Our Services

inove MicroFinance Suite

An Overview

The role of microfinance as a sector is to reach out to the large number of poor people who remain outside the formal banking system and make financial services accessible to them. Matter of factly, microfinance is fast emerging as a powerful tool for poverty alleviation in growing economies. Investors now have high expectations from Micro Finance Institutions (MFIs) considering the growing incidence of successful small businesses. This is a concern because owing to the inherent business model of microfinance providers, it gets difficult to contain costs and maintain efficiencies as the number of customers increases. One way to solve this is through the selection of the right microfinance technology that is scalable, reliable and affordable, and at the same time, allows MFIs to focus on their core business areas.

To handle the operational problems inherent in microfinance institutions. inove has developed imfs(inove microfinance suite). The processes used to manage information as it flows in, out and within a MFI is of critical importance. With the growing need of small income earners to access organized funds, MFIs now need to monitor the growing number of customers with small transaction values. IMFS is able to manage such minute customer records and portfolios, and also help. Coded to offer functionality, power and flexibility, IMFS enables an organization to achieve high productivity, more efficient customer service and greater profitability.

At inove, we believe that the most sophisticated system is the one that is simple to use. We want our partners to take advantage of all that IMFS has to offer and we work closely with our partners to witness the changing trends so that we too can anticipate and continually innovate.

Benefits of imfs

1. With a user friendly customer query and dashboard, users can view variety of business and customer information all in one screen.
2. Increased customer service efficiency, with faster transaction, loan and group processing.
3. Very fast and easy to import and export data in any format.

4. Customizable interest procedure that allows customers and businesses to enjoy the changing interest rates in the market.
5. Accurate and efficient MIS Reports for analysis of profits and loss for the business.
6. Consolidatable balance sheet for different branches.