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Eko Case Questions - 178 - SectionD
Eko Case Questions - 178 - SectionD
Case Questions
Case: Eko: Mobile Banking and Payments in India
Akshey Bhogra (PGP/18/178) Section D
Questions:
1. What were the SWOT of the Indian market at the time of the
case for the finance sector? For Telecom sector?
SWOT- Indian Financial Sector
Strengths
Weaknesses
Opportunities
Threats
Weaknesses
Opportunities
Threats
Political instability
Strict regulatory practices
Competition from foreign players
Weak IPR Protection
Taxes and duties
2. How well did you think Eko was able to combine the
opportunities of the market to its advantage?
3. What challenges lay in store with Eko? How well has Eko been
able to overcome all the challenges?
Ans
The Initial Hiccups: First couple of years were very tough for Eko which
dried their initial funds of Rs 23.7 mn
Overcame by: Forging partnership with Centurion Bank of Punjab as a
BC for opening no-frills accounts
Partnership with Centurion Bank ended very early when it was acquired
by HDFC, as a result of which it had to shut down all 2000 accounts it
had acquired
Overcame when: It received a grant of Rs 97 mn from CGAP
Technology Program a program co-funded by Gates Foundation
Not project itself as another software platform company
Overcame by: Building Eko into a consumer brand as per its founders
vision and outsourcing its technology development
Thus it efficiently managed most of the challenges in the past but the
main challenge lies ahead in deciding its future course for expansion