The IT deployment of IBM MobileFirst solution will enable the microfinance company, which has presence across 18 states covering 100,000 villages, to transform operations from paper-based processes to a mobile solution.
SKS Microfinance has more than 4.5 million members and disbursement of approximately $7 billion in loans and current loan outstanding of $833 million as on 30 September 2015. It has 5,456 loan officers based out of 1,135 branch offices.
Until recently, loan officers used manual, paper-based processes to track loans and enter that information into a shared branch computer.
IBM MobileFirst solution has assisted SKS Microfinance to improve security of the company’s data, reduced the disbursal process and accelerated interactions on tablets.
Loan officer now saves approximately one and a half hours and serves more members per day. They can do six center meetings per day against five earlier, registering a 20 percent increase in field productivity and reducing costs.
They have reduced the duration of the meetings with loan recipients from 45 minutes to 30. The mobility solution will also provide SKS Microfinance a foundation for future innovations, including cashless transactions.
The solution included provision and deployment of 7,000 tablets across India (mainly rural and semi-rural), a help desk to manage these devices and software and services (IBM MobileFirst Device Procurement and Deployment Services and IBM’s MobileFirst Managed Mobility Services) to transform from paper-based to mobile digital services.
“We have significantly reduced the time required to input information and reduce fatigue among the loan officers. The tablet solution enables us to accommodate growth while improving efficiencies,” said MR Rao, managing director and CEO of SKS Microfinance.