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Software Group - Technology-Enabled Financial Inclusion Solutions 17th Microcredit Summit 2014 Summit
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#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Technology-Enabled Financial Inclusion Solutions:
Presenter: Josephine Wainaina
Business Analyst
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
AgendaAbout Software Group
What Is e-Recording
e-Recording Background
e-Recording Benefits To Groups
e-Recording Progress To Date
A Look Inside e-Recording
e-Recording In Use
Initial Challenges
Next Steps
How To Access e-Recording
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
About Software Group
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
What is e-Recording?e-Recording is an android application used by savings groups to manage their book keeping
Designed to provide an alternative to the manual ledgers and passbooks
Runs on low cost smart phones in offline mode with sync options to a portal for backup and reporting purposes
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
e-Recording Background
The Project was initiated by Financial Sector Deepening Kenya (FSD) in 2012, with Care and CRS as pilot implementation partners
Designed based on extensive knowledge of the VSL and SILC methodologies, with specifics validated through group visits and prototypes. Principles of simplicity and ease of use built into the design
The project is seen as one step towards moving groups to a digital financial service, eliminating both cash and physical records
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
What Are The Benefits To The Groups?Maintains accurate and up to date financial records Eliminates manual calculations of loans and loan repayments Supports the share out process with auto calculations of amounts due to each memberProvides real time reports for group members, trainers and supervisorsStandardizes group administration and upholds the rules of constitution throughout the group transactionsProvides a secure backup of group records through the online portal
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
E-recording Progress To DateFSD Kenya- Initial pilot phase successfully closed with more than 100 groups trained and using the application. FSD Kenya- Phase 2 initiated with aim to scale up the usage to at least 6000 groups by end of 2015FSD Zambia- pilot project underway to rollout to 20 groupsWorld Relief- with AFR funding e-Recording app was translated to Kinyarwanda for use in RwandaGates Foundation- as part of the DFS platform e-Recording will be adjusted to operate with a mobile wallet
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
A look inside
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Menu Overview
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Group and Cycle Creation
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Member Registration
11
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Constitution Summary
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Meeting Management – Attendance Register
13
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Meeting Management – Bank/Cash Register
14
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Meeting Management – Contributions & Fees
15
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Meeting Management – Loan Issue
16
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Meeting Management – Loan Payment
17
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Meeting Management – Group Income and Expense
18
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Meeting Management – Member Exit
19
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Meeting Management – Meeting Summary
20
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Share Out
21
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
in use
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Savings Group meeting about to start - Zambia
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
e-Recording training session
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Happy to learn a new skill - Zambia
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
The old and young not left behind - Kenya
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
A group meeting in Kenya
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Initial ChallengesVariations of the methodology under different FAs which complicated the process of standard requirements for the appLack of understanding of the methodology by some groups and/or non standard practices which then conflicted with the rules enforced by the appLanguage barrier between the members and the trainersDifficulties in using smart phones by group membersConcerns of group members over transparency of using the app
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Next StepsDevelopment of an E-toolkit that will include training material that will be beneficial to groups such as video demos of usage of the application, training of VSLA and SILC methodologies etcRollout of Phase 2 of the application in Kenya, adding more functionality including SMS, property management and improved usability. Ongoing pilots in Zambia and RwandaIntegration with financial institutions or m-wallet so that groups have options to store cash with a formal financial institutionCare plans to use e-Recording data to build credit scoring information for group members
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
How to access the application
1. Register a Gmail account
2. Access Google Play store
4. Install the application
5. Play with it!7. e-Recording phase
II developmentMore features added to the application
3. Search for application named
e-Recording
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
Watch it in action
https://www.youtube.com/watch?v=WeHyQc76pEo
Quotes from Care Cosalo Project Members (Kenya)‘it makes our work much easier’‘keeps our records clean’‘ it helps us remember our rules and laws’‘ in case of loss or damage or data we can easily recover it from the internet’
#17MCSummit
17TH MICROCREDIT SUMMITGENERATION NEXT: INNOVATIONS IN MICROFINANCE
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Thank you for the attention
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