| MF Core Micro
Finance Solution |
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| Introduction - Micro
Finance Market |
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| Micro finance is defined
as a provision of Micro Finance Institutions
(MFIs) of extending credit and other financial
services of very small amounts of money to the
poor population in rural, semi-urban or urban
areas to enable them to improve their income and
improve their overall living standards. The Micro
Finance (MF) industry, globally, is experiencing
major growth fuelled by recognition of the need
for financial inclusion of larger populations in
most countries. This objective requires quick
implementation of services delivery network,
establishment of strong business processes and
workflow and above all, building of controls &
compliance across growing enterprises. |
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| Micro Finance Market
Research |
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| According to McKinsey
& Company (2010) in excess of 2.5 billion or a
third of the world's population still does not
use banks or micro finance institutions. |
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2.2 billion of these people reside
in Africa, Asia, Latin America and the
Middle East. |
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These numbers clearly represent
opportunities for financial institutions
in their domestic markets to offer an
innovative range of high-quality,
affordable micro finance products and
services. |
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Micro Finance Market Trends |
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Technology will play an important
role in achieving the goal of making
financial services available to poor
people and people and people living in
remote or low populated areas. |
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Transaction costs will thus be
significantly reduced and "exclusion" on
grounds of being too far from a physical
outlet will continue to diminish. |
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As the technological infrastructure
(internet, cell phone networks)
continues to improve, people will be
able to do their transactions without
any physical contact with a bank branch
or a MF credit officer. |
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The rapid proliferation of cellular
phones around the world has changed the
course of human development. |
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At the same time, 1.7 billion
low-income cell phone users do not have
a bank account. Thus they remain outside
of the sphere of economic opportunities
that is represented by financial access. |
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Through their phone connections,
small business owners, farmers and
others either living in rural areas or
at the bottom end of the socio-financial
pyramid are obtaining the capability to
communicate instantly and transfer funds
to individuals and institutions. |
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| What is MF Core Micro Finance Solution? |
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MF Core is a modern and reliable
micro financing solution that enables MF
providers to reach out to this market,
with a banking solution that is easy to
implement, user-friendly, yet capable to
scale up to support a high velocity of
growth of customers and expand the range
of products and services. |
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MF Core is a fully integrated
banking solution that features
comprehensive CRM, deposit and lending
capabilities, branch automation and a
wide array of rich functionality and
enabling technologies from biometrics to
ATM and POS gateways, Internet banking,
and Smart Phone and Mobile Device
capabilities. |
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MF Core has been created around a
core system and an array of modules that
a MFI can select depending on their
current and future business needs. |
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MF Core is an out-of-the-box
solution that can easily be customized
with a wide range of functional modules
and technical capabilities. |
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| What is MF Core Features |
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Customer-centric |
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Scalable and adaptive SOA |
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Online real-time system |
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Multilingual |
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Business-service and Workflow
oriented |
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Security Access Control of the
system - User Levels |
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Connecting through LAN and WAN |
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Auto Database Backup Process |
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Connects to Multiple Applications,
Multiple Database |
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| MF Core Modules |
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Lending Management |
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This module enables creation
and management of different loan
products, tracking of both individual
and group loans, monitoring of the loan
process from application through
delinquency management and collection,
reporting in their original currency,
disbursement and re-payment. |
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Deposit Management |
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This module enables the opening
and management of customer deposits,
withdrawals as well as enabling
customized products suited to their
local consumer needs. |
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Accounting & GL |
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This module enables the automatic
generation of reconciliation reports,
balance sheet, P & L statements, cash
flow statements and more. |
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Customer Relationship Management
(CRM) |
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This module enables quick and easy
customer relationship management. All
the information associated with a
customer loans, savings, defaults; EMI
date etc is all available in one click
for access, review and connection to a
service center or Chat facility. |
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Reporting & Business Intelligence
(BI) |
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This module enables building
metrics-based monitoring and reporting
capabilities for key management decision
making with a dashboard and customized
alerts. The module easily maps to the
leading commercial and open source
business intelligence tools and a data
warehouses. |
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| MF Core Architecture |
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MF Core Solution is a robust and
scalable platform that automates micro
finance business processes on a single
technology backbone. |
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MF Core is built on the principles
of Service Oriented Architecture (SOA)
and designed to meet the requirement of
Micro Finance industry. |
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Integrated scalable ODBC databases
with excellent performance capacity for
increased number of concurrent users or
higher data volumes. |
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Excellent connectivity on Local Area
Network (LAN) and Centralized Wide Area
Network (WAN) |
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| MF Core Technical Environment |
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MF Core is built within the below
technical environment: |
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Microsoft .NET Framework 3.5 |
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ASP.NET, C#, HTML |
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Web Services |
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JavaScript's, AJAX |
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MS SQL Server 2008 & Reporting
Services |
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XML |
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Linux & C++ for integration with
Hand Held Terminals |
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| MF Core Mobile Capability |
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Smart Phone and iPad type Mobile
Devices integrating within MF Core
enabling: |
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Access Account Documents, Balances,
Transactions, and Statements and other
account information |
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Transfer funds |
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Pay Bills |
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Enter Deposit Notification |
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Enter Loan Payment Notification |
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Transaction Alerts |
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MF Core provides an automatic,
transparent and comprehensive audit
trail meeting most major compliancy
requirements. |
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| MF Core Logical Model |
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| For additional information
review the MF Core Solution Presentation on
Slide Share site. Click the below Slide Share
icon. |
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For additional information on MF
Core Solution click on the Slide Share logo
for direct access to the current MF Core
Solution Slide Presentation.
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