Finance
Loan Collections & Reconciliation Solutions for Microfinance Operations
Digital Transformation | Mobility
Mobile solution on Android platform for collections and a Web based system for reconciliation.
We have built a close partnership with SEAANT – not the typical vendor customer relationship. They actively collaborate with us to develop Apps that are deployed with our field organization. These Apps have helped us to move from paper based processes to an almost 100% digital process resulting in speed, accuracy and higher information efficiency.
A leading microfinance institution with more than 200 branches across four states in India. Payments from the customers based on Indian rural markets are collected in cash by field staff and there was some delay in payments reaching the company, raising concerns of misappropriation of funds.
A mobile solution was developed to automate the collection process, with easy to use interface supporting local languages to capture data. It will also generate reports and confirmation receipts and send to the stakeholders. The web based reconciliation system monitors if there are any discrepancies in collections versus the bank challans.
Both these applications today seamlessly handle over 5 lakhs transactions every month.
