Why Need Microfinance Software for Small Business?

 What is Microfinance or Micro Credit?

Micro Credit or popularly known s Micro Finance Company is a certain type of finance organizations that lends capital to the small and individual business owners. As often these type of small business unable to borrow money from the bigger financial institutions like the Bank. 

How Microfinance Started 

Nobel prize winner Muhammad Yunus is regarded as the creator of the Microfinance system. In 1976, Bangladesh he laid foundation of Grameen Bank. And this is the first journey of any microfinance establishment in the world.

Why need software for Microfinance business?

This software has many features because, that will help your microfinance business. With this software you can manage your online transactions to payment collection, payment distributions, payment collection, etc. Below we have described about microfinance software features.

Microfinance Software for Small Business


User Friendly:

This microfinance software is a user-friendly, so that the users can operate it without losing much sweat. Hence, Microfinance Software also needs to be user-friendly because it would be utilized for the overall business management. If the software is user-friendly, people will love it. Let me give an example

In our personal lives, we utilize many kinds of applications like WhatsApp, Facebook, Messanger, Snapchat, and many more. These free applications are so much popular that they have been downloaded and installed on over a billion devices. What makes them popular? User-friendliness is the most common feature in all those applications.

Software Security:

Software needs to be secure enough so that hacking it would be very tough for online attackers. As a Microfinance Software in India would be utilized in the management of financial services, it needs maximum security.

Financial institutions are one of the most vulnerable to online attacks as they are directly connected with money and a huge amount of client data. An American Management Consulting company name Boston Consulting Group revealed that financial companies are 300 times more prone to online attacks. Hence, advanced Microfinance Software must be secured enough to protect the business from online attacks.

Payment Management:

Payment Management is the cycle of payment tracking, contributing, planning, banking, and assessing duties of one's fund. It is an essential strategy to bring in cash to generate the most noteworthy premium yield an incentive for any sum spent. It is a crucial part of any Financial Organization.


Location: India

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