MicroFinance
Product Overview
Microfinance is a form of retail lending which provides small ticket loans to that segment of society generally termed as the ‘productive poor’. This segment usually comprises of the underprivileged/unskilled/semiskilled population who do not have access to the formal Banking system in the economy. R Systems offers an integrated solution that includes Loan Originations and Loan Management modules required to support both Group lending and individual loans typical to the Microfinance portfolio.
Highlights
- Web enabled and fully automated solution
- Multi portfolio, Multi-Organization, Multi-lingual & Multi-Currency implementation
- Multi-channel access for loan applications including mobile phone and hand held devices
- Interfacing ability with multiple host systems: Core Banking applications, GL Applications & Credit Bureau
- Multi-tier Organization set up including Regions, Areas, Branches, Centers and Groups
- Flexible Workflow definition for underwriting of different types of Loans
- Group Approval, Center meetings, Group disbursement and repayment
Benefits
- Supports Weekly, Bi-weekly, fortnightly repayment
- Offline module with facility to upload data
- Secure, Scalable and user friendly
- Compatible with Open Source Solutions