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Microfinance Software

More powerful than a banking solution

A software solution suite that helps microfinance institutions evolve into microfinance banks

Ascend Financials comprises of six major solution components: comprehensive core banking; Android application; micro-insurance; branchless banking; internet banking and ATM interface. The solution is best suited for MFIs and Non banking Financial Institutions (NBFIs)

Operate in hybrid mode

Borrowers located in hilly areas with no internet connection? Operating from a border secured area with restricted internet access? The regulatory body requires you to run brick and mortar operations?

With our seamless mobile app, you can now operate in both offline and online mode depending on your needs. Our system’s architecture gives you the flexibility to reach the unreached even in remote areas- with or without internet

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

Deposits

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

Portfolio transfer

In case of branch overload, increase or divide the scale and size of your MFI with smooth and easy data transmission. 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

Deposits

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

Portfolio transfer

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

The Software That Takes Care of Your Regulatory Compliance

Make Your MFI Microcredit Regulatory Authority (MRA) compliant with Ascend Financials

Our dynamic reporting tool lets MFI clients produce financial reports in various formats that are in alignment with every microcredit regulatory body. Eliminate the need to manually prepare reports on Excel altogether and avoid the double work.

Having to transition to a formal bank from an MFI?

With Ascend Financials, keep up with regulatory bodies like Microcredit Regulatory Authority (MRA) by adapting to their new requirements in no time. The data we capture are done keeping transition from MFI to development bank in mind, thus enabling a smooth and proficient data conversion when the demands arise.

brac

If BRAC, 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

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 requirements.

southtech microfinance software modules
Mandatory

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

Mandatory

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

Mandatory

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

Banking

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

Banking

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 for Microfinance organizations

Processes cash and cheques deposits under a single transaction

Banking

Deposit

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

Banking

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

Banking

Collateral Management

Sets up loan collaterals of every type for Microfinance Institutions 

Allows the management of collateral coverage

Enables revaluation of loan collaterals

Banking

Cheque Management

Provides cheque requisition, printing and delivery instructions and cheque book issuance to microfinance customers from the system

Allows managing and cashing of cheques from own and other banks

Prevents duplicate borrowing from multiple branches by single customer. Maintains authenticity through voter ID, photo identification and signature

Banking

Micro-Insurance Module

Manages both life, non-life (general) and mixed (life and non-life) 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.

Banking

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

Remote

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

Remote

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

Remote

Agent Banking

Directly acquires, tracks and serves customers through the Internet in the absence of a brick and mortar banking infrastructure

Is platform independent- can run in all operating systems since its developed in Java, Java EE and MySQL

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 Microfinance Institutions 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 our microfinance solution that sets it apart widely from its competitors:

  • Shift from being a Microfinance Institution to a Microfinance or development bank can practically 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 Microfinance 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 Microfinance Institution 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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