Leveraging Ict 2007 Version

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Presentation Made in ET Banking IT Conclave 2009 Mumbai and CII Connect 2009 Chennai. This is without Videos.

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Leveraging Ict 2007 Version

  1. 1. Leveraging ICT for social inclusion<br />Dr. Nachiket Mor<br />
  2. 2. Banking in remote rural India<br />Rural customers have different financial needs<br />Low value <br />Frequent transactions<br />Need to customise current model to take care of: <br />Several proximate touch points<br />Unreliable connectivity at last mile<br />Investment in local human resource<br />High monitoring for some portfolios<br />Unique transactional environment<br />Local language interface for customers<br />No systematic way to record credit history<br />Challenge to provide KYC documents<br />
  3. 3. Financial Planning – Life Wealth Envelope<br /><ul><li>Developed as a training tool and draws parallels from a flight simulator
  4. 4. Simulates 100 possible wealth paths of a household and picks the best and the worst possible pathways
  5. 5. Attempt is to push the lower-bound line upwards using financial products</li></li></ul><li>Pilot landing on Hudson saving lives<br /><ul><li>Setting the context right
  6. 6. Training/simulations prepare you for real life challenges infact save lives </li></li></ul><li>Low Income Wealth Envelope<br />
  7. 7. Kshetriya Gramin Financial Services<br />To provide financial services to underserved rural areas<br />Financial services offered are:<br />Loans<br />Insurance<br />Money market mutual fund<br />Remittances<br />Each KGFS to operate in two districts or cover 5 mn population<br />Ownership for maximising the financial wellbeing of the clients<br />Thin level branch at village level<br />Strong back office with technology infrastructure<br />
  8. 8. Key applications of technology<br />Customer unique identification<br />To record credit history<br />Enables dedupe process<br />Profiling and continuous updation of customer household data<br />To build scoring models<br />To develop new products<br />To understand the impact of usage <br />Equip frontline staff to do financial planning<br />Enhance collateral management<br />Building systems to scale<br />
  9. 9. Customer Unique Identification<br />Capturing Fingerprint Biometric for authentication <br />
  10. 10. Profiling and continuous updation of data <br />
  11. 11. Enhance collateral management <br /><ul><li>Using RFIDs to identify cattle for Insurance
  12. 12. Cattle health details capturing through Veterinary application
  13. 13. Reduction in premium on account of reduced moral hazard
  14. 14. Technology to track the movement of collateral like Trucks / LCVs
  15. 15. Reduction in LGDs through enhanced monitoring</li></li></ul><li>Building systems to scale<br /><ul><li>Flexcube- core banking system
  16. 16. Cost effective ASP Model
  17. 17. Secured and state of the art data center
  18. 18. Multiple fallback/ DR site
  19. 19. Access over internet/intranet
  20. 20. Customer Management System
  21. 21. Offline/online mode of operation
  22. 22. Modular approach to add product functionality
  23. 23. Multiple entities support
  24. 24. Access over internet</li></li></ul><li>Areas for partnership<br />Optimal way of using biometric to identify customers<br />Low cost computing and data entry devices<br />Connectivity in remote rural areas/ mountainous region<br />Low cost structures for cash management services<br />Mobile phones as an interface for financial services<br />
  25. 25. Thank You<br />

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