Your Success is our Success
We are proud to be associated with innovative and leading MFIs—operating in 30 countries around the globe—who are helping to combat poverty by providing the poor with access to basic financial services. And we are proud that our state-of-the-art Kredits technology is helping each of these MFIs build their operation and grow their profits.
Some of our implementations:
Case Study #1
MFI description: Grameen Lending Institution
Business Operating Challenges: When first approached, this institution was already very well organized from a business process and work flow perspective. All client-related information was diligently and meticulously collected on paper by the loan officers and branches and then subsequently keyed into summary spreadsheets at the head office. However, this manual process created significant operational inefficiencies, was the principal cause of any loss of data integrity, and most importantly severely constrained their ability to grow their efforts towards their clients on an efficient, scalable and sustainable basis.
Kredits implementation: Upon request, Kredits engaged in a proactive, collaborative dialogue with the MFI’s senior management and key personnel with the foremost objectives of first understanding their business operations and overall objectives and to thereafter create a strategy and an execution plan for implementing the necessary technology solutions as well as any related enhancement of their excellent work flows. The principal features of this collaborative effort were:
✓ Quantified and developed an implementation plan in close collaboration, designed to
secure a successful implementation in 2 months
✓ Identified the need and facilitated an enhanced level of technology solution for the
Grameen methodology employed by the MFI in Kredits
✓ Developed customized reporting solutions for the MFI’s specific needs for better client
engagement, client risk management and general management reporting across the
organization
✓ Facilitated the secure, safe migration of all business data from 12 different branches
without any loss of data integrity within the agreed timescale – one month
✓ Organized and provided on-site training to all management, HQ, branch & field personnel
to ensure a smooth transition
✓ Implemented Kredits SQL technology consistently and without increasing IT overheads
across all 12 branches
✓ Analyzed and reorganized operating procedure documentation to reduce the documentary
steps in the lending cycle from 40 to 20
✓ Analyzed and subsequently enhanced the overall levels of internal and management
controls
Results: Following the successful implementation of the Kredits technology and business process engineering solutions, the MFI was able to reduce their overall client service-related operations from 24 man hours to 2 man hours. This in turn released valuable resource capacity to focus on their efforts to grow their outreach and level of products & services to their clients. Prior to adopting the Kredits solutions, the MFI was servicing 20,000 clients across 12 branches. Today, some 5 years later, the MFI has successfully accelerated their business growth and service over 250,000 clients across 100 branches using the same technology solutions.
Case Study #2
MFI description: Grameen Lending Institution
Operational challenges: Loan disbursements were made using manually prepared checks which required considerable amount of time, resource and expense. This manual, paper-based process also resulted in frequent errors resulting in increased cost of operations. In addition, the MFI’s bank statements did not provide sufficient detail to help identify the clients who had received their disbursements or made repayments and which checks had or had not cleared.
Kredits implementation: Upon an invitation to participate in an RFP process, Kredits supplemented this process with a detailed analysis of the MFI’s business operations and specifically the challenges that the MFI was encountering with the manual and increasingly costly loan disbursement process. Following a detailed feasibility assessment and report, which also helped the MFI to further refine their RFP request, Kredits entered into a collaborative effort with the senior management of the MFI, aimed at implementing the required business process engineering and technology solutions. The principal attributes of this collaborative effort were:
✓ Quantified, developed and executed an implementation plan with specific objectives and
a completion time of 5 weeks.
✓ Organized and executed an on-site implementation plan that included migrating client &
business data across 5 branches
✓ Identified, developed and implemented customized technology solutions to automate the
MFI’s loan disbursement and repayment collection operations including the development
of MFI specific collection forms
✓ Specified and provided MFI-specific education and training programm for all senior
management, HQ, branch and field personnel
✓ Identified and facilitated faster product & service development using Kredits flexible data
parameterisation capabilities
✓ Enhanced the overall business work flows and processes throughout the credit cycle as
well as improving management & internal controls
✓ Developed and implemented automated processes for daily bank account reconciliation
tasks
Results: As a result of adopting the Kredits solutions, the MFI was able to greatly simplify its product terms and realize increased process efficiencies and accuracy throughout the lending process. The new, automated check-production facilities resulted in more timely and accurate reconciliation, as well as accounting reports. The time taken for the collection process was significantly reduced, enabling loan officers to quickly and easily determine which clients disbursements and repayments were scheduled for any given day. In addition, the accuracy of collection information increased dramatically, resulting in more rapid processing of information using the Kredits technology. Our MFI partner has since been able to increase their outreach and provide their financial services to over 23,000 active clients.
