SKS Microfinance introduces end-to-end IT solution for the MFI industry. It ties up with Compulink, HCL , Microsoft, Tulip IT and Wipro Infotech to strengthen IT backbone. This new IT solution will be deployed in six months and shall reinforce security, enable real-time data analysis, and accelerate scaling in the industry. 

SKS Microfinance has launched an IT infrastructure that will accelerate its goal of financial inclusion. The initiative involves IT majors Compulink, HCL Infosystems, Microsoft, Tulip IT and Wipro Infotech who will each play a role in creating a connected network of 1500 urban and rural microfinance branches throughout the country that will deploy best-in-class software applications to enhance the speed of data,  strengthen security, enable real-time data analysis, and accelerate scaling. The new IT infrastructure is aimed at helping SKS achieve its ambitious goal of expanding outreach from its current base of 650 branches serving 17 lakh poor households to 1500 branches serving 40 lakh poor households by March 2009.

SKS currently operates in 15 states and has disbursed more than Rs. 1,200 crore in credit as well as life and health insurance products to poor households in nearly 20,000 villages and slums. It plans to disburse an additional Rs 5,200 crore to clients in nearly 40,000 villages and slums in FY 2008-09. SKS also plans to add new financial services, ranging from other micro-insurance products to remittances. It is currently adding 50 new branches and 1.5 lakh new clients per month.

It parners with Compulink to develop a three tier web application to develop highly-scalable software applications for internal systems and to complement web hosting services. The new system will support not just SKS's core banking solution but also provide the advantage of minimal IT infrastructure, rapid deployment, quicker scalability and upgrades. The tie up with Tulip IT is to support connectivity across all 650 existing and future SKS offices using a hybrid solution with a mix of MPLS, RF and VSAT solutions. The partnership endeavors to provide efficient WAN infrastructure while providing complete end-to-end communication services with security. The partnership will result in an integrated communication network to enhance profitability and productivity

To support mission critical systems and protect them from virus threats and attacks, SKS Microfinance has partnered with Wipro Infotech to host its data center in Bangalore. The partnership will help SKS Microfinance enhance performance, protect applications running on different operating environments, reduce management costs and risks through greater automation of administrative tasks, and minimize the cost to train and retain highly skilled technical staff. For the centralized procurement model, SKS Microfinance has partnered with HCL for Desktops, Printers, Multi-Function Devices and UPS, and with Wipro Infotech for Laptops to manage supply and post sale service across all SKS offices.

SKS's software is designed on the Microsoft architecture, thereby a licensing partnership has been signed with Microsoft. The partnership will help SKS in easier license management, increased value on software with ability to calculate accurate return on investment, predicting planning, and improve budgeting. The new IT backbone is expected to be in place by July, 2008.  The deployment and testing phase will be through by May 08.

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