Ascend Banking is a powerful financial management system independently assessed by CGAP and was awarded 23 stars out of a possible 25 stars in 2009. CGAP (the Consultative Group to Assist the Poor) is a global partnership of 34 leading organizations that seek to advance financial inclusion. In their assessment, Southtech Ascend Banking was found to have an ‘excellent coverage of requirements for both MFIs and banks.
The solution is for retail and commercial banks and sophisticated microfinance institutions (MFIs) as it includes the provision of group lending and other special features required by MFIs. By delivering a tested application presently used by several MFIs and a number of development and commercial banks, Ascend Banking is one of the most feature-rich and yet cost-effective solutions for banks and MFIs aspiring to dominate their respective marketplaces.
The solution delivers high ROI by automating expensive manual activities, implementing controls and generating reports for different user categories allowing for effective decision making.
Ascend Banking enables investors and donors to derive great comfort from new transparency levels. MFIs and banks are able to operate in accordance with best practices at significantly lower operating costs and offer clients reduced interest and service charges. With head office consolidation and business intelligence capabilities, Ascend Banking is a highly feature rich solution that propels stakeholders to new heights of excellence.
This rich financial management solution can operate in a centralized, distributed or hybrid operational mode and the parameterized solution can be tailored to the individual requirements of customers without the need for many enhancements. It includes multi-currency accounting operations and is Unicode compliant, allowing the support of multilingual fonts.
While the benefits of Southtech Ascend Banking are numerous, some of the major benefits include:
- Significantly lower operating costs, lesser service and interest charges to customers, enabling higher customer satisfaction
- Optimum efficiency through consolidated head office module and generated reports
- Deploy either in a centralized, decentralized or hybrid mode providing high flexibility to our customers
- Operate a unique yet effortless design architecture with simple GUI, reducing your training costs
- Manage on-line and off-line operational functionality but seamlessly consolidate at the regional or head office level