Innovators of financial risk management

The Micro finance Institutions working at the grassroots levels of the country are creating opportunities for farmers, house wives and the under-educated millennial. These institutions provide these resource deficient people, a potential new horizons which they would have never dreamt of.

Creating opportunities at this level is way easier said than done. Alexandre Dumas has rightly said “The merit of all things lies in their difficulty.” The MFI’s have had to deal with multiple challenges like scarce resources and far remote locations. From the past few years, these MFI’s are adopting risk management solutions to ensure that they are achieving their organization goals.

Micro finance institutions, following the hub  and spoke model are trying to cover as many villages, talukas, towns and cities. Their field officers are mandated to visit these remote areas for fund deployment and collections. Of lately, these organizations have started adopting advanced technologies like financial tracking, remote financial data recording and many more. But even after all these attempts there have been certain insurmountable problems. The lack of a trust worthy mechanism

  • To ensure on-field officers are indeed conducting meetings at the right time/location
  • To ensure the presence of employees in-the-office at the remote locations
  • To ensure all the members of a SHG are attending the scheduled meetings.
  • To ensure total number of group members present in any scheduled meeting locations

“A MFI from Karnataka had no scalable and cost effective mechanism to ensure the presence of all the in-office employees across branches. Spending for installing fingerprint scanning hardware was capital intensive. To add agony to the pain, spending on the hardware frequently for each and every new branch that would newly open, added to the expense.”

“MFI’s from Tamil Nadu, Uttar Pradesh, Assam and other states had no other solution to guarantee their SHGs/JLGs members were indeed attending the meetings.”

MFI’s, as part of their risk management policy, are now adopting a unique and novel visual identification and tracking system which absolutely does not require any of the dedicated hardware or the scanners. These MFI’s have not only installed the Mobile Visual Identification and Tracking System (MVITS) in the existing branches to ensure in-office employee attendance but also to track and monitor their on-field employees. The MVITS ensures the on-field employees are meeting 60-70 SHGs/JLGs members per day. This solution helps the management by providing details like number of group members present/absent in daily meetings, their locations, and time stamps thereby ensuring complete control over their company operations.

Dedicated to all micro finances in India

“It is not because things are difficult that we do not dare, it is because we do not dare that they are difficult.”
― Seneca


Could building systems to track us on the streets improve privacy?

Extending the state’s ability to track you via the millions of CCTV cameras that watch our streets every day would generally be perceived as an erosion of privacy.

In fact, the opposite could be true, says one of the men building the computer systems to automate CCTV monitoring in cities around world.

Cyrille Bataller is managing director with the Accenture’s Emerging Technology group, which recently tested a video analytics system on CCTV around the city-state of Singapore, as part of the government’s Safe City programme.

The system automatically monitored video feeds, creating anonymized data about the movements of people and traffic across the city, monitoring the state of the streets, and triggering alerts for public disorder, flood risks and other incidents

In a video analytics solution a computer doesn’t have any bias,” he said, saying the argument could be extended to using facial recognition technologies to pick out select individuals from a CCTV feed.

“If there’s an operator watching a camera to look for individuals of interest, he’s got a watch list but he can’t help but recognise a politician, a movie star, his sister-in-law. Even if they’re not part of his list he will see them and that’s where the privacy is challenged,” he said.

“[With an automated system] even if the face is a well-known public figure, if it doesn’t match any of the faces in the watch list or in the person’s of interest list they would be ignored. You increase data privacy by removing bias through automation.”

While some may have concerns about authorities mining data about citizens’ daily lives ,  Bataller argues that eliminating manual analysis of CCTV feed reduces the potential for unwarranted snooping.

About Aindra Systems, a start-up with Mobile Visual Identification & Tracking Systems

Aindra Systems is among one of the very few companies in India working in the domain of Artificial Intelligence, specifically Computer Vision creating products which solves the problems of huge magnitude. The current problems addressed by the mobile our systems:

– Identifying people on-the-field, on-the-go to enhance the organization productivity.
– Providing a unified solution for the in office and on-the-field employees.
– OneClick attendance of the students in the classroom of educational institutes.
– Recognizing the valued customers of the luxury retail store as soon as they walk into their premise and creating the heat maps.