“I remember the days where most Branch efforts with the CROs and CBOs were to make sure that we get new customers to walk in the Branches to open Accounts and request for loan. This also takes me back to the moments we had to make sure there is constant availability of physical forms on the CSO’s Help Desk” explains Gloria Gabriel, FINCA Victoria’s Branch Manager while laughing.
“The Banking Hall especially Help Desk would be filled with customers waiting to be served, yet go through a long process of documentation and tricky KYC process and reference check for the Branch team on customers. You know what, those days are gone and all thanks to the introduction of Digital Field Automation (DFA) technology, we can now take our services and products to client’s door-steps” stresses Gloria.
The introduction of DFA has pushed FINCA Microfinance Bank to new heights of customer experience as products and services are presented right on where they live and operate their business. The technology gives them a room to be visited by FINCA staff and continue do their business, this also saves them time to have travelled a long distance to the branches to access financial services.
DFA technology is literally a Bank at hand operating anywhere and anytime with just a finger tap, with secured tablets FINCA staff are able to open new Accounts, start initial loan application, score for loans and disburse loans at a GO once all the client’s KYC and facts are eligible for a loan.
The technology has far been well appreciated with customers who thank the Bank for presenting such ground breaking digital platform. “I have known FINCA since it was just a Microfinance Institution 20 years ago from my mother. I am pleased to see it growing fast and presenting easy to use digital facilities for its clients” starts to explain Violeth Sangawe who owns a Tailoring shop at Wazo.
“I have always wished to join the Bank as am aware of its period Savings Accounts with competitive interest rates in the industry, just that never got time to visit the Branches, but here we are today, surprised to see FINCA staff visiting my business area and I have today opened an Account through the tablet. This is a great feeling” continues Violeth.
On the other hand, Muswa Wilson who is involved at transportation business through a motor-cycle at Boko Msikitini explains how honored to have applied for a loan without visiting a branch. “My dream is to buy more motor-cycles for my business, as I believe will gain more income and generate employment opportunity for others, having the privilege to apply for a loan with FINCA as I was at my business station”.
The technological innovation of DFA complements FINCA’s brick-and-mortar branches and the whole initiative of financial inclusion. The tabs being mobile, FINCA staff can easily travel to the location with potential clients and extend financial services offerings to them.
Been connected to the country’s National Identity Card Authority, FINCA staff only needs the customer’s National ID credentials to initiate account opening or loan application process. The tablets are also equipped with biometric accessibility to back up customer’s security pass to their accounts or approve a loan application online form. This increases a connection and assurance of client to their details. The platform is also friendly to a layman person as they can be guided by FINCA Staff to fill the details online.
“DFA has seen us connect in an appealing way with clients but also easily serving them in an efficient way. Digitizing the KYC check part of loan application has helped the Bank score the applicants fast and secured way. The tabs eliminates errors compared to former paper-works process” says Jacqueline Bartalome, Pamoja Loan Product Supervisor.
“DFA platform connects the bank’s Core Banking System (Neptune Orbit-R) at the head office directly to monitor what is being done by FINCA’s relationship team in the field and in various branches. This is to ensure security and nothing is breached as customer’s satisfaction is also key for the Bank” adds Jacqueline.
This means that DFA acts as a Bridge between the Branches through Supervisors at the Head Office and the team on the field enabling a direct engagement and interaction with client. Through the tab, customer can get all the required information on products and services offered by FINCA wherever they are allowing them to make informed decisions and respond accordingly to their preference with the help of Relationship Officers.
Since launching DFA in May, 2017 – FINCA has opened over 20,000 new accounts, disbursed over 40 loans in the pilot phase worth of about 135 Million Shillings as of late July. The Bank continues to build strong digitized solutions so as to enhance Customer Experience and boost brand love and relevance to the unbanked population of Tanzania. DFA compliments the efforts of over 23 Branches in making sure that turn-around time and process is efficient.