LS Subramaniam

erosjellySécurité

23 févr. 2014 (il y a 3 années et 4 mois)

61 vue(s)


Cloud Computing

for

Financial Inclusion

By


L. S. Subramanian

@
lssubramanian


Agenda


Financial Inclusion


The ICT Challenge


MOOC and Financial Literacy


Benefits of Cloud


Ekgoan


Janalakshmi



NABARD


IDBRT Community Cloud


Global Experience


Financial Inclusion

Financial Inclusion is

the 2nd wave of Indian Economic Reforms

It will financially empower every citizen of
India transforming India into a Global
Economic Powerhouse
.

Underbanked

Courtesy : Wall Street Journal

Financial Inclusion


Statistics
-

NSSO


45.9

million farmer households do not
access credit
(51.4%)
,

out of a total of
89.3

million households


Neither from institutional or non
-
institutional sources.


Only 27% of total farm households are
indebted to formal sources



9% of total farm household also
borrow from informal sources.


73% of farm households do not have
access to formal credit sources.


FI


Minimum Delivery

1.
Savings

2.
Bank Accounts

3.
Insurance

4.
Financial Literacy

5.
Payment and Remittance

6.
Affordable Credit


FI
-

Delivery Models

1.
Mobile Banking
-


Focused on micro
-
banking &
savings solutions.

2.
Money Service Provider

Non
-
banks offering banking
services

3.
M
-
Wallet

Non
-
Banks offering
integration of services

4.
Low Cost Branch Channels

Banks using lower
-
cost
agents as branches


ICT Challenge


Can we deliver ICT solutions to get the poor

on to the road to financial literacy ?


Can we leverage on cloud computing & faster
mobile connectivity for reliable transactions?


Can we use cost effective end point devices?


Can we move from cash to a digital wallet ?


Can Indian ICT companies deliver solutions

on a pay per use model at the lowest cost?


Can Indian ICT companies deliver to 40 million
citizens @ 40 paisa per transaction
?

.

MOOC & Financial Literacy


MOOC to educate and test the
Banking Correspondence on the
field


MOOC to educate the customer on
the basics of finance by videos &
online self assessment.


MOOC


Massive Open Online Courses

Benefits of Cloud


Reduced cost (OPEX)


No expensive hardware, software or
skilled staff to maintain it & no cost
for software upgrades


Access to sophisticated computing


Scalability



Security



Backup



Multiple redundancy capacity



Time to Market / Agility


SMAC the new driver


Door
-
Step Financial Services to Un
-
banked

Financial Inclusion Services Solution

The solution includes a One
Mobile


application with biometric scanner connected to mobile phone (supported in
smart phone only), that interface with One
MIS

framework for authenticating secured transactions. Mobile phone act
as a point of sale terminal for Business Correspondents and all transactions are secured using biometric scanning. All
transactions are recorded, encrypted and transferred to ek
gaon
//Bank servers. Client gets transaction receipt
generated over bluetooth connected portable thermal printer and SMS (if required)

Mobile Phone with Biometric
Scanner/Reader
-

Allows Client Enrollment

Authentication of financial
transactions

OneCard: Smart Cards for clients

Portable Bluetooth Printer

Technical Architecture of the
Financial Services
Delivery

Janalakshmi



Janalakshmi

('People's Wealth'), is a 'social business'.


It embraces market principles while pursuing a social objective.


JFS is a for
-
profit NBFC serving the urban underserved, with the
promoter stake held in the not
-
for
-
profit entity
Janalakshmi

Social Services, with the deliberate intent of keeping the social
spirit intact.


JFS market
-
based approach to financial inclusion is defined by
three distinct characteristics:

1.
Servicing the needs of the urban poor.

2.
A strong customer
-
value driven approach.

3.
Technology and processes as the foundation of a scalable
enterprise.


Janalakshmi



Janalakshmi

was one of the early adopters of Cloud
Computing.


The Collection executive is provided with a hand
-
held
POS Terminal, which enables to book a transaction in
the field and provide a printed receipt.


The Area Manager is similarly empowered with the
progress of sourcing and collections in his area
through the CRM Application


Janalakshmi's

three tier technology framework work
together to
fulfill

the company's key value drivers of
customer satisfaction and operational excellence




Janalakshmi




The IT architecture comprises of the technology
services & infrastructure.


The core banking system (CBS) complemented by the
CRM application drives the business processes of the
company.


The Smart Card interface with CBS and CRM to cater
to the needs of the customer.


Janalakshmi

Architecture

NABARD

As on 24 October 2013, 6515 branches have been brought under CBS platform
.

IDBRT
-

COMMUNITY CLOUD


IDRBT has launched
Meghdoot

a
pilot community cloud for Indian
banks to provide Infrastructure as a
Service (IAAS).


Banks in the Pilot


Andhra Bank


Syndicate Bank


Allahabad Bank


Canara

Bank


Corporation Bank


Bank of India

Global Experience


Brazil


Banking is provide through agents called Banking
Correspondents (BC); In 1997 , 40 million out of
62 million Brazilians did not have access to
financial services.


In a decade 1,50,000 BCs' cover more the 60% of
the customer services points and in the period
2000 to 2008 the number of bank accounts
increased from 63.7 million to 125.7 million.


Global Experience


Kenya


Mobile banking with its M
-
PESA implementation.



No Bank Account, the mobile company acts a
banker keeping the transacting money


Money stored in the mobile phone does not
earn any interest and is not cash.


The M
-
PESA was launched in 2007 by
Safaricom

& Vodafone and the transactions had a cap of
$500 and included more than 17,000 agents


The client base has crossed 10 million
customers about 40% of the population.


Global Experience


Mexico



Microfinance route for FI by providing micro credit
and similar financial products funded by private
capital with investment in technology and resources .


The microfinance for profit behemoth
Compartamos
.
has 1.5 million clients and is the largest microfinance
institution (MFI) in Latin America.


The interest rates are usurious at more than 100
percent per annum, and there have been compliance
issues with
Compartamos
.


But it is a success story of innovation, efficiency and
tight cost controls and is efficient at training and
managing a very de
-
centralised base of loan officers.


.


Global Experience


South Africa


The Central Bank mandated 5 banks to launch the no
-
frills
banking with no monthly fees and 5 free transactions in a
month and it was named as "
Mzansi
" in 2004 .


South Africa is one of the most expensive banking markets
and the Government devised the
Mzansi

scheme to provide
affordable financial inclusion.


The adoption of
Mzansi

has been limited to 6 million in a
population of 32 million, only 3.3 million accounts were
active, with an usage rate of only 58 percent used for
transfer of money and payment of bills and remittance of
salary.


Once the 5 transaction were exhausted the additional
transactions were charged at regular banking rates which
were exorbitant for the poor.



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/

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