NEW DELHI, India, March 8, 2018 /PRNewswire/ --
- Wins second consecutive GLOMO award and third for the company in the past 6 years.
- Recognized for EcoCash Savings Club service powered by Comviva's mobiquity® Money platform
Comviva and Cassava Fintech have jointly won the GSMA GLOMO Award in the 'Best Mobile Innovation for Women in Emerging Markets' category for the EcoCash Savings Club service powered by Comviva's mobiquity® Money platform. The award was presented at the MWC 2018, Barcelona, Spain.
EcoCash Savings Club, developed and managed by Cassava Fintech and powered by Comviva was recognized for its ability to increase digital and financial inclusion for women in Zimbabwe, as well as supporting the United Nations SDG 5: 'To achieve gender equality and empower all women and girls'. The competition this year was huge, with strong participation from across the globe. In the judges' opinion, "Increases access to savings and financial security for women. Innovative, with a clear business strategy, commercial viability, sustainability and thoughtful implementation" made EcoCash Savings Club a wining product.
"We are truly honored to win this prestigious award second time in a row. The award recognizes our technology leadership in digital payments as well as our continuous effort to innovate and make an impact towards the overall betterment of society," said Manoranjan Mohapatra, Chief Executive Officer at Comviva. "Moreover, the win is especially significant, as it coincides with mobiquity® Money's ten-year milestone."
Darlington Mandivenga, Group Chief Executive Officer at Cassava Fintech said, "The impact of community-based savings schemes on the well-being of African communities cannot be overstated especially in resource-poor environments. The concept of savings clubs is well established across Africa. Supporting such initiatives, which promote a savings culture has become an economic imperative as the money proceeds from these savings is used to feed and educate children. As a business, which has its roots on the African continent, Cassava Fintech is committed to supporting these groups by providing them with innovative ways of strengthening their saving clubs, making it easier and convenient for them to operate not only in Zimbabwe but also in the rest of Africa. Whilst we are grateful for having been recognized for this award the real accolade belongs to the women who strive each and every day to create a better life for themselves and their communities."
SOURCE Mahindra Comviva