managing microfinance with paper, pen and digital slate

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Managing Microfinance with Paper, Pen and Digital Slate. Presented by: Anupam 2007CS50211 Vikas Prajapati 2007CS50189. Contents. Introduction Related Work Problem Description Solution Design Results and Discussion. Introduction. Microfinance, Self Helf Groups and the Problem. - PowerPoint PPT Presentation


Managing Microfinance with Paper, Pen and Digital Slate

Presented by:Anupam2007CS50211Vikas Prajapati2007CS50189Managing Microfinance with Paper, Pen and Digital Slate11IntroductionRelated WorkProblem DescriptionSolution DesignResults and Discussion2Contents23IntroductionMicrofinance, Self Helf Groups and the ProblemFinancial services to low-income clients who lack access to formal bankingProvides access to credit, savings and insurance.

4MicrofinanceThe main challenges:Fixed cost incurred by banks for managing each accountCollateral410-20 participants per groupSupport from NGOs, banks and government agencies86 million households; 6 million SHGs; $3.7 billion savings

5Self Help Group ModelSHGs used to tackle the first problemEach SHG connects its members to the financial institutions5Data Accuracy and CompletenessProcess EfficiencyOnly 15% complete, updated and accurate recordsDiminishes the ability of the SHG to borrow money from financial institutions.Debt/Equity ratio: 1.4 compared to maximum 46Problem: Quality of Record Keeping To tackle this problem this paper aims to present a low cost digital record management system which people would use with little training67Related Work Camera-enabled mobile phones, Simputers, handheld devices, palm pilots, J2ME applications on Java phones, Laptops.Low financial viability of all these systems.No deployment of scalable model.Paper based system preferred by the users.8ICT For Record ManagementPhone: Voice in voice outIVRS: Text in Voice outMenu Based: GraphicSMS: Text in Text outEnter electronic data through a natural UI involving writing.

9Data-Management By Semi-literate UsersResource constraint9OMR/OCR like model.Mobile phones to capture data from paper forms.Digital penPlain paperSpecial paper

All processing done on PCNo real-time feedbackIntuitive and natural UI required10Paper-Digital Continuum11Problem DescriptionPaper-only and Computer Munshi

12Existing systemsPaper-OnlyLedger maintenanceHeavy burden on the WriterInaccurate and InefficientComputer Munshi (CM)PM/CM charge moneyLong cycle period (~1 week)Unexpected additional time

Supported by NGO PRADAANRMTS: Regular Meeting Transaction Statement12Low Data AccuracyRecording errorsCalculation errorsLegibility problemsLow Data CompletenessLow Process EfficiencyError resolutionTransport delaysExtended meeting time13Problems with Current SystemMajor Constraint: CM not possible at every placeError reconciliation both difficult and time taking2-3 weeks for error correction1314Solution DesignEasily usable by WritersReliable and transparent to membersFunctional in remote locationsFinancially sustainable with user fees only15Design Considerations15Stylus, keypad or keyboards inputVoice inputHandwritten input with Digital pen

16Available Options for InputBuilt Record Management softwareNavigation using stylusDigit recognizer (local language)Computation logicSpeaker for audio feedbackImmediate error resolution

17What is Digital Slate?

Battery driven with processing abilities.17Single point of data entryNatural input mechanismNo need for manual calculationsInstant updates reportedAudio output for verificationCompleteness checks18Key Design ElementsSimultaneous generation of paper and electronic recordsHandwritten entryAutomated calculation = 0 calculation errorsNo remote processing and wastage of timeTransparency for other members of the SHGEnforces completeness1819UI Screen Shots

20Cost analysis

Roughly equal cost estimates2021Results and DiscussionAutomatic calculations a big helpImmediate error correctionTransparency due to voice feedbackNo time constrained physical movement of paperHandwritten mechanism favored by usersLess recording time

All key areas of concern addressed.22ResultsMore effort required to gain user acceptanceComparable data quality and efficiency using purely electronic solutionGradual shift from original user habits23Conclusion24THANK YOU