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Managing Microfinance with Paper, Pen and Digital Slate

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.

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Managing Microfinance with Paper, Pen and Digital Slate

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  1. Managing Microfinance with Paper, Pen and Digital Slate Presented by: Anupam2007CS50211 Vikas Prajapati2007CS50189

  2. Contents • Introduction • Related Work • Problem Description • Solution Design • Results and Discussion

  3. Introduction Microfinance, Self Helf Groups and the Problem

  4. Microfinance • Financial services to low-income clients who lack access to formal banking • Provides access to credit, savings and insurance.

  5. Self Help Group Model • 10-20 participants per group • Support from NGOs, banks and government agencies • 86 million households; 6 million SHGs; $3.7 billion savings

  6. Problem: Quality of Record Keeping • Data Accuracy and Completeness • Process Efficiency • Only 15% complete, updated and accurate records • Diminishes the ability of the SHG to borrow money from financial institutions. • Debt/Equity ratio: 1.4 compared to maximum 4

  7. Related Work

  8. ICT For Record Management • 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.

  9. Data-Management By Semi-literate Users • Phone: Voice in voice out • IVRS: Text in Voice out • Menu Based: Graphic • SMS: Text in Text out • Enter electronic data through a natural UI involving writing.

  10. Paper-Digital Continuum • OMR/OCR like model. • Mobile phones to capture data from paper forms. • Digital pen • Plain paper • Special paper • All processing done on PC • No real-time feedback • Intuitive and natural UI required

  11. Problem Description Paper-only and Computer Munshi

  12. Existing systems • Paper-Only • Ledger maintenance • Heavy burden on the Writer • Inaccurate and Inefficient • Computer Munshi (CM) • PM/CM charge money • Long cycle period (~1 week) • Unexpected additional time

  13. Problems with Current System • Low Data Accuracy • Recording errors • Calculation errors • Legibility problems • Low Data Completeness • Low Process Efficiency • Error resolution • Transport delays • Extended meeting time

  14. Solution Design

  15. Design Considerations • Easily usable by Writers • Reliable and transparent to members • Functional in remote locations • Financially sustainable with user fees only

  16. Available Options for Input • Stylus, keypad or keyboards input • Voice input • Handwritten input with Digital pen

  17. What is Digital Slate? • Built Record Management software • Navigation using stylus • Digit recognizer (local language) • Computation logic • Speaker for audio feedback • Immediate error resolution

  18. Key Design Elements • Single point of data entry • Natural input mechanism • No need for manual calculations • Instant updates reported • Audio output for verification • Completeness checks

  19. UI Screen Shots

  20. Cost analysis

  21. Results and Discussion

  22. Results • Automatic calculations a big help • Immediate error correction • Transparency due to voice feedback • No time constrained physical movement of paper • Handwritten mechanism favored by users • Less recording time All key areas of concern addressed.

  23. Conclusion • More effort required to gain user acceptance • Comparable data quality and efficiency using purely electronic solution • Gradual shift from original user habits

  24. THANK YOU

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