Microfinance & Microcredit Institutions (MFIs)
Micro Finance Institutions (MFIs) are organizations that provide a range of financial services to various types of micro-companies, enterprises (SMEs), self-employed professionals and retail customers, or to social groups who otherwise would have no other access to financial services. MFIs are like small banks with the same challenges and capital needs confronting any expanding small venture, but with the added responsibility of serving economically marginalised populations.
With PROFITS® Micro Finance Credit, MFIs can take advantage of reliable, powerful, and safe technology platform, to build their busines model, stay upfront in the market, and increase levels of business resilience. The solution, utilises PROFITS® Products Generation Engine to create quickly and efficiently new products and services, as well as PROFITS® Business Rules Engine to dynamically define all applications logic, and to interface with third party systems and applications.
Digital Customer Onboarding helps Micro Finance Institutions to become more agile by responding to changes at the speed of information, enabling them to digitally sign up their customers, process KYC, complete a loan procedure, and open their loan accounts within a few minutes. Netcompany-Intrasoft offers a tailored solution, to let MFIs drive their customers onboarding, giving them all the guidance they need to achieve their successful onboarding, and take the benefits from a world-class experience that will drive a long term win-win engagement for both sides.
Loan Origination is a key process for Micro Finance Institutions that need to effectively manage the process when a customer obtains a loan from a lender, which involves several stages, beginning with the loan application, ending with the final granting of the loan. Netcompany-Intrasoft offers a robust and frictionless solution to eliminate the unnecessary steps, and to integrate related actions, providing Micro Finance Institutions with the ability to reach out the current and prospective customers. Customers can start the process anywhere, anytime, through all digital channels, operating under latest technologies and advanced security.
Credit Risk Management is a key factor related to a MFI’s credit activities since it directly affects their main earning asset, their loan portfolio, including the risk of financial losses related with not collecting expected earnings, or on results from loan defaults, as well as negative social impact from not well performing credit activities. With Netcompany-Intrasoft’s solution MFIs can take advantage of complete Credit Risk Management solution, that provides management of credit risk for all forms of Micro-Credit and Portfolio Quality Assessment, as well as functions related to the assessment of the creditworthiness of the prospective borrower.