analysis

Analytics @ Varam

February 1, 2016

Varam is at the cusp of changing the way Micro Finance Industry operates. Driving this transition will require tremendous focus on costs & risks, rigor throughout the customer processes and ability to expand meaningful product portfolio. Most BFSI entities over the years leverage analytical systems to support their business processes. Varam is committed in developing a system that addresses the needs of the Micro Finance Industry and becomes a true differentiator as we chart our greater frontier. At Varam we have envisioned analytics at the core of our business operations.

This holistic approach ensures that we leverage the science to apply data based decisioning and we also create a system that learns and grows so that it is ready for tomorrow. We are building a proprietary analytics engine that will host our core acquisition and portfolio management scorecards on one hand and have live, active, responsive dashboards addressing portfolio management and operations across the value chain. These systems are built for intelligence, swiftness and proactive strategy development. Scorecard building and dashboard creation will enable us in monitoring Key Performance Indicators against our defined strategic goals and performance milestones.

The use of predictive analytics that identifies individual customer patterns will empower our systems to make better credit decisions and assessment on their life-time value. On the operations side, automated monitoring systems will reduce the high costs associated with transactions. Not only will the reduced costs and risks help us in growing our portfolio, but will also ease customers’ access to a financially secure future, making it a win-win situation for everybody. Thus, the power of business analytics at Varam will further revolutionise the journey towards greater financial inclusion, supporting employment, skill-development and economic growth, thereby, extending the benefit to a large community.

Contributed by Abhinav Kimothi, Consultant for Varam

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