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Banks
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With complete solution of Retail Banking, MicroFinS offers complete solution to various forms of banks viz
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Community Banks
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Savings And Credit Co-operative Society (SACCOS)
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Grameen / Village Bank
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Savings and Loans
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Housing Co-operative Societies
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Micro-Finance
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MicroFinance Bank is the embodiment of the concept of micro loans as a means to spur development in the third world. These loans are quite small relative to normal financial arrangements, but provide access to capital to the financially backward and rural customers.
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In typical MFI, loan disbursement & collection are done through field officers of the MFI. The agents have a security deposit with the microfinance company and they can collect loan EMI’s from the customer upto the limit proportionate to the security deposit. The major challenge the MFI's facing is that MFI does not have any control over the amount collected by agents and issuance of receipts and documents / certificates to the customer..
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Our GPRS enabled POS solution integrated with MicroFinS solution for MFI, automates the customer enrolment, loan disbursement & collection process based on efficient, fool-proof and cutting edge technology that is designed to provide real time data merging with the
solution.
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This system gives a total control over the money disbursements or collections by the field officers, issuance of receipts to the customer. We believe our solution will overcome the challenges / limitations in the current on-field process of loan disbursement & collection.
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The Micro-Finance banks offering other retail banking products to its customers, can automate its retail banking business with Retail Banking module along with other modules.
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Finance (NBFC) Companies
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The NBFC specific version of MicroFinS have been designed to cover the entire working of a Company/Firm involved in Hire Purchase, leasing and related Business. The focus being on the management and control of business apart from keeping accounts. The core issues like Recovery and Deposit Management have been thoroughly covered, which are common to all. Apart from that many subjects which fewer companies deal with have also been covered like functionality for Electronic Check Clearing (ECS) mandate, normal clearing functionality, PDC management, Default Notices, Asset Seizure, auction notices, asset repossessing etc.
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The Solutions covers: Vehicle Finance, Loan against Property, Loan against Gold, Fixed Deposits, Recurring Deposits, Financial Accounting and Reporting.
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Employee Credit Society / Union
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MicroFinS has been successfully implemented in some of the leading and advanced employee credit societies offering complete banking experience to its members. The important functional features of Employee Credit Society Version includes
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Member Registration
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Shares Management
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Compulsory Deposits Management
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Voluntary Deposits (Savings)
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Member Loan Guarantor details
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Loan Interest Calculation AND Online Demand generation and posting
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Dividend Calculation
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Financial Accounting
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Financial Statements and MIS Reports
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