Digital Field Automation tool by FINCA
Tool for conducting the loan application processes in the field
Description
The Digital Field Automation (DFA) tool by FINCA allows accounts to be opened and loan application processes to be conducted in the field, making it easier for rural residents to gain access to financing. Using the DFA, accessible via a tablet, allows financial institutions to conduct loan application processes in the field – whether in the customer’s home or at their place of work.
Technology
The DFA allows financial service providers to open new accounts, carry out initial loan application processes, take on new clients and disburse loans anywhere and at any time. The tablets have biometric devices that provide security to clients as they open their accounts. Cloud technologies help to automate the credit scoring and loan application processes.
Target
The primary users of the tool are FINCA's Client Relationship Officers who carry out loan application processes in the field, as well as their clients in rural areas.
Business model
FINCA does not charge its clients for the use of the DFA. FINCA was one of 17 recipients of the 2017 NetHope Device Challenge award, receiving a USD 5.5 million grant from Google.org that allowed it to roll out its Digital Field Automation (DFA) programme.
Impact
The DFA makes use of a hybrid model for the delivery of financial banking services to farmers. It allows access to customers in remote and hard-to-reach regions of the country for whom visiting a branch can take time and effort. The ability to apply for loans in the field reduces the number of times rural customers have to visit a branch office. The impact of the tool was evaluated in Tanzania, where the Bank reached over 20 000 new customers and disbursed over 40 loans exceeding TZS 135 million (over USD 57 000) within 2 months of the launch of operations.
Four Betters
Better production
Better life
