Microfinance Institutions currently operates in over 100 countries, serving more than 92 Million clients. The microfinance services involve small loans and small savings. This means that microfinance organizations reach to the unreachable and help the poor to have access to finances to boost their livelihood. Most microfinance operating in rural areas uses the manual formation of keeping records of every transaction whatsoever. The evolvement of Microfinance was felt in the 90s and to this day it has become the world’s biggest project to upgrade poor people and low income earners.
Technology in sense has played key role in engaging microfinance to become the biggest finance backbone in our country. The development of systems that enable the microfinance to run efficiently and smoothly has been a major goal in all countries.
Jisort Banking Software been software is one that serves microfinances in bits and bounds. Tentatively incorporating the goals of a Microfinance which are promoting accountability, transparency and easy compliance Jisort Banking Software has the core functionality modified. Looking at the larger or key features of microfinance the Loan processing, Approval and Repayment are the strength of the Microfinance.
A Microfinance doesn’t save it only lends to its clients. With a Microfinance you are a client not a member.Jisort Banking Software system has a Loan module that has several functionality or semi-modules that are paramount to Microfinance. The Loan creation allows a client to borrow loan and his/her details or process entered in the system. This allows the microfinance organization to keep track on this loans. The Loan approval and the Appraisal is another feature in the Jisort Banking Software that enables Microfinance to offer lending services limitless.
Disbursing loans varies on various attributes as per the organization and it happens on different intervals. The Loan disbursement functionality is keen on capturing the dates of disbursement, amount, receiver of the loan and also the method or mode of disbursement. A Microfinance can rest assured that through this function it can never disburse money that it doesn’t have.
Jisort Banking Software is efficient in the sense that it alerts the user if there is no enough money to be disbursed. Approving loan is not a hustle as once the loan application is through one approves the loan and it captures the date of approval and amount approved. Amortization in Jisort Banking Software saves the Microfinance the long process of calculation to enable the client weigh how he/she shall be repaying the loan. Amortization intensifies the dates of each repayment and how much.
This assists to track loan repayment by any Microfinance.
Microfinance serves groups and individuals who are in need of their services. A group made up of several members is able to borrow money, utilize it and repay back the money. Jisort Banking Software as a great Microfinance system allos group and individual lending.
A group is able to register as one and its details captured to assist in tacking of the group. The group members or the representatives are regarded as the key players on issuance of the loan.. Jisort Banking Software is flexible, efficient, resourceful and time intensive. Jisort Banking Software been a great Microfinance system creates a fast time to market the Microfinance and regulate compliance while offering the lending services. Generating custom reports is agile as Jisort Banking Software allows all reports including Trial Balance and Cashbook. Petty cash or the Expense module incorporated in Jisort Banking Software helps to capture daily expenditure of the Microfinance and keep record of the same.
Interactively Jisort Banking Software is easy to access and last but not the lease it is integrated with Mobile money transfer. Clients can pay through their phones to the organization. Accessible anywhere so no one can blame distance or time for late prepayment of loan. Microfinance clients can access the system services wherever they are.
With Jisort Banking Software every Microfinance is endorsed with growth opportunity and an open market to serve. Indeed Jisort Banking Software is the best for every Microfinance out there.