Equitas Micro Finance India : Optical Mark Reader Solution

Being a startup company the biggest challenge was to expand rapidly by

opening branches to increase the micro finance loan disbursements. The

management didn't want to spend much on manpower, equipment and space. Hence,

there was a dire need of an innovative technology to process several times the

number of loans booked previously, and with the existing resources. The company

went for an OMR (Optical Mark Reader) based solution for loan processing. There

was a need for lots of data entry in the processing of applications. The company

studied the data entry ( Membership ) form and found-out that, major portion of

data can be converted to OMR format using check boxes. Thus, they redesigned the

form introducing check boxes / shading circles instead of straight character

format for most fields. This conversion into OMR format was done for nearly 75 %

of data fields.