Technology has played a vital role in aiding Micro Finance Institutions across the World to measure and monitor their operations. The industry is focussed on helping the population at the bottom of the pyramid with the necessary financial assistance. Most of the customers served by MFIs are low-income clients.
BankSoft - MFI is an integrated solution designed and developed for Micro Finance Institutions. Micro Finance involves large number of customers with low transaction amounts. The solution is built on MicroSoft SQL Server to ensure scalability and security to the large number of transactions processed in Micro finance institutions.
BankSoft - MFI has built in interface to help field level transactions done through agents using POS devices. The system provides the necessary features to manage the daily activity of these agents. The system helps the institution in computing the repayment schedules for each loan provided. This helps MFIs launch branch less banking services in their area of operation, thereby increasing the penetration levels.
The solution supports group lending methodologies and enables MFIs to maintain their books of accounts. The MFIs can analyse their customer base and innovate new products to suit each customer segment.