Leveraging Ict 97 2003 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 97 2003 Version

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

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