• Takyon's MFI SOFT
    Takyon's MFI SOFT

     

    MFI Soft is a comprehensive yet highly simplified application developed by Takyon for MFIs.  MFi Soft has evolved with the evolution of the industry in India and is a highly sophisticated MIS and Accounts application for MFIs.
    Information Technology plays a key role in providing sustainable micro financing to the bottom of the pyramid sector of the society. Operational Efficiency and reach ability are the key factors determining the efficiency of an MFI.

  • Adopted Technology
    Adopted Technology

    MFI Soft is developed using VB.Net technology and SQL Server database as part of the package. It is a Multi-User MIS application for Micro-finance that combines basic the data with Accounts, Savings, Loan transactions and insurance. In addition you can enter other accounting transactions, Funder-wise repots, SMS notification for every transaction etc through this application. MFI soft is suitable for individual and group lending operations.

    MFI Soft handles individual members as well as group and deposits and loans can be tracked at group level or at group-member level. This makes the program suitable for individual lending and Group lending.

  • MFI SOFT Reducing the Limitations
    MFI SOFT Reducing the Limitations

     

    --> Use of automation in collection, transferring and processing of transactions.


    --> MIS to meet timely information needs of the management, governance and the customers.


    --> Development of flexible financial products combining saving, lending and insurance that meet the requirement of customers and also reduce the cost of transaction.


    --> Automation of retailing of financial services of multiple providers through single delivery point

  • MFI SOFT Clients
    MFI SOFT Clients

     

    ESAF- ESAF group of institutions serves the society in multiple areas with a primary intention to improve the living standards and to provide quality products and services.

    Shalom - Shalom Micro Finance Limited is primarily involved in micro credit and micro housing.

     

    Hope Foundation- Hope Foundation, established in 2005, is a voluntary organization committed to envisage and accomplish socio economic development programs carved for the benefit of the under- served community in our society.

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Automation

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MicroFinancing  Institution


MFi- Soft is a comprehensive yet highly simplified application developed by Takyon for MFIs.  MFi Soft has evolved with the evolution of the industry in India and is a highly sophisticated MIS and Accounts application for MFIs.
Information Technology plays a key role in providing sustainable micro financing to the bottom of the pyramid sector of the society. Operational Efficiency and reach ability are the key factors determining the efficiency of an MFI.


  • Problems with the conventional systems
    • Human errors while entering data again and again.
    • Problems in tallying numbers.
    • Data of many indicators not reported.
    • Valuable time of meetings spent in correcting the data.
    • Use of names differently – Thrissur some times called Trichur.
  • MFI reducing the limitations
    • Use of automation in collection, transferring and processing of transactions .
    • MIS to meet timely information needs of the management, governance and the customers.
    • Development of flexible financial products combining saving, lending and insurance that meet the requirement of customers and also reduce the cost of transaction.
    • Automation of retailing of financial services of multiple providers through single delivery point.


Clients Profile ::.

  1. ESAF :   ESAF group of institutions serves the society in multiple areas with a primary intention to improve the living standards and to provide quality products and services. Started with micro financing, ESAF now has presence in health care, retail, real estate, Handicrafts, Natural Resource Management, Milk Processing to name a few. Takyon has grown under the guidance and support of ESAF and actively takes part in the philanthropical initiatives of ESAF.
  2. Shalom : Shalom Micro Finance Limited is primarily involved in micro credit and micro housing. Shalom is dedicated to the development of underprivileged and marginalized of the society by facilitating sustainable initiatives of the target community, empowering women, promoting education, hygiene and providing decent shelters. As an NBFC, Shalom Micro Finance believes that the only possible technique of empowerment is increasing the income level of the poor and underprivileged and in an effort to do so we assist each woman involved in the Shalom Self Help Groups (SHGs) to take up some kind of micro enterprises. These livelihood activities and skill trainings go a long way to create substantial changes in their attitude and improve their lives.
  3. Hope Foundation: Hope Foundation, established in 2005, is a voluntary organization committed to envisage and accomplish socio economic development programs carved for the benefit of the under- served community in our society. Our uniqueness in providing comprehensive and need based services to the beneficiaries addressing their multifaceted requirements had rewarded us with unmatched and amazing growth. Hope Foundation is a well-known Non Government Organization (NGO) located at Palakkad district in Kerala. It is a Charitable Trust registered under the Indian Trust Act 188

Requirement ::.
Due to strict regulations and competition, MFIs have huge pressure to bring down the interest rates on the loans resulting in reduced profit margin. Most of the leading MFIs have realized the advantage of leveraging on Information Technology to improve operational efficiency.
The Requirement was to make the accounting and MIS automated with loan disbursement and repayments more efficient and easier for the field staff and for the clients. Value added services like SMS Alerts for clients are also being integrated.

Solution ::.
The emerging trend is to provide software and database services in a SAAS Model considering the viability of the MFIs to have sophisticated technologies. MFIs are still considering the usage of licensed software since most of them do not wish to externalize their customer and business data, which they fear will happen in SAAS Model. Some service providers have come up with service offerings in ‘pay as you use model’ which is a flexible model for MFIs to access technology without huge capital investment.
Largely, SAAS Model takes momentum with more and more small and midsized MFIs opt for it thanks to the pressure from funders who consider usage of technology as a key indicator of operational efficiency of MFIs.
MFISOFT is developed with .net applications at the front end and SQL Server at the backend. This product has been implemented in more than 200 branches. MFI Soft could be given as SAAS by synchronizing the same with CBS application.

Result::.

Many MFIs confused to select the right technologies and get the most from their investments. MFI soft helps micro financing institutions by providing;

  • Easier, faster & more complete access to the available information, adding to better decision making and improved customer service.
  • Helped to reduce the number of errors, improved reliability of the data and reports, greater confidence from customers and stakeholders.
  • Because more reports can be generated more frequently and more timely, the transparency of the operation and condition of the MFI improves.
  • Faster growth of the institution. This contributes to an early breakeven and profitability of the MFI’s operations.





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w  Problems with the conventional systems