Microfinance Institutions Smart Card based Solution for Microfinance Institutions

Microfinance Business Characteristics High operating costs High staff costs High volume, low value multi-product portfolio Spread across a wide geography Need for timely and accurate information

Microfinance Business The challenge: To improve operational efficiency, to reach out to larger numbers across wider geography and to reduce operational costs.

What is DolFin? DolFin is a comprehensive smart card based transaction automation solution, first of its kind in the country. DolFin is a customizable solution to address the challenges faced by Microfinance Institutions.

Advantage DolFin Reduces the time required for Collections Increases Productivity Reduces duplicate data entry Provides up-to date and timely information Provides savings on Staff and Operational costs

DolFin Components Each member is issued a personalized smart card. Each Field Officer is provided with a Hand Held Terminal

DolFin Components Each Branch will have a Computer Application. A Central Server

Architecture Smart Cards Branch Application Head Office Application Upload Transactions Transactions Download Collection Information Branch Application Personalization Download Configuration Head Office Application Central Server Hosted On Upload Transactions

Features Configuration module Transaction module Reports module Personalization module

Modules Configuration module Transaction module Reports module Personalization module

Configuration Module Business Rules is configured at HO PC The Configuration is transferred to the Central Server The Configuration file is then imported into the PC Application at the branch

Configuration Module Organization Configuration Products Configuration Business Rules Configuration

Configuration Module Organization Configuration Products Configuration Business Rules Configuration

Configuration Module Organization Configuration Multiple Organizations Define Levels Define Locations Define organization wide Roles Define Privileges for Roles

Configuration Module Organization Configuration Products Configuration Business Rules Configuration

Configuration Module Configuring Products I. Loan Products Define Loans Name Parent Loan Product MFI Locations Sectors and Purposes Linked to Loans

Configuration Module Configuring Products I. Loan Products Define Loan parameters Loan Amount Tenure Multiple interest rates Interest Type (Flat, Declining Balance) Multiple Cycles Moratorium Compulsory Savings Fees

Configuration Module Configuring Products II. Savings Products Define Savings Name Parent Savings Product MFI Locations

Configuration Module Configuring Products II. Savings Products Define parameters for Savings products Optional/Compulsory/Fixed Type Savings Amount Tenure Interest Type (Simple, Compound) Interest Rate

Configuration Module Organization Configuration Products Configuration Business Rules Configuration

Configuration Module Business Rules Configuration I. Loan Products Loan Eligibility criteria Minimum Membership tenure Pre-requisite Loans/Savings Member Attendance Prepayment/Foreclosure policy Service charge (% or amount rule) Minimum ‘wait’ period for foreclosure Part payment/default policy Loan Closure/Write-off

Configuration Module Business Rules Configuration II. Savings Products Savings Eligibility Criteria Prepayment Policy Withdrawal Policy

Features Configuration module Transaction module Reports module Personalization module

Transaction Module Collection and Visit details are downloaded onto the Terminal Transactions carried out in the field are recorded in the Terminal Transactions are uploaded from the Terminal to the PC Application PC Application generates a Transaction file The Transaction file is then uploaded to the Central Server

Transaction Module Member Management Group Users Creating, Modifying Creating, Linking to Center Users Creating, Assigning Roles

Transaction Module Loan Disbursement Field Visit Schedule Creating, Copying Loan Rescheduling Changing Dates, Principal, Interest, Penalty, Moratorium

Transaction Module Loan Repayment Collection Using the Terminal Auto mode Manual mode Using the PC Application Savings Deposits and withdrawals Interest Calculation for Savings Penalty and Fee calculation

Features Configuration module Transaction module Reports module Personalization module

Reports Module Can log onto the Central Server to view Reports for the entire Organization Reports pertaining to the Branch are available through the Branch Computer Application.

Reports Module Location Specific as well as Consolidated Reports Flexible Selection Criteria User defined labels, header & footer

Reports Module General Reports Loan Reports Savings Reports

Reports Module General Reports Group Report Repayment Schedule Field Schedule Member Information Report Joined Withdrawn Replaced

Reports Module General Reports Individual Ledger Collection Sheet Day Wise Summary Sheet Delinquent Loan Details Sector Master List Location Master List Audit Trail

Reports Module Loan Reports Loan Disbursement Full Paid Loans Report Disbursement & Collection Disbursed, Fully Recovered & O/s Loans Portfolio at Risk Ageing Report of Portfolio at Risk Loans Written Off

Reports Module Savings Reports Fixed & Mandatory Savings Report Maturing Fixed & Mandatory Savings Report Savings Concentration Report

Features Configuration module Transaction module Reports module Personalization module

Personalization Module Member Details Product Pouches Security

DolFin Features SQL Server database at the Central Server MSDE database with the Branch PC application State-of-the-art and easy-to-use Hand Held Terminals Smart Cards that can hold SIX different products at a time User friendly Interface in both the PC application and the Terminal Flexibility and Scalability of the System

System Requirements Central Server PC at the Branches Connectivity between the PCs and The Central Server Hand Held Terminals for the Project Assistants Smart Cards for the members Central Server, PC and Terminal Application (DolFin)

Benefits Can significantly lower operating time and increase productivity Can reduce costs related to stationary - manual reports, ledgers and charge slips Can reduce data entry errors

Benefits Up-to date and Timely availability of information to the management Can provide flexibility in defining products Smart cards can be used as ID cards