Case Study

FinTech

Empowering CRISIL Foundation to spread their financial inclusion across large number of beneficiaries in a short time
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Background

In their quest to empower women self-help groups (SHGs) in Assam, CRISIL Foundation in collaboration with their field partner, aimed to reach over 100,000 beneficiaries with a financial inclusion program. Their goal was to provide customized financial counseling and then link these groups with valuable government schemes. However, they faced significant challenges to which we provided innovative solutions that enhanced their program’s efficiency and impact.

Sector:

Financial Inclusion

Date:

19th Jan 2021 till present

Project

Assisting Crisil foundation in making their financial inclusion program more efficient and impactful.

Partners

Challenges Faced

Data-collection

To reach large number of beneficiaries that were spread across 100s of villages across Assam was a logistical nightmare in daily management and coordination of 140+ field representatives

Customized-counselling

Manual data collection meant not only using lot of paper, but also compromising on data accuracy, validation, & mistakes creating inconsistent and inaccurate database

Field-reporting-and-coordination

Post data collection and validation, creating and imparting customized financial counselling to each household was extremely time-consuming

Data-validation-and-quality-control

Due to widespread and high-volume nature of work, getting real-time information and making data-driven decision-making to improve project outcomes was a challenge

Our Tech Solutions

We developed a easy-to-use smartphone apps that automated data & locational validity. The app also worked in both online and offline mode, ensuring its workability in areas with no or weak mobile signals. With real-time data-updates, we developed detailed dashboards and reports that helped them to monitor their program-impact, while our SHG rating system drove targeted capacity building.
Data-collection

Simplified Data Collection

Created easy to understand smartphone apps that helped in collecting data

Tracking

Tracking Progress

Created a SHG rating system to help select and plan capacity building

Monitoring-growth

Monitoring Targeted Growth

Created dashboards and reports for monitoring outcomes and impact

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Benefits

Our cutting-edge tech solutions led to a transformative journey for the client, resulting in remarkable benefits. The financial inclusion program’s estimated time was reduced, enabling swift and efficient service to a larger number of beneficiaries.
Health-Cards

Personalized Financial Health Cards

Enabled creation of easy to read and customized financial health cards for each households

Recognition

Renowned Recognition

Our sponsors and implementation partners were able to get a small banking license from RBI and award from the Government of India for the project

Data-Driven

Data-Driven Insights

Better data quality led to accurate analytics and representation of the needs to better align with the government programs

Reduced-Timeline

Reduced Timeline

Reduced the estimated 6-month time by 40%

Sustainable-Efficiency

Sustainable Efficiency

Substantial saving of 5 Lakh+ paper sheets and logistic efforts

Social Impact

Bank-guidelines
RBI issued guidelines to all banks to focus on the North-Eastern Region

1,70,000 SHGs

Covered in Rajasthan, Assam and Maharashtra creating financial inclusions for many households implementing similar programs with our apps

5 Lakhs+

Paper sheets and logistic efforts saved, which reduced substantial carbon footprints
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