Financial inclusion remains a significant challenge in developing economies , particularly for underbanked women in rural areas. Belstar Microfinance (Belstar MFI), a NonBanking Financial Company – Microfinance Institution (NBFC-MFI), aims to bridge this gap by providing affordable credit and fostering entrepreneurship among over 3.5 million women in rural India.
Though Belstar is a NBFC-MFI, we operate like a small size bank in terms of large no of customers and processing huge volume of transaction on daily basis. 2.8 million active borrowers, 3 million collection transactions per month, 0.2 million monthly customer on-boarding – these convey the volume of transactions we deal at Belstar. Our 1000+ branches and 7000+ field force is spread across 18 states across India.
Our field force who are on-road to on-board and serve customer every day to ensure financial inclusion for our customers. They need to have access to many data pointers when meeting our customers. Also, curated actionable insights were needed for them deliver focused service to our customers.
However, we found the traditional methods of empowering our field force with customer and business data proved inefficient and inadequate and hinder their ability to effectively serve our customers.
Let’s find out how our digital transformation journey through the development of StarHub, a mobile application designed to address these challenges. It delves into the pain points, the solution implemented, and the remarkable benefits achieved.
UNDERSTANDING THE PROBLEM
Bu hikaye Banking Frontiers dergisinin June 2024 sayısından alınmıştır.
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Bu hikaye Banking Frontiers dergisinin June 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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