Digital technology has become an integral part of our day-to-day life. The apps sitting on our mobiles consume most of our time and get our daily things done in the fingertips. The conventional banking industry has seen a tremendous shift due to the advent of this technology. Pigmy collection is one domain that is untouched by digital apps and The Web People is trying to fill the gap though – Pigmy Plus apps.
What is Pigmy Collection?
Pigmy Collection is a daily deposit scheme, which was primarily introduced by Syndicate Bank, India. This is a saving where the customer can deposit a part of his earnings every day. The amount deposited can be later withdrawn once it is due.
The pigmy collection process usually happens through an agent who uses a ticketing machine to collect money and issue receipts. This process involves physical intervention at multiple touchpoints. The Pigmy agent visits the user, enters the details in the machine, and gives the receipt to the depositor. Once the collection of the day is done, the pigmy agent will visit the bank to update the transaction by connecting the machine to the bank’s system.
Commonly Faced Problems
- The entire process is time-consuming.
- Initial investment is high.
- No Data Security.
- Possibility of fraud and data tampering.
- Device maintenance costs over a time period will increase.
- No real-time data update.
- Admin has no control over an agent in real-time.
Viable Alternative Methods
In the current scenario, turning towards digitalization helps us stay updated and run the process smoothly. In order to bring a digital touch to the process of collecting pigmy, tech employees are working towards software with the use of cloud-connected mobile apps which includes a bunch of other useful features to make the pigmy collection process easy.
Why is the transformation in fund collection necessary?
- Ease of use.
- Paperless process.
- Mobile applications to conduct the process.
- Entry of receipt immediately gets recorded in the server.
- Time-Saving.
- Lesser investment but a more secure and reliable method.
- Transparency in fund collection, withdrawal, and deposit.
- Motivates customers to save more and deposit punctually
- Also avoids usage of print receipts
- No need to worry about data loss in case of mobile theft as data is synchronized with the server.
- Notifies customers automatically on every transaction.
Pigmy Collection App – Pigmy Plus
At The Web People, we have introduced software which is a suite of 3 apps – Agent App, User App, and Admin Dashboard. We have bought this pigmy collection system to manage the entire pigmy process. It is a user-friendly app that is easy to use & saves time involved in the process of collecting the pigmy & provides foolproof data of the activities. It not only saves the time of the financial sector employees & customers but also helps in reducing the carbon footprint by not using paper receipts.
If you are in search of a pigmy collection software, then your search ends here. The Web People has developed this app by working with the industry closely. It has undergone a few iterations and continues to get updates based on the changes requested by the growing customer base. All the important features are available to you at a subscription cost with continuous support. This application is now available on a subscription basis. For further enquiries email at hello@thewebpeople.in.
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