On 14th October, Palli Karma Sahayak Foundation (hereinafter called PKSF) visited Pidim Foundation a leading MFI (Micro Finance Institutes) branch to see the impact of various Voice Based Solution services among the members of the organization. The services include are
- Voice Based Data Input System: This system is used by the institutional members (currently Field Officers) of MFI to input business data into their ERP system real time without the use of internet and smartphone, they simply dial a desired number and input the data which results in significant time save for the organization.
- Voice Reporting Service: Hishab has launched a reporting service to the borrowers of MFI for the first time in the MFI industry, where a borrower can hear real time financial report from their phone without the need of internet and smartphone. This service is improving the financial information for the marginalized people of Bangladesh and also providing the service in a real time basis, whereas before Hishab, a borrower has to wait for an entire week to have an update of their financial transaction.
- MSME (Due Recording Service): Currently Hishab has launched its basic service for the MSME’s which is “Due Service”. Now a user can keep record of the “Due Transactions” made by the Micro Entrepreneurs and this record hels the creditior to keep the trach of its due and its payment date. This service is eradicating the long-time problem of due mishandling in Bangladesh.
PKSF’s, M.A Matin (General Manager IT), Md. Abu Al Basher (Deputy Manager), S.M Rahibol Hasan (Deputy Manager IT) and Habibur Rahman (Assistant General Manager, Micro Entrepreneur) along with Pidim Md. Humayun Kabir (Senior Director) have joined this visit.
PKSF was especially curious to see how Hishab’s technology helps MFI and MSMEs to reduce their workload and save cost for their operation. During the visit, PKSF were amazed on the significant time savings of the MFI ranging from Field Officers to Accountant and improved transperancy for the borrowers. As for the institution, for every 100 Field Officers, 35,000 hours of time is being saved annually followed by 45,000 hours are also being saved by every 100 Accountants in the organization.
Moreover, the value proposition for the borrowers excited the PKSF member to a great extend as the borrowers / members can access their financial information in real time 24/7 with the use of technology without any learning curve. The borrowers reduction of need to consult with Field Officers has been reduced for obtaining financial status of the borrowers as they can communicate with the system by themselves.
As for the MSME service, the business record of the Micro Entrepreneur amazed the authority because, this will bring clear transparency in the MFI industry in disbarment of loans to the members.
PKSF is keen on partnering with Hishab to launch the MSME service among the Micro Entrepreneur through the MFI channel and to have the transparency on the “Flow of Fund”.
What is PKSF?
PKSF (Palli Karma Sahayak Foundation) is one of the biggest financial institutions founded by the Government of Bangladesh in May 1990, to finance rural development and provide training for sustainable poverty reduction.
What is Pidim Foundation?
Pidim Foundation is one of reputed Microfinance institution successfully operating its Micro-credit program since 1997 with its partner organization PKSF.
Hishab is a world leader in telephony based Conversational AI technology. Hishab holds over 20 patents in over 27 countries across the world. Hishab’s team is represented by people from 10 different countries across Europe and Asia. German and Norwegian Engineering meets with Japanese and Bangladeshi leadership to bring the world’s MOST innovative solution for digitalization of the mass across the world.