Technology

As a pioneer in the use of technology to the microfinance sector, Janalakshmi's focus on innovative technology solutions is central to the company's mission. Early on, Janalakshmi made an investment to define and document the processes of the core business life cycle. Beginning with the customer acquisition phase, loan disbursement, collection phase, and finally the closure phase, the mapping of processes identified the vital role of technology in driving business processes. These documented procedures now ensure that standardization, improvement, and compliance are implemented in all levels of the company.

Janalakshmi's technology infrastructure is defined by a three tier framework. At the foundation lies the IT architecture comprised of the technology services and infrastructure. The architecture enables growth and ensures scalability of the business. Next, the core banking system (CBS) complemented by the CRM application drives the business processes of the company. Finally, delivery mechanisms such as the Smart Card seamlessly interface with CBS and CRM to cater to the needs of the customer. Each tier of the system work together to fulfill the company's key value drivers of customer satisfaction and operational excellence.

Equipped with a best in class loan management system, a seamless information system and a transaction engine to support efficient service delivery, Janalakshmi is poised for rapid growth.

CBS

The core banking system (CBS) is the "industrial strength backbone," of Janalakshmi's technology architecture. CBS is a global technology solution product customized for the microfinance sector. It provides the robust and scalable back-end database for the financial information of the business.

Smart-Card

The Smart Card is a biometric enabled multi-function personalized card provided to customers upon enrollment. A Smart Card serves as proof of identity and an electronic pass-book for customers. It enables automatic creation of customer records and also allows for automatic updates of disbursements and collections. With the capability to service multiple products, the Smart Card will be the transaction engine used for future product implementation.

CRM

Janalakshmi utilizes a CRM application to streamline the collection process from the customer acquisition to the collections phase. This customized solution allows for one data set for all to view and enables management to update on a real time basis.

Benefits

Each of these technology solutions empower our personnel to improve processing turnaround-times, implement effective monitoring and recovery of loans, and ensure customer satisfaction. Additionally, the company can reduce the costs and complexities associated with a cash-based transaction environment, intrinsic to the microcredit world.

Upcoming Plans

Create a single and uniform information system based on processes and procedure. This web based 'Portal' will host the CRM applications and organization wide processes and documents. The portal will enable all location offices to access the application and data seamlessly
Provide a reliable and consistent IT Infrastructure through the implementation of a Network and Security management system. This includes the implementation of an Enterprise Data Storage solution for corporate data requirements
Improve the MIS capability through a robust solution
Implement an additional delivery channel interfaced with CBS and Salesforce.com. This is to be accomplished through mobile phone based solutions particularly for the collections and customer update requirements