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IBM has entered into a six-year deal with Janalakshmi Financial Services (JFL) to provide the microfinance company technology solutions.
JFL will use cloud computing, mobility, business analytics and big data solutions to help it digitise the existing 3 million accounts and expand its footprint across the country. The microfinance company intends to reach out to 20 million under-banked accounts, which includes garment factory workers, agarbathi rollers and 1,400 branches by 2020, according to JFL officials.
Further, IBM's solutions will help JFL onboard new customers with biometric solutions so as to avoid duplication of vast amounts of data, according to IBM officials.
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