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MicroFin App Solution Demo Video:

MicroFin App Solution Demo URL: VideoLink

Submission Details

Solution Name: MicroFin App

Solution Description: MicroFin App Solution is a Mobile application having capabilities to work Offline and store the data in mobile device itself integrated with SAP Business One on HANA. It covers following Modules / functionality

Customer Management including Family information and KYC

Bio Metric integration

Loan Application and Disbursement Management

Collections and Savings

Solution Use Case

Real Customer Use-case:

Microfinance institutions (MFI) provides loans to individuals, usually women, to finance income-generating activities and establish self- sustaining businesses like kirana shops, poultry farms and tailoring shops.

Customer is present in the heart of vast rural hinterland with footprint in 18,000 villages.

With more than 1 million loan-recipient members and cumulative disbursement of over 50 million usd and a recovery rate of 99.7 %, the MFI relies on its 1000 loan officers / Field officers, to acquire new members, disburse loans, ensure judicious utilization of loans and track repayments.

Loan officers are the face of customer. They are the ones who regularly visit the loan recipient members in villages and assist them every step along the way.

Traditionally, these loan officers used manual, paper-based processes to keep track of loans. The data processing was done on a ‘shared’ branch computers.

Every branch office is staffed with 30 loan officers and a branch manager. The loan officers come to the branch office every morning, print their demand and disbursement sheet, then they will go on field to engage with the members and disburse loans.

A loan officer, typically, visits 5 villages in a day. After the field work he come back and did the data entry manually into the shared branch computers. This was a time-consuming and tedious exercise.

So the MFI embarked on a business transformation model-an enterprise mobility solution that would streamline its field operations. The company digitally empowered its loan officers with Samsung tablets. These project involved provisioning and deployment of 1,000 tablets across rural and semi-rural locations, a help desk to assist loan officers to manage their devices and an offline mode of solution and SAP Business One.

We factored in that connectivity would be a challenge in the remote areas, so we implemented an offline mobility solution.

With the implementation of enterprise mobility the data processing takes only 20 seconds. This has reduced the drudgery for loan officers. Each officer now saves two hours every day.

Persona Identified:

 

Pain Points:

 

Solution Details:

The traditional model for microfinance institutions (MFIs) has often started with a loan officer spending time, sometimes an hour or two, with a loan applicant or group of applicants to understand their needs, capacity and character. Applications were reviewed manually and, if approved, disbursed in cash. MFI staff then made regular rounds to collect repayments.

On the front end, collecting information digitally. Staff spent hours travelling to villages, then returned to the branch and waited to enter data. Now based on this solution Loan officer enter data digitally has reduced meetings with loan recipients from 45 minutes to 30 and enabled them cover 7 centers per day compared to the previous 5. 

Solution Technology

Application Server: Jetty Server

Database Server: Mysql Server

Image Hosting Server: PHP (Apache httpd Server)

Restful Api’s : Sparkjava Framework

Scheduler: Quartz Scheduler

Android Application Development: JAVA

HANA Service Layer

Go-to-Market Strategy

Industry focus:

Micro Finance Companies

Marketing strategy:

Collaborate with SAP Business One Partners

Run Marketing Campaign

Road Map

Build the app to cover all localisation requirements and integration with Govt portal for fletching credit ratings and identity details to validate ID proofs

Contact Information

Partner: Vestrics Solutions Pvt Ltd

Country: India

Team Name: Micro Fin App Team

Team Members: 7

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