SKS Microfinance adopts mobile solution for loan transactions

The technology has cut the time on loan processing and disbursal, while increasing data security

IBM announced Wednesday that it has successfully completed deployment of IBM MobileFirst solution for SKS Microfinance Limited.

SKS has partnered with IBM to transform operations from paper-based processes to a mobile solution, resulting in enhanced customer service and productivity gains, according to the company.

The organisation relies on 5,456 loan officers based out of 1,135 branch offices, to acquire new members, disburse loans, ensure loans are well utilised and collect repayment. These loan officers earlier used manual, paper-based processes to keep track of loans and enter that information into a shared branch computer, which was very time consuming.

"Not only has productivity of the loan officers improved, security of the company's data has been strengthened and the turn-around on loan application and disbursal process has reduced," the company said in a statement.

The solution included provision and deployment of 7,000 tablets across India, a help desk to manage these devices and software and services. SKS said.