India is seeing a surge of potential in the middle-segment of entrepreneurs – small entrepreneurs with big ideas. However reaching out to them is fraught with problems of inconsistencies, unreliable network and semi-literacy. Artoo’s digitalization of the system reaches out to the most remote of these.
Artoo believes that since the borrower’s doorstep is where all the data points are, it is inevitably where digitalization must begin. Moreover, the best way to impact the operational efficiency of an enterprise, and to enable financial inclusion at scale, is to empower the field agent to do more for the borrower right at his or her doorstep.
Artoo’s model combines mobility with analytics and cloud computing, to digitalize the field processes – to improve productivity, reduce risk, and improve the customer experience and further adds a strong social element to the process.
It has required going the extra mile, but that comes naturally to Artoo, because we are driven by compassion for the frontline staff as well as the borrower, who come from roughly the same social class.
There is a gap between microfinance institutions and traditional banks, in the form of those funding small businesses. The ‘missing middle’ shows the greatest potential in the market today, and is where the greatest challenges lie.
Artoo’s product deck, with its high technology entwined with a human touch, is made to fit this segment like a glove. Our research into the small business lenders and borrowers, has allowed us to create flexible systems with minimal risks.
A qualitative dimension of this segment is that it consists of those individuals, who when they receive a bit of a leg up, truly pick themselves up and take responsibility for their own lives. Artoo considers it a privilege to serve these small business people.
From a strategic perspective, we definitely need a handheld solution to improve our data quality and productivity. The field users embraced Artoo’s technology as it helped them reduce error rates and TAT (Turn around Time), and improve productivity.