Arohan Financial Services Limited | Annual Report 2021-22

IT LANDSCAPE Arohan’s pole position in the setting up of a state-of-the-art technology-enabledinfrastructure has helped it stay ahead of the curve in the industry. With dynamic implementations and interventions, the technology landscape assures scale for growth in the future. Arohan continues to be a forerunner in the use of innovative technology in the sphere of microfinance in India, for which the Company has been recognized, on multiple occasions, in theindustry.Thepositionwasfurtherreinstated with the Company getting recognized as the “Microfinance Company of the Year” award in the 3rd Annual BFSI Technology Excellence Awards programme, 2022. During FY2021- 22, the Company has further evolved its technology platform into an indispensable tool for achieving and maintaining premier standards of customer service and efficiency, while not just protecting but also effectively assessing data, leveraging it for better and safer processes. The core systems for customer on boarding and loan management have been incrementally enhanced and completely stabilized during the financial year, enabling the Company to deploy various systems and business application for allied and support functions. Continuous improvement in the existing systems and automation of related business processes have been one of the key agendas in FY2021-22. All theinitiativeswerefocussedtowards improving efficiency and/ or optimizing operational cost directly or indirectly. TechnologyatArohanhasbeen thecornerstone for enabling the Company’s quest for scale and growth. Since 2016, when the Company first started building its IT foundation, till today, the focus has invariably been on the path of ‘Cashless at the front’ and ‘Paperless at the back’. In its business of catering to the credit needs of ~19 Lakh customers, Arohan’s IT system currently captures more than 300 different data points per customer and facilitates over 20 Lakh transactions every single day through the Company’s steady Loan Management System. Furthermore, Cashless Collection has incrementally gained focus area during the FY2021-22. To this effect, various modes for digital repayments were enabled including partnering with payments banks and exchanging transaction information with them on a real-time basis. Over the years, Arohan has implemented various technology- based tools and platforms: Profile A Core Banking System from FiS (a Global Fortune 500 company) to manage the overall lending business, and strengthen the Company’s back-end systems. During the COVID-19 pandemic, the Company’s Core Banking System helped in managing various government responses being one of the first in the microfinance industry to provide all governmentbenefitstothecustomers, including the extension of payment moratorium, interest subvention and compound interest relief for all eligible customers. Arohan is the only MFI in India using ‘Profile’ as a loan management solution. 68 Annual Report | 2021-2022