2. Banking in remote rural India Rural customers have different financial needs Low value Frequent transactions Need to customise current model to take care of: Several proximate touch points Unreliable connectivity at last mile Investment in local human resource High monitoring for some portfolios Unique transactional environment Local language interface for customers No systematic way to record credit history Challenge to provide KYC documents
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4. Simulates 100 possible wealth paths of a household and picks the best and the worst possible pathways
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7. Kshetriya Gramin Financial Services To provide financial services to underserved rural areas Financial services offered are: Loans Insurance Money market mutual fund Remittances Each KGFS to operate in two districts or cover 5 mn population Ownership for maximising the financial wellbeing of the clients Thin level branch at village level Strong back office with technology infrastructure
8. Key applications of technology Customer unique identification To record credit history Enables dedupe process Profiling and continuous updation of customer household data To build scoring models To develop new products To understand the impact of usage Equip frontline staff to do financial planning Enhance collateral management Building systems to scale
