Conversational Analytics / 30.06.2014

4 Tips to achieve Financial Inclusion and tap under-served markets

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As per the 2011 census,  only 14.5 crore out of the total 24.5 crore households in the country use banking services.  As per the recent news articles, the Indian Government is all set to launch Sampoorn Vittiyea Samaveshan (SVS), an ambitious new financial inclusion plan that would seek to bring banking services to the 10 crore uncovered households.  This financial inclusion plan is to be undertaken on a mission mode basis and involve spend of Rs 1,700 crore in a span of one year to accomplish the set targets.

It would also involve appointment of 60,000 new bank mitras (business correspondents).  Now, how can technology solutions help these mitras achieve Financial Inclusion by tapping under-served markets?

Here are some tips to help mitras achieve the goal:

  1. Automate customer onboarding – reduce sales cycles through real time data exchange between field agents & back-end business managers
  2. Simplify document collection – reduce manual document collection and processing with a high-resolution mobile scanner
  3. Eliminate fraud – solve identity theft by using innovative technologies like Voice Biometrics (VB).  VB can help authenticate customers within 15 seconds in 100% secure & hassle free way
  4. Expedite payment processing – gain better visibility of cash flows and diminish fraud with electronic payment collection tools

Uniphore has proven track record of helping MFIs, NBFCs, Banks and other financial institutions achieve higher profitability, tap under-served markets, reduce credit risk and improve overall productivity.  mForce, Uniphore’s mobility based field force automation solution, boosts sales productivity, reduces cost of operations and improves customer satisfaction through completely eliminating paper-based work-flow and simplifying data exchange between field agents and back end officers.  Our solution includes a powerful web interface for continuous field agent monitoring, easy dissemination of new forms, and rapid data collation and analysis.

Watch the 2 minute video below for more details (click here):

 

 

For more information, please write to me at ganeshrajendran@uniphore.com and I can explain in detail about how we help achieve Financial Inclusion by tapping under-served markets!

About Uniphore: Uniphore Software Systems is the leader in Multi lingual speech-based software solutions. Uniphore’s solutions allow any machine to understand and respond to natural human speech, thus enabling humans to use the most natural of communication modes, speech, to engage and instruct machines. Uniphore operates from its corporate headquarters at IIT Madras Research Park, Chennai, India and has sales offices in Middle East (Dubai, UAE) as well as in Manila, Philippines.