SKS Founder and CEO, Vikram Akula
“SKS believes that access to basic financial services can significantly increase economic opportunities for poor families and in turn help improve their lives. Over the last eight years, SKS has delivered a full portfolio of microfinance to the poor in India and we are proud of our current outreach of over 160,000 clients in 5 states. As a leader in technological innovation and operational excellence, SKS is excited about setting the course for the industry over the next five years and striving to reach our goal of 1,000,000 clients by 2010.”
 
 
Mission :
To provide finance to the poor in a sustainable manner

Overview:
SKS Microfinance (SKS) is one of the leading providers of microfinance in India. Founded in 1997, SKS has delivered $40 million in microfinance to over to 150,000 women clients in one of the poorest parts of Southern India. In the last year alone, SKS grew by nearly 300% and has a current portfolio of $15 million with a 99% on-time repayment rate. At present, SKS has over 45 branches and 500 employees and is expanding rapidly in Andhra Pradesh, Karnataka, Maharashtra, Orissa and Madhya Pradesh. At the current pace, SKS will reach its goal of 1,000,000 clients by 2010.

In addition to rapid expansion, SKS leads the industry in technology development and innovation. It is one of the first microfinance institutions (MFI) to have a fully-automated management information system (MIS) and also pioneered the use of Smart-Card technology at the village-level. SKS is currently working with VISA International on a pilot project to develop and deploy wireless POS devices that would automate field operations and significantly reduce transaction costs. Through this, and other innovative projects, SKS is aggressively looking for additional ways to reach the underserved population in India while remaining economically self-sufficient.

SKS has received numerous awards including the CGAP Pro-Poor Innovation Award, Grameen Foundation USA’s Excellence Award, the ABN-AMRO/Planet Finance Process Excellence Award and the Digital Partners SEL Award. SKS was also a finalist for the Berkeley Haas School Social Venture Competition and the Stockholm Challenge. SKS is the only MFI in India to receive the MIX transparency certification and to be finalist in CGAP’s worldwide transparency competition. SKS was selected by Unitus as the most promising microfinance organization in India and Unitus, Vinod Khosla (Founding CEO of Sun Microsystems), and others have invested in SKS.