IBS Journal October 2017


43


• AADHAAR based Customer-On-Boarding and e-KYC using Mobile naive and Web application


• Development of integrated Mobility solution for complete field operations


• Data Cleansing and Deduplication of multiple databases (JGL, IL and HRMS)


• Single Application Platform by integrating all existing databases


• Integrated solution for Account module for HO, Division office and Regional offices


• Implementation of Quick win functionality & process


• DMS – Document storage & archival for KYC and other documents.


One of the important benefits that Sonata gained from the new system was reduced process time


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Development began in October 2015 and took about a year for completion. Around six or seven people were deployed from Nelito. Some of the tailor-made modules that Nelito implemented for Sonata are shown in the figure below. Besides this, Nelito also developed numerous functionalities for the first time for an MFI that included:


• Integration with UIDAI for AADHAAR • Real-time integration with CRIF High Mark for credit rating


• Real-time integration with Bajaj Allianz insurance (for T+1 activation of insurance of disbursed amount) • Bank API integrations for NEFT, ABPS & Internet banking


Data migration began in January 2016, and was completed fairly quickly in a few days. From Sonata’s end, around six or seven people were deployed for the data migration while around 15-20 people were deployed for data monitoring and quality control. Post migration, training the team took around 1.5 months.


Developing the system presented a few challenges. From a technology standpoint, one of the key challenges was understanding the requirements accurately. This also led to a few months of delay in the final go-live, which was originally planned


Key Modules Implemented by Nelito for Sonata Finance


for March 2017. Nevertheless, Sonata expressed satisfaction about the final product and expects to go live shortly. Another challenge was that of understanding the technology being implemented, to suggest the right changes and customisation.


However, Sonata expressed satisfaction with the overall product, terming it as the best solutions available in the industry today for microfinance. One of the important benefits that Sonata gained from the new system by Nelito was reduced process time. This was through automation of processes, that could be completed with a single click, such as checking of credit history of the applicant. A more efficient document management system, that eliminated unnecessary delays in manual document procurement and processing was another benefit.


With the new system, authentication and KYC could be conducted by simpler means such as biometric, IRIS authentication, mobile photo and document upload using a tablet, and so on. This also improved transparency within the process, thus enabling improved customer service. Overall, the new modules helped Sonata improve its loan processing efficiency.


Sonata commended Nelito’s co-operation throughout the process, which helped to deliver a good product despite minor glitches related to the understanding of the requirements and technology. With the new system, Sonata expects its customer base to grow to one million by the end of the current financial year, and to two million by the end of the next year.


In IBS’ view, a critical success factor in this implementation was selecting the right technology partner who already had a microfinance-focused solution. A highlight of the implementation was the development of a KYC solution that leverages the Unique ID system (AADHAR) and which can now be deployed by Nelito as a standard solution for its other microfinance clients.


customer base to grow by one million by the end of the year


“ www.ibsintelligence.com Sonata expects its


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