The MFI industry today is in the midst of a radical transformation that aims to take the socially driven sector out of the throes of mediocre management to a professionally plying, well-governed organisation. The larger message of financial inclusion, the overlying culture of cooperating communities and the perennial pursuit of perishing poverty needs to remain at the core of how these institutions function and achieve their greater goals. However, given their task and with the industry on an exponential growth track, the next big question is whether today's systems and processes has the ability to support and sustain tomorrow's growth.
One of the big challenges MFIs face is to deploy and leverage IT & Fintech solutions,
which can help them with translating their new ideas and methodologies into creating lending and saving solutions suitable for the very diverse needs to the target markets. MFIs also face huge costs involved in rendering their services digitally to extend their outreach, which makes the propositions economically unviable.
Mobi Micofin from WPITS is a revolutionary Microfinance core software platform and offers great flexibility in creating micro lending, micro saving and micro insurance products with highly flexible business rules to hundreds of different type of products to suit very diverse needs of the customers. Mobi Microfin is a comprehensive and fully mobile enabled core banking system, with enhanced innovative add-on modules like Agent/Branchless Banking, Loan Officer Application, QR Code based transactions, Biometric Authentication via Finger Print & Iris Scan.
WPITS has addressed the problems by providing highly cost-effective options, which include Onsite Capex, Opex deployments and Cloud-enabled platform for pay-as-you-go cloud based SaaS service that comes with very low or zero infrastructure investments.
The expertise of WPITS lies in the Telecom and Fintech Software domains and therefore, it offers the best of both the worlds in its solutions. In a bid to establish as a one-stop-shop for all technological needs of MFIs, in addition to a core software platform, WPITS offers innovative mobility options and several secure access technologies like Mobile Apps, USSD, SMD & IVR.
A connected and distributed field team means being able to reach clients in new ways, smarter client management and stronger client relationships.