Our Next-Generation Microfinance Software, which was developed using the most advanced technological stack, enables MFIs to assist their clients in achieving success, expanding their businesses, and boosting the economies of developing countries. We included all of the crucial elements required in every microfinance business when developing our software.
Features Of Our Software
Financial transactions carried out online are referred to as internet banking. Almost all banks provide online banking services. Through net banking, you may manage your debit and credit cards, check the balances of your accounts, and transfer money. It is a time-saving tool that is accessible 24/7. We offer you the best and most practical online banking services.
Giving a person's Aadhaar number and demographic or biometric data to UIDAI's Central Identities Data Repository (CIDR) for verification is the "Aadhaar Authentication" process. Using the data at its disposal, UIDAI then verifies the accuracy—or lack thereof—of the information submitted. In our multistate cooperative society, you will also have access to this skill, which enables you to swiftly authenticate an Aadhar.
A business report is a collection of facts and evaluations that makes it simple for a company to gather important data. A wide variety of formats are available for business reports. We provide you with the accurate financial statistics you need to make choices and handle other activities for your business using our multistate credit cooperative society software. We provide you with full details.
Modern electronic funds transfer, or EFT, technology is used with the traditional idea of wire money when transferring money online. Most likely, you routinely utilise EFT, a totally electronic method of moving money from one bank account to another. Paper money is not moved; only data is. With the help of this feature of our programme, you may save a tonne of time and eliminate needless paperwork.
SMS and paging are similar. Contrarily, SMS messages do not rely on the phone being in range or active and will be retained for a period of days. All notifications are delivered to you via our SMS management.
A systematic approach to handling emails is known as email management. Its goal is to increase the effectiveness of email operations while minimising any potential harm that handling emails may have to a person's performance and sense of job satisfaction.
QR Code / UPI
A digital payment acceptance channel called UPI QR (Scan & Pay) is visible at the place of business to make it easier for customers to pay by scanning a QR Code from any UPI-connected mobile app and from anywhere.
E-NACH is the abbreviation for Electronic National Automated Clearing House. You only need to validate the mandate once using your Net Banking credentials or a debit card; all subsequent payments won't require your assistance.
Modules Of Our Software
We created our modules to meet the requirements of a microfinance organisation.
The most popular form of account selected when beginning a banking connection is a savings account. The fundamental objective of a savings account is to promote responsible financial management and the practise of saving some of one's income.
MIS, or management information system, is the term used most frequently to describe this computer-based system. With the aid of MIS, the company, and managers in particular, can organise and evaluate information.
A bank or other financial institution's branch operations are managed by a branch manager. Every branch management service possible is available from us.
A computerised platform known as a loan management system is used to automate every stage of the loan lifecycle, from application through closure. All records are kept electronically, which reduces your work. It is constantly available.
A shareholder is any individual, group, or corporation that owns stock in a specific business. To be regarded as a partial owner, a shareholder must own at least one share of the company's stock or mutual fund.
To keep track of the agents' availability and initiate automatic action, use the Agent Management Services. if a representative gets sick or leaves suddenly.
The practise of controlling how a company's clients, staff, and other stakeholders interact through time is known as customer management. It's crucial for firms to match their consumer attitude if they want to succeed in the long run.
Financial accounting is the process of gathering information and reporting it to the many stakeholders of a business. Management accounting, on the other hand, displays financial information and business activities for internal management of the company.
Loan Against Deposit
Customers can take out a loan against their fixed deposit, which is a form of secured loan, using their fixed deposit as collateral. The amount of the loan is based on the amount of the FD deposit. This could be between 90% and 95% of the original deposit.
Human resource management, or HRM, is the area of a commercial business that deals with employing, managing, and terminating employees. How employees contribute to the operation of the business is highly valued by HRM.
A popular admin dashboard design that may be used for financial, reporting, CRM, or any company is the Bank Financial Dashboard UI Kit. It has a wonderful layout design and concentrated UI elements.
A POS machine is the most advanced payment processing equipment. It accepts all significant credit and debit cards, keeps track of transactions, and prints receipts. The point-of-sale systems have advanced over time and are now more sophisticated and user-friendly.
Customer Service Point
Any company that the customer contracts to handle services associated with any System component is considered a Customer Service Provider. We pledge to give you the finest customer service possible.
To consolidate administrative and communication activities, membership groups can employ software made for them.
RD, FD And Pigmy Account
We truly think that tiny drops of water add up to a big ocean for our Daily Deposit (Pigmy) service. This deposit plan can be advantageous to businesspeople, professionals, wage workers, teachers, salaried employees, traders, housewives, etc.
The microfinance sector in India has more than 3000 MGIs, NGOs, and NGO-MFIs spread out over the country.
The different types of institutions that provide microfinance in India are Commercial banks. Credit unions. Non-governmental organizations (NGOs).
Any selected customer group may be granted a loan to use as startup money for their microbusiness or other income-generating ventures in an effort to improve their standard of living.
Microfinance can give women to increase their income generation, loans for homegrown entrepreneurs, emergency medical loans, home improvement loans, and home extensions/ business improvement loans.
For those who reside in far-flung villages around the nation, microfinance is an alternative to banking.
The services provided by banks are supplemented by microfinance organizations. Financial services like insurance, savings, and remittance are additionally offered in addition to microcredit.
Yes, it is allowed.
A private business must have a minimum of two members and a capital of Rs 1 lakh. A public business must have a minimum of 7 members. Raise money: Raising the necessary minimum net owned funds of Rs. 5 crore is the next phase.
He should not have a history of defaulting in any organization. He must meet the qualifying requirements set forth by the Reserve Bank of India (RBI) and the Microfinance Institutions Network (MFIN), including total debt, annual household income, and other requirements.
Microfinance called Village Financial Services launched its operations in FY15–16. The lender provides people from economically disadvantaged groups in society with lending options for a range of needs. The lender offers a variety of loans, such as the Sri Briddhi Loan, SME Loan, and others.
Microfinance is a banking service that gives unemployed or low-income people or groups access to financial services that they would not otherwise have. People can obtain acceptable small business loans through microfinance in a secure manner that adheres to moral lending principles.
Equitas Small Finance, ESAF Microfinance and Investments (P) Ltd, Fusion Microfinance Pvt Ltd, Annapurna Microfinance Pvt Ltd, and Arohan Financial Services Limited are some examples of the microfinance company.
It is completely legal if it meets all the requirements of RBI.
You can register a microfinance company in 2 ways:- i) as a section 8 company ii) as an NBFC
Equitas Small Finance is among the top microfinance company.
For starting a microfinance company, you need to register it with RBI by submitting all the required documents.
You can take the help of any financial consultancy firm.