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Hexagon Provided a Solution for ESAF that Digitized their Process

Hexagon Provided a Solution for ESAF that Digitized their Process

Background

ESAF Society was launched with a bigger vision of sustainable holistic transformation of the poor and the marginalized by K. Paul Thomas, the Founder and Managing Director of ESAF.

As a Microfinance and Investments, ESAF was unique in manifold ways. Community ownership, higher proportion of female field staff, integrated approach etc. were some of the features, which distinguished the organization as a socially focused entity. The business model of the Organization combined the unique methodology of selecting and servicing customers at the front end with technology, processes & disciplines of modern retail banking at the back end.

In 2015, the Reserve Bank of India, the financial regulator in the country has granted in-principle license to ESAF to launch a Small Finance bank. ESAF Small Finance Bank was one amongst the ten NBFCs to receive ‘in principle’ approval from the Reserve Bank of India (RBI) for setting up a Small Finance Bank in the private sector. In November 2016, the final license was issued by the RBI. ESAF Small Finance Bank was incorporated on May 05, 2016, with its registered office in Thrissur. 

Objective 

ESAF wanted to digitize the old process which was more tedious, time consuming and labor intensive. The objective was to focus on making the system easy and to establish access to reliable basic services. The idea was to build a project in such a manner which is less time taking and suits the customers.

The main goal of ESAF was to use a participative approach to speed up the process and contribute to the technology and digitization in scaling operations. In order to engage and attract visitors and drive customer awareness to its strongest value propositions, the integration was necessary. In terms of revenue, sales and headcount, the project should be user friendly and approachable.

Synopsis

To evolve ESAF as one of the most innovative and dynamic company by providing responsive banking services to the underserved and un-served households in India facilitated through customer-centric products, high quality service and innovative technology. To make the system approachable and reliable, it was necessary to upgrade the process which could be widely accepted and successfully implemented.  Our team understood the new age banking platform and its need to the secure exposure of bank’s protected resources that opens access for new possibilities and opportunities for innovation and to meet the expectations while protecting and controlling bank interests, offline data, legacy systems and processes at the same time.

Challenges

  • Implement an agile room for rapid ideation and deployment of high-impact personalization.
  • To improve business efficiency, huge cost savings, accurate and reliable performance and faster internal and external processes.
  • Minimize reliance on manual tasks and digitize the process that would save time.
  • The major challenge was during the time of integration with the bank having its own fixed format, which led to multiple integrations.
  • Stay ahead of the competition by having a regulatory framework.

The Campaign

  • Our experts tackled a vast variety of different integrated problems to improve the technical performance of the system.
  • Advanced techniques were deployed that supported the level of reliability and quality.
  • Use of Business Process Management tool to provide meaningful metrics to the business.
  • Create an operating environment that drives productivity, speed, and innovation.
  • Develop a comprehensive system architecture that supports scalability, robustness and high performance.

Results

  • Good performance and quick page load.
  • Increase cost saving and customer acquisition.
  • Structured and consistent representation of information.
  • Improvement in customer relationship which helped to stay ahead of competition.
  • Crafting of positive user experience.
  • Improved business with margins
  • Easy communication flow
  • Complete a week’s task in a minute or two.
  • Easy process for both the employees and the customers.

Technology Used

  • ORACLE
  • JAVA-EJB
  • HTML
  • CSS

Target Audience

ESAF’s main focus was to develop a system that would reduce a week’s work and complete it within 2-3 minutes. The task completion process should not only benefit employees, but also the customers which would help in increasing and retaining the customers.

Conclusion

We succeeded in developing a system which solidifies the organizational process through a smooth integration. ESAF is highly satisfied with our technology to consolidate their data, create personalized experiences and have a safe and secure activity.

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