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SKS Microfinance

SKS Microfinance. Empowering the Poorest of the Poor to Become Self-Reliant. December 2002 Vikram Akula, Founder and CEO. Mission and Profile. Founded June 1998 Mission To Empower the Poorest of the Poor to Become Self-

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SKS Microfinance

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  1. SKS Microfinance Empowering the Poorest of the Poor to Become Self-Reliant December 2002 Vikram Akula, Founder and CEO

  2. Mission and Profile Founded June 1998 Mission To Empower the Poorest of the Poor to Become Self- Reliant by Sustainably Providing Financial Services Focus Poorest of the Poor in Drought-Prone Deccan Region of India

  3. Group-Based Grameen Methodology

  4. Achievements and Goals • Achievements Since 1998 • 4 branches • 314 village centers • 10,123 customers • $1.4 million disbursement • $680,000 loan outstanding • 99.9% repayment • 79% F.S.S. • Our Goals • Scale to 100,000 in Deccan by ‘07 • Franchise to 100 of the • poorest districts in India

  5. Context of Technology Innovation • Identification of Barriers to Growth - High Volume, Low Value • High Transactions Costs • High Risk • Identification of Key Element of Solution • SKS MAPS - Fully-Integrated, Fully-Automated MIS 3. Funders • CGAP (Pro-Poor Innovation Award Winner) • Grameen Foundation USA • Digital Partners (SEL Award Winner) 4. Other Awards • UC Berkeley Haas School Social Venture Competition Finalist • Stockholm Challenge Finalist • World Bank Development Marketplace Semi-Finalist

  6. SKS MAPS Framework – Designed for Scale

  7. SKS Portfolio Tracker - User Friendly • Highly Sophisticated User-Interface • Yet Intuitive and Easy-to-Use

  8. SKS Portfolio Tracker - Extensive Reports • Over 50 Customized Reports Following Best Practices

  9. SKS Accounts • Seamlessly Integrated with Accounts

  10. Smart Card/Palm Pilot Front-End • Reduces Time and Increases Productivity • Bottleneck to Productivity at Field Level • Smart Card as “Electronic Passbook” Reduces Time After Before

  11. Before Smart Cards • Still Large Scope for Error and Fraud • Still Delay in Portfolio Information Collection Sheet Print-Out Automated Manual Manual

  12. After Smart Cards • Single Data Entry Point Reduces Scope for Fraud & Error • Single Data Entry Point Speeds Information Flow Automated Automated Automated

  13. The Future: Smart Cards as Cash Substitute • For the Customer - Flexible Services • Credit linkages at local hospitals • Linking into proposed rural ATM networks • Lines of credit with local vendors • For the MFI - Cashless Microfinance using Phone Booths • For Other Uses - SKS WAVE, Digital Platform for e-Health….

  14. Questions? vikram@sksindia.com www.sksindia.com

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