Digitalising operations resulted in the MFI realising an increase in income in the first year. As a result of this, launching the ERUDITE DFA resulted in a positive ROI in under 12 months.
Using the ERUDITE Digital Field Application increased the case load per loan officer by 68% while simultaneously reducing turnaround time (TAT) from 72 hours to 6 hours.
The MFI realised cost savings in the first year of launching the app, achieved by promoting data entry staff into other roles and reduced stationary/printing costs.
Improved client experiences
Faster loan disbursements, no need to provide photos or ID photocopies and reduced potential for fraud all resulted in overwhelmingly positive feedback from clients.