You Should Know About Microfinance Service
The Microfinance sector is now getting noticeable growth after slow start. As on today, there are more than 10,000 microfinance farms existed. In this present year, 2019 - the Global Microfinance capital is expected to reach $192 billion. Among the Worlds microfinance borrowers, South Asia claims 60% of the total. There are more than 83 million borrower lives in here.
Introduction of Microfinance:
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services. Generally it is knows as a mini banking services. It covers a wide range of services like credit, savings, insurance, remittance and also non-financial services like training, counselling etc.
Features of Microfinance:
- Create Loan Scheme
- Loan Master
- Loan Product Details
- Member master
- Member Entry
- Payment Entry
- Release Loan Amount Define Interest Rate
- Interest Rate Calculator
- Payment History
Channels of Microfinance:
Present Time of Microfinance:
In the present years, the micro credit services are on the heights of remarkable growth. Technological evolution plays a vital role in the explosive transformation of financial services, and microfinance software is considered the key to success. The technological innovations have taken this approach to the next level, which is advancing continuously.
In order to promote microfinance organisations and makes its workflow easier, it is important to automate the overall processes. We can help micro credit firms with latest digital technology and utilize it to retrieve maximum benefits. For more details visit us or call +91-9330160431.
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