Adarsh Credit Co-Operative Society (“Adarsh Credit”) started its operations in 1999 as a co-operative society primarily serving farmers in Rajasthan, India. Adarsh is among India’s leading credit co-operative societies in terms of branch network, agent strength and deposit base. It currently operates in 20 states & 4 union territories with over 140,000 agents and 800+ branches.
Adarsh Credit provides savings products to cater to the needs of its members including fixed deposit, recurring deposit and daily deposit products. To provide services to its members Adarsh has created a network of agents to serve its members at their door step. The agents travel throughout rural, semi-urban and urban areas to meet with members and collect deposits. The rural environment creates unique travel challenges, often roaming long distances, which means agents often cannot return to the office or branch every day. Many agents at Adarsh Credit are in the field on a full time basis, and are constantly in the field for collections, opening new deposit accounts and servicing members daily.
Previously, the agents had two main means of handling deposit collection:
1. Point-of-sale (POS) machine. Agents lug around a heavy POS device with them and input the deposit transactions in offline mode (given lack of mobile data/communication channel). When they return to the office, they transfer the data from the POS to the Adarsh Credit Core Transaction System (CTS).
2. Pen and paper. Agents write down the client information and deposit amount in a paper book. When they return to the office, the transaction details are entered manually into Adarsh Credit’s systems.
Both approaches require the agents to return from the field daily to update Adarsh Credit’s systems, often manually. For Adarsh Credit’s members, this creates a significant and worrisome delay before receiving an SMS confirmation of deposit.
The mobile revolution: rolling out at scale
In order to overcome the challenges faced by agents using either pen and paper, or carrying unwieldy POS machines—with all transactions only recorded at the end of the day at a branch offices–Adarsh Credit decided to roll out an easy to use mobile solution to provide their agents simple and powerful tools to serve members and transact in real-time–no matter where they are, or how rural their location.
Adarsh Credit started rolling out the new mobile solution powered by Mistral Mobile in 2014. The solution enables agents to use their Android-based mobile devices to take deposits, handle loans and provide payment and customer services. Even in rural areas without mobile data availability, the Mistral Mobile solution means transactions can be completed in real-time and securely. Adarsh Credit provides Samsung mobile devices to some of their agents who don’t already have a suitable mobile device in order to accelerate the roll-out.
Initially, agents performing high volumes of transactions in geographically dispersed locations were chosen. They were asked to start doing their collections using the mobile application after full end-to-end training.
After only a few months, the results were impressive. One agent explains: “…transactions happen immediately, customer gets instant confirmation and I can carry all the tools in my pocket. Before I had to carry a heavy POS machine hanging on my waist belt. When I enter a transaction on mobile, many members do not believe that I am collecting deposits on mobile [but] when they started getting SMS confirmations, they felt confident and happy with this solution. Now I also log their customer services issues immediately with the mobile application. It saves my time in the branch that I used to spend to upload collections from POS. Now collections are posted directly from the field and I just need to deposit the total collected cash in my collection account.”
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About Mistral Mobile
Mistral Mobile solutions unleash mobile devices for secure use in ing, payments and commerce. Mistral Mobile’s market-proven mobile front-end solutions are used by retail, issuing and acquiring s and other financial service providers to offer secure and flexible solutions to rapidly introduce mobile payments, mobile ing and mobile authentication services independent of mobile operators and for all mobile phones, from smart to simple phones. Mistral has two solution lines:
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Founded by former Nokia Money leaders who believe in both the commercial and socio-economic benefits of mobile financial services globally. Mistral Mobile is privately held with offices in New York City, USA, Finland and India.
About Adarsh Credit Co-operative Society Ltd.
Adarsh Credit Co-operative Society was founded in 1999 with the primary objective of uplifting the social and financial status of its members by inculcating saving habits among them through the spirit of co-operation and providing technical and financial support. As of March 31, 2015, the organization had more than 800 branches across India with a deposit base of INR 5,139 crores and loans deployed of more than INR 5,523 crores. The principal function of Adarsh Credit is to provide financial services to its members and to reach every nook and corner of India.
For further details visit www.adarshcredit.in