For the last six months Musoni has been working closely with Accion on a comprehensive impact assessment of the Musoni App. The Musoni app is designed to improve loan officer efficiency by digitalising the client registration, group registration and loan application processes. The app works in online and offline mode, and can also be used to view reports or to carry out PPI surveys. So far the app has been used to register over 40,000 clients and a similar number of loans, one of which you can see in the image below.
While the app has always received positive feedback from end users, this was the first rigorous study into the impact the app has had on loan officer performance, branch cost savings and improved client experiences. We’re pleased to say that on all three of these, the app has proved itself an unqualified success.
Key findings of the case study were:
- Business Case: Digitalising operations resulted in the MFI realising an increase in income of $86,620 in the first year. As a result of this, launching the Musoni App resulted in a positive ROI in under 12 months
- Improved efficiency: Using the Musoni App increased the case load per loan officer by 68% while simultaneously reducing turnaround time (TAT) from 72 hours to 6 hours
- Cost Savings: The MFI realised cost savings of $27,246 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
The Musoni App is provided as standard to any MFI licensing the Musoni System, alongside the mobile money integration, SMS module and system itself, providing a one-stop shop to any MFI looking to benefit from the latest technology.
“On average, the five main branches recorded a 68 percent increase in loan officer caseload from January 2013 (pre-DFA) to December 2014 (one year after full rollout).”
Please click on this link, or the button below if you’d like to download the full Accion Case Study into the Musoni App. You can also learn more on the Accion CFI blog where they explain some of the benefits they’ve seen in other MFIs using tablets in the field.