Southtech Ascend Banking Presented in “Moving Forward with Innovation” Conference in Manila

22 March 2010

On 12 March 2010 MICRA Philippines held a conference to promote innovative products, approaches and practices in microfinance. Over 200 participants representing 89 organizations (microfinance providers, government agencies, development organizations and commercial institutions) attended the event that took place at the Asian Institute of Management (AIM) Conference Center.

Southtech Ascend Banking featured as one of the most innovative solutions in the microfinance and SME banking industry. Some of the innovative features that were presented included the following:

* A unique “hybrid” architecture that allows an MFI or bank to have some branches run in centralized mode while others in distributed mode and still others in offline mode concurrently thus allowing MFIs and banks to reach the unbanked

* Multi-currency accounting with built-in budgeting features that allows loan disbursement in one currency and repayments in multiple currencies without having to do any manual processing

* Group lending in many different ways

* A flexible customer database that allows a user to add new fields on the fly without programmer help

* Cash denomination control and vault control with seamless accounting for the same

* Features to store client pictures, signatures and barcode storage for easy client recognition

* Loan application and authorization by user-definable committees

* High-end parameterization allowing the creation of all types of user definable loans and deposit products

* Pier-to-pier (P2P) on-demand inter-branch transactions for offline branches allowing clients to get “online” banking facilities

* PDA interface – reduces paper wastage, workload, and improves reporting

* Document storage facility that allows storage and review of all documents with just a few clicks

* Consolidated reporting and dynamic report generation including a plug-and-play Central Bank Reporting Module

* Transaction switches interface for ATM/POS (ISO 8583 compliant)

* Swift branch merger/demerger with auto accounting for the same

* Quick transfer of members from one branch to another with only a few clicks

* Quick generic treatment of loans for disaster affected areas with just a few clicks

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