SKS Micro to upgrade tech infrastructure

SKS Microfinance, a non-banking financial company based out of Hyderabad, has entered into strategic tie ups with IT firms including Compulink Systems, HCL, Microsoft, Tulip IT and Wipro Infotech to upgrade its IT infrastructure.

The company is investing about Rs 8-10 crore for the purpose which will enable it in reaching out to the grassroots level in the next six months.

According to the company, the new IT infrastructure also aims at helping the company in its goal of expanding outreach from the current base of 650 branches serving about 1.7 million households to 1,500 branches serving 4 million households by 2009.

Said Vikram Akula, Founder & CEO, SKS Microfinance, "Technology has the power to enable us reduce costs, maintain information integrity and provide more convenient services to our poor and low-income clients. We have succeeded in using technology at SKS, and now our clients will benefit from the technologies."

SKS presently operates in 15 states and has disbursed over Rs 1,700 crore in credit apart from life and health insurance products to poor households. It plans to disburse an additional Rs 5,200 crore to clients in nearly 4,000 villages and slums in FY 2008-09.

As per the agreement, Compulink, a software product company will develop a three-tier web application using its software applications for internal systems and to complement web hosting services. The tie up with Tulip IT aims at supporting connectivity across to SKS Microfinance's existing and future offices.

This will also help the company in building an integrated communication network.

Wipro Infotech, the India, West Asia and Asia Pacific IT business of Wipro, will host SKS Microfinance's data centre in Bangalore, apart from supporting the mission critical systems from virus threats and attacks. SKS Microfinance has also partnered with HCL for its desktops, printers and scanners requirements.

The software used by SKS is designed on the Microsoft architecture for which the company has signed a licensing agreement with Microsoft.