A software solution suite that helps microfinance institutions evolve into a microfinance bank

Ascend Financials comprises of six major solution components: comprehensive core banking; Android application; micro-insurance; branchless banking; internet banking and ATM interface.

Operate in hybrid mode

With a seamless mobile app that operates both in offline and online mode you have the capability to continue operations in remote areas

Open Platform Technology

Get higher flexibility since our solution is developed in Java and runs on Windows and Linux

Modular & Component Based

Only choose and pay for the modules you need.

Loans and Advances

Centrally create loans and advances products on the fly through parameter selection


Centrally create various types of deposit products in minutes through parameter selection.

Portfolio transfer

Transfer a large number of customers and their portfolio from one branch to another within minutes.

Agent Banking

Expand your outreach in the absence of a brick and mortar infrastructure

360 Degree Reporting

Deep dive into your own and client KPI data for insightful information

Loans and Advances

Manage all types of term and continuous loans from a single solution


Increase mind share by providing your customers with the ability to make deposits

Portfolio transfe

Transfer a large number of your customers or groups from one branch to another

If the largest non-government development organization has trusted us for 23 years with our microfinance solution, so can you.

How we add value to different levels of your organization

Ascend Financials comprises of a comprehensive core banking solution (Ascend CBS ), an Android application for microfinance operations (Ascend Smart Collection ), a wide-ranging micro-insurance solution (Ascend Micro-insurance ), a branchless banking solution (Ascend Horizon ) and a modern internet banking solution (Southtech Internet Banking ).

Senior Management

  • Increase overall profitability by saving time and money
  • 24/7 access to reports and key performance indicators for prompt monitoring
  • Future-proof the IT infrastructure as corresponding IT expansion costs are minimum

Mid Management

  • 360° individual customer report showing total exposure at the click of a button
  • Dashboard showing the applicable key performance indicators
  • Branch information is accessible from regional and divisional offices
  • The online approval system will allow mid managers to approve/reject branch operations from regional, divisional or branch offices

Finance and Accounts Department

  • Receive consistent reports in the set template provided by Head Office
  • Make quick changes to policies if directed by regulatory authorities
  • Automatically generate real time financial statements

Credit Department

  • Check automated MIS reports when required
  • Design customized financial products as per business needs
  • Able to design and set up policies quickly

Loan Officer

  •  System generates collection sheets for due and overdue payments
  • Generated collection sheets can be used with any android device

Branch Manager

  • Instantly monitor overall performance of the branch
  • Communicate with the product service officers easily
  • Save time by automatically sending day to day reports to the head office

How Can We Help You?

We can help you from automating your HR to implementing ERP for your organization

Module Overview

This software is a modular and component based solution. Currently, the product has a total of 17 independent modules.
3 modules are mandatory for all organizations. Customers may choose the other modules as per their requirement.


  • 3 Mandatory
  • 8 Banking
  • 3 Remote/ ADC
  • 3 Tracking and Monitoring

Central Control

  • Sets up operational policies for all modules, including the Security & Administration Module
  • Sets up chart of accounts and loan and deposit products for the organization

Security & Administration

  •   Sets access rights for all the users of the system
  • Allows all housekeeping processes (e.g. end of day, weekend setting, daily back up etc.)
  • Dual control over all system administration functions

Multi-Currency Accounting

  •   Automatically manages multiple currencies into base currency
  • Generates standard financial statements such as balance sheet, income statement, cash flow statement, etc. by total overall organization, branch or project
  • Provides funding source-wise financial reports

Customer Information

  •  Allows setting up of different types of contacts (e.g., guarantors and nominees) and customers (e.g. individual, partnership, group and corporate customers)
  • Creates new field dynamically if necessary for KYC (Know Your Customer)
  • Sets up customer management by branch, center, group and/or group member

Cash Management

  •  Allows users to buy and sell foreign currency as per the organization’s currency rate setup
  • Generates collection and disbursement sheets and updates batch-wise data
  • Processes cash and cheques deposits under a single transaction


