Channel innovations vital for micro finance success
Addressing the members of the Finance House Association of Sri Lanka,
Chairman of Epic Nayana Dehigama said that channel innovations are vital
for the success of micro finance operations of banks and financial
institutions.
Nayana Dehigama, Chairman of Epic
Technologies Group |
"The legislative framework and the technology infrastructure are
ready for local financial institutions to successfully engage and manage
their micro finance and agency banking activities in a sustainable
manner. Innovative technology solutions that have been adjudged as the
best in the Asia Pacific and successfully implemented in the region are
available with Epic. The offerings have been made flexible to meet the
varying necessities and affordability of different financial
institutions" said Dehigama.
Epic with several national level implementations in Sri Lanka and
abroad shared their experiences with the top officials of the finance
companies at the Annual General Meeting of the Finance House Association
of Sri Lanka held last week at Galadari Hotel, Colombo. Explaining the
evolution of the award winning Epic Branchless Banker which has helped
local and international banks to reach clients of all social strata
irrespective of geographical locations Dehigama highlighted the
efficiency increase through these channel innovations and drastic drop
in operational costs. The EDC POS terminal which is connected to the
bank either through a public telephone network or GPRS can simulate all
banking functions offering highly secure on-line real time banking at
customer doorstep, he said. "You can increase your access points from
ten to hundreds or even to thousands in no time thereby allowing more
people to transact with your bank on-line real time as we did in
Malaysia for BSN Bank. We converted the state owned biggest savings bank
which had over 300 branches a network of over 4,000 access points
offering almost all banking facilities through agency banking," he
added.
Banks and financial institutions can connect their field officers to
the core banking system through our solution said Sachith Fernandopulle,
Assistant Vice President of Epic.
This can increase the credibility of the bank immensely as field
collections are immediately updated in the main system and receipts are
issued to the clients then and there together with passbook updates.
Efficiency of the field operations too will go up as the staff members
can devote more time in the field as there is no necessity to spend time
in back office updates in completing days work, he added. Epic
Branchless Bankers comes with state of the art security features such as
bio-metric verifications and hence this is completely foolproof as
certified by international agencies and authorities, he said. |