Institutions that cater to the financial requirements of the underbanked in India face many challenges. These include continuous access to capital and skilled human resources, the two most critical components for a growing sector. While Northern Arc is focussed on providing efficient and reliable access to finance, the Foundation is focussing on creating knowledge and awareness through research and advocacy, and in building capacity through skills training and
knowledge development at the managerial level as well as the field level across India.
Building core knowledge through extensive and in-depth research is an area which the Foundation has been spearheading for years. Coupled with Northern Arc’s vast repository of credit data, in-house proprietary analytics models and regular field visits that provide deep insights on credit quality, this research aims to augment our understanding of customer behaviour.
Retention and skilling of manpower is a challenge for institutions who want to expand their reach beyond Tier I and Tier II geographies. A dearth of adequate financial education and vocational training has created a void in skilled manpower, especially in rural areas. The Northern Arc Foundation is focused on supporting these institutions by building capacity through conducting relevant training programs and workshops for existing and potential employees. With Northern Arc Capital’s reach into 29 states and 580 districts of India, there is an opportunity to make a difference across the country.
Through a mobile optimised, multi-lingual, gamified, online learning platform, the Foundation imparts financial education that covers concepts across origination, credit and risk. The training is designed to help the employees of our 170+ partner institutions, which employ around 1 lakh people, adapt to the latest trends and regulatory requirements.
The Foundation has supported various organizations and initiatives from time to time. Here are a few examples:
The orphanage trains young women from marginalised communities along the west coast of India in home care nursing, thus not only empowering women through skill development but also creating the much-needed home care nursing market to benefit the sick and elderly.
Repair and maintenance of three schools that needed additional toilets, water treatment plants, basic safety measures and other amenities.