Microfinance Software

The need for an integrated information system to address a variety of challenges, including the need to expand their services, enhance and develop their products and services, deal with increased competition, update and improve their business processes and procedures, and ensure high service quality, among others. The fact that MFIs are non-profits adds to their appeal. All of the on above issues can be overcome by having an integrated information system that supports all microfinance software activities throughout their life cycle, from planning to implementation. Microfinance software systems are a strategic instrument for the institution since they will assist it in achieving its objectives and give the tools necessary to improve its performance. Projects can also be supported by a single or numerous contributors through their Master Accounts, which can be seen on a monthly, quarterly, or yearly basis. Managing your day-to-day finances and operations is becoming increasingly ...

After the introduction of Microfinance systems, it has played a vital role to provide financial assistance to the common people, especially poor sections of rural and semi urban areas. Where formal financial organizations fail to reach, Microfinance companies are successfully giving their assistance. But Microfinance Companies also face problems regarding their day to day operations. Regular bank like financial institutions use fully fledged Banking software by paying hefty price. But all startup MFIs may not be able to invest that huge money on getting high profile costly application to manage their business. In order to solve this kind of issue, numerous Software companies are developing and distributing Microfinance Software to the MFIs. These applications are nor that costly as general banking software and it helps MFIs to grow their business prospects by managing financial operations very successfully and effectively. How microfinance software can bring growth to the Microfina...

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...