MFIs work on new banking platform

Thirty-four Microfinance Institutions (MFIs) have come together to invest in an IT company—Nepal Finsoft Limited—to launch a world-class core banking and management information system (MIS) solutions platform. The initiative has been made possible by the work of the Nepal Microfinance Banks Association (NMBA) with technical assistance as well as funding support from Sakchyam, an access to finance initiative from the UK Aid. Nepal Finsoft Limited is procuring the IT system from Puresoftware Limited and the system is expected to go live in April 2017. The platform will have a centralised system hosted at Nepal Finsoft Limited as a Shared Access Platform to which a;; subscribing banks can connect via their desktops, laptops and even tablet devices. “The launch of this platform will allow uniformity in information, leading to increased efficiency and capacity to serve clients. This will also lower overall costs as the cost of the infrastructure is being shared by all participating financial institutions,” read a Sakchyam statement. Source: ekantipur