The Audience
Microfinance institutions and Non Government organizations (NGO) play a vital role in eliminating poverty and improving the quality of life for communities that had been at or below the poverty line in the society. Micro Finance institutions just don’t lend money, but they kindle the entrepreneurial spirit with in people who just need the opportunity to use their skills to contribute to the MFI beneficiaries independent, self-reliant and more socially responsible.
At Trinity signal Technology, We understand the importance of the Micro Credit Institutions as a society. We understand the challenges involved in operating a Micro Finance Institution and strongly improve the operations and increase the operations and increase the growth of institution.
The Challenges
Micro finance institutions have very complex, distributed field level operations that involve a lot of financial transactions every day. From the management point of view the performance of the field staff, which is contained in data that is distributed geographically over the area of operation. For an efficient operation the MFI management should have very close connection with the field staff.
Another major challenge an MFI faces is fraud. Since it can happen on the MFI field team or from among the members, it is highly imperative that all the financial data are accurate and handled securely to ensure confidence among the funding agencies as well as from among the members. Since money (in fund form) is the commodity that is handled in every essential to have a system that is fool- proof to prevent fraud and to protect the institution as well as the Member interests.
Features of MiFI
MiFI is accurate and easy to use. The staffs at Mahasemam have little or no computer experience. Accordingly, the MIS was built with an easy to use Graphical User Interface (GUI) which will enable anyone to learn and use it in a matter of days regardless of the education level or computer training.
MiFI is scalable. The software was designed keeping in mind the rapid expansion of a Micro finance institution which not only deals with the processing of loan applications and the disbursal of loans but also with different types of savings and insurance products. MiFI was designed and built as a series of modules that can be added and subtracted as per the needs of the organization.
MiFI has been integrated with accounts. The accounts module has been directly linked with the other modules. All outgoing transactions are automatically entered into the accounts module and tracked.
MiFI provides a highly fool-proof system to prevent frauds and misrepresentation of financial data. It ensures that the data is secure and unauthorized users are not allowed to access the data and manipulate it. The software allows only authorized personnel, who have been given User ids and passwords to access the database. There are basically three categories of users who can access this application. For each of the three categories of users, the application shows only certain features that are applicable to that category of users. In other words, based on the role of the users, the software gives only certain privileges.
o The Graphical user-interface is designed to be extremely simple and provide a consistent look and feel to the end user. It is aesthetically designed with pleasant colors so that it does not cause much of a train to the eyes. Its design is targeted toward easy learning and pleasant user experience.
• Maker / Checker Feature
o Ensures that every entry is verified and checked by a higher authority, a process called authorization. Entries that are unauthorized are ugh this process is tedious, it ensures the correctness of data that is entered.
• Group Management Features
o Helps the Field Development Officers (FDOs) to monitor Group meetings and Group Attendance, thereby improving operational efficiency. The FDOs can also handle Group Transfers with ease
• Built-in Business Intelligence
o MiFI incorporates business intelligence features such as Performance Analysis, Risk Analysis and Profit & Loss Analysis which enables the management to take vital decisions and plan their strategy
• Comprehensive MIS reports
o Provide Online and Offline reports for the management and funding agencies to view the current status of the financial information. Enables the management to effectively monitor the performance of their team.
• Security
o Ensures that the data is secure, as the system does not allow unauthorized users to access the data and manipulate it, thereby preventing fraud and mis-representation of financial data.
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• Technology Integration
o MiFI can also be integrated with
? Smartcard
? RFID
? Finger Print Readers.
• Primates Rapid Growth.
• Ensure Better Fiscal Control
• Reduces Unnecessary redundant work and helps re-organize the work force efficiently to increase the growth and performance of organization.
• Highly Flexible and Customizable.
• Improves Field level Operational Efficiency.
• Helps Institutions provide a Better service to their customers.
• Provides higher level of data security and integrity.
Portfolio Tracking
Member details Maintenance
Requisitions of Micro credits (loans)
Loan application Processing
Preclosure of Loans
Demand Generation
Automated Collection adjustment
Member transfer
FDO transfer
MIS Reports
Savings / Deposits
• Maintains data of both compulsory and voluntary savings of members
• Keeps track of withdrawals, deposits and savings refund.
Accounts Report
• Receipts
• Payments
• Ledger
• Trial Balance
• Balance Sheet
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