KGFS - Backed by strong technology

IT Solutions

PERDIX is an IT Solution from IFMR Rural Finance that integrates customer management and core banking system. It is an institution-wide solution to address the industry's information management challenges. It is a comprehensive customer enrolment tool that fully caters to the multi-product environment and multi-tenant structure. It provides wide-ranging functionality that enables a financial service provider to create innovative and sustainable solutions to serve its clients better. The system is built on a modular approach and therefore gives the flexibility to tailor it to specific needs of any organization.

To leverage on cloud computing services, each KGFS uses core banking system provided by a premium provider in this space. The core banking is hosted on cloud computing infrastructure provided by one of the premium player in the technology industry. Software as a service (SaaS) model has been used to pay for the services rendered by service provider.

Wealth Management Engine

A fully integrated wealth management engine further compliments the CMS. This module uses household data provided during enrolment to generate a comprehensive financial plan for the household. Branch managers use these reports to advise customers to select specific financial products. The wealth management module takes inputs from the customer data and recommends suitable products to customers.

Centralised Audit System (CAS)

The CAS is an online system to capture the audit findings of the KGFS branches in a structured manner. This system captures issues in an easily accessible data warehouse for retroactive historical analysis.

WHYZE Learning Management System

WHYZE Learning Management System is a single-stop e-learning portal for all the learning needs of branch managers. This portal serves as a resource for all content, such as product notes, videos, and FAQs, serving as a one point reference for all frontline employees. The KGFS model is paired with a robust 24-day induction program for all frontline employees.

Reporting and Analytics Engine

The Reporting and Analytics Engine caters to the operational, management and strategic reporting needs of KGFS. This engine has been developed using open source tool and is highly flexible to cater to each user's requirements. Role based logins have been provided to users to access the specific reports and dashboards.

Mobile Application

An Android-based application has been launched for agents to do product related transactions at the customer's doorstep. A thermal printer provides every transaction with a transaction slip. The mobile application supports biometric authentication with a Bluetooth biometric scanner.

A comprehensive agent management module is also in place.

How has KGFS benefited from Technology

Higher Productivity

Due to an easy-to-use interface, a higher degree of business automation is possible, saving time of the branch staff and providing them easy access to customer data.

Lower Transaction Costs

Due to an integrated back-end which enables data transfer between branches, headquarters and product partners, the requirement for manual and paper-based processes is reduced, thereby reducing transaction costs.

Flexibility to Offer Multiple Products

By enabling capture of all essential customer information at one place, IRF's technology reduces the requirement of collecting documents or asking the customer to provide data every time a new product is offered.

Unified view of all the Services taken by Customer

This unified view helps track use of products and services across individuals and members of a household. Each customer has been assigned a unique reference number (URN). The URN acts a single reference point to link all the relationships customer has entered with KGFS.

Easy to Scale

CMS supports multi-tenancy structure hence multiple entities can simultaneously use the same software instance without any data compromise.

Customer Analytics

Headquarters-based customer analytics processes acts as a rich repository of information, which are used to track trends in the performance of products and services across geographies. The availability of data at a household and individual level also provides insights for new product development.

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