  • Supports current deposits, savings deposits, short-term deposits, recurring deposits and fixed deposits
  • Supports different business policy-wise interest calculations
  • Sets up interest rates according to product, slab or account type

Loans and Advances

  • Supports all types of term and continuous loans
  • Supports different repayment methods for term loans including one-time payment loans
  • Customize interest rates by variable or fixed interest rates for individual customer
  • Restructure and reschedule loans by customer or group

Collateral Management

  •  Sets up loan collaterals of every type
  • Allows the management of collateral coverage
  • Enables revaluation of loan collaterals

Cheque Management

  •  Provides cheque requisition, printing and delivery instructions and cheque book issuance to customers from the system
  • Allows managing and cashing of cheques from own and other banks

Micro-Insurance Module

  • Manages both life and non-life (general) insurance
  • Sets up different business policy-wise insurance products
  • Allows setting up of benefit type and facilities available under each policy, e.g. ‘health benefit’ includes treatment for minor illness, doctor visits, medicine, hospital bill etc.

Money Receipt Management

  •  Delivers request from product service officers (field officers) for new money receipt books, gets online approval and receives delivery of money receipt books for field operation
  • Maps money receipt numbers to each transaction

Internet Banking Module

  •  Allows balance enquiry, printing account statements, transfer of funds from account to account (including account of other customers) and requests for cheque books

Branchless Banking

  •  This Android based mobile application allows product service officers (field officers) to collect loan repayments and deposits in remote locations using a unique registered mobile device, replacing collection sheets

Agent Banking

  • Directly acquires, tracks and serves customers through the Internet in the absence of a brick and mortar banking infrastructure
  • Is platform independent
  • Pre-configured processes allow fast roll-out of branchless banking
  • Customer authentication by EMV-based cards and/or thumb print authentication
Tracking and Monitoring​

Social Performance Indicator

  •  Allows loan impact analysis to be done by funding source, i.e. each individual’s social impact from a loan can be traced back to a specific donor’s fund
Tracking and Monitoring​

Consolidated Reporting

  • Large number of standard financial and MIS reports by branch, a combination of branches, regions, and overall organization
Tracking and Monitoring​

Business Intelligence

  •  Allows deep data mining and customized analysis for trends by branch, region, customer group, product type, etc.

How Can We Help You?

We can help you from automating your HR to implementing ERP for your organization

The unique features of this solution that sets it apart widely from its competitors are as follows:

  • Shift from being an MFI to a microfinance or development bank can practicably be achieved overnight
  • High parameterization allows the creation of new loans and savings products on the fly
  • Optional dual control (maker-checker) feature – something that is not present in most other MFI solutions
  • Accurate calculations for reducing balance loans not present in many competitor products
  • Supports different types of interest calculation and repayment methods such as Equal Payment, Fixed Principal, Balloon, Interest First and Principal and Interest at different intervals
  • Advanced Credit Officer Management that includes the setting of different targets and the measurement of performance.
  • Social performance indicator – can easily trace back the social impact of loans by source to individual customers.
  • As the solution is Unicode compliant, it allows setting captions and entering data in the local language.
  • The Graphic User Interface (GUI) is configurable in the local language and is friendly and predictable enough for rurally based front-line staff of an MFI or a cooperative.
  • Capability of building ad-hoc reports as and when required by user groups with the inclusion of an enhanced report generation tool.
  • Allow seamless interfacing with alternative delivery channels such as mobile banking, smart collection and agent banking.
  • Enhanced audit trail and enhanced maintenance of security by user profiling.
  • Architected to allow 99.996% (depending on hardware configuration choice) system availability due to advanced solution architecture – if main database server crashes second server seamlessly takes over and application servers are load balanced.
  • Optional document management system
  • Optional business intelligence tool
  • Capable of handling millions of transactions supporting thousands of branches and users simultaneously.
  • End to End on Java Technology
  • Component Based Architecture
  • Operating system neutral
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