| MOBILE MICROFINANCE SYSTEM |
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The system is a mobile phone based solution that provides a low cost mechanism to computerize micro finance processes using mobile technology. Here, the mobile phone itself operates as an on-line / off-line terminal. This device (mobile phone, smartphone or tablet) connects to a low cost central server computer running Linux. The solution comprises two modules, one for the field agent and the second which is browser based for back-office use. The customer service agent receives a a list of points of transactions (POT) to visit on any given day, drills down for a POT to get the slef-help groups at each POT and the expected collection to be made for savings as well as loan repayment. Various controls are built in to ensure that money collected is banked. Also, with very little effort the application can be made available in local languages.
Benefits
- The customer service agent can spend more time on servicing customers in remote, far-flung villages.
- Thus technology is used to release agents from administrative activities so that they can concentrate on their objective of creating and supporting self help groups.
- The system offers significant productivity improvements thereby lowering the cost of providing microfinance.
- The technology is easy to adapt, uses phone devices that require very little training to use and sits on mobile connectivity, which is spreading rapidly across the globe.