Forum
The Forum operates a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. Its members share a common commitment to advancing finance so that small and medium enterprises can flourish and grow. The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 and is managed by the International Finance Corporation (World Bank Group).
About BASIX – Sub-K
Sub-K is a digital financial services intermediary that enables access to financial and payment services to the under-banked in India. Incorporated in 2010, it provides credit, basic banking and government to citizen services through business correspondence model by deploying agent networks and co-branded offices across the country. Services are largely facilitated through in-house mobile based technology (patent pending) that is fully compliant with all regulatory requirements and can seamlessly facilitate multiple products and services at the last mile.
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