micro credit

Face Micro Credit Software:

“Face Micro” is an integrated solution that automates the whole process of a Micro C credit organization as an end-to-end solution.It supervises the entire transactional process and operation for your organization. Micro-Finance assembles data from the actual business process execution and not through any data entry operation.

 These are the following kinds of transactions that can be processed:

v  Place information

v  Component information

v  Samity operation

v  Savings process

v  Withdrawal system

v  Loan sanction and

v  Reports suit

In fine points:

ü  Collect Loan Principal

ü  Collect Loan Interest

ü  Process internal and external Loan Requests

ü  Disburse a Loan

ü  Collect a Fee

ü  Record Resolution / Comment / Note

ü  Transaction Type

ü  Transaction Date

ü  Scheduled Date

ü  Amount

ü  Debit / Credit

ü  Account ID

Client Account Features

The system should also give the end-client access to information about his/her account, either on-screen or as a printed document. The Client will possibly even less literate and educated than the Group Leaders, so effort should be made to present data in as accessible a manner as possible. Even though they won't have to interact with the system very much (if at all), they should still be able to see and visualize details about their accounts, such as the following:

·         Account Balance

·         Account History

·         Account Statement                                               

·         Period Transaction Statement

·         Payment / Deposit Schedule

Group Transaction Processing

The software handles Group Transactions, which occurs when the group representative / accountant would come to the federation office to make monthly payments and deposits.

These are the following kinds of transactions that process:

Savings Accounts

ü  Open a new account

ü  View / download current liquid balance

ü  View / download current total balance

ü  View / download transaction history

ü  Record / download deposits / withdrawals          

ü  Record / download interest / dividend income

ü  Subtract fees / charges

ü  Print Statement

Credit Accounts

ü  Record / download a Loan

ü  View / download current outstanding

ü  View / download transaction history

ü  View / download payment schedule

ü  Record loan interest / principal repayments Print Statement

Overall Accounting

The system tracks the overall financial status of the Group. This includes tracking current and historical accounts, income, expenses, etc.

v  Current Internal / External Accounts

v  Daily Cash Book

v  Cash Flow Projections / Analysis

Period Processing

The system handles end-of-period processing, including processing all interest/ dividend / fee calculations at the end of each accounting cycle.

 

Online data transfer and synchronization

Reports

The system generates an appropriate range of reports. It outputs these Reports into an electronic format that can be printed, delivered or stored, and is accessible from variety of system platforms.

v  Weekly Savings Collection                                 

v  Weekly work planning

v  Weekly Samity wise Savings Collection

v  Daily Collection Register Daily Collection Register

v  Savings withdrawal Register

v  Weekly Samity wise loan Collection

v  Loan Disbursement register

v  Loan paid register

v  Monthly Balance register

v  Savings History

v  Withdrawal History

v  Loan history

v  Daily Transaction Reports

v  Monthly, Quarterly, Annual Financial Statements

v  Customer Balances, Histories, Statements, Queries

v  and many  more

Group Management

The system manages group, user and account information. This also includes the creation, modification and deletion of Users, Groups and Accounts.

These are the tasks that would need to be processed:

v  Create a Group

v  Modify a Group

v  Close a Group

v  Add a Member to a Group                                      

v  Remove a Member from a Group

v  Create a User

v  Modify a User

v  Delete a User

v  Create an Account for a User

v  Close an Account for a User

Creation / modification of a Group:

v  Group ID

v  Group Name

v  Date Started

v  Group Address

v  Group Formal Representative

v  Group Leader

v  Other Group Officials

v  Group Members

v  Set Meeting Schedule

v  Member photo/signature validation

Security / Administration

The system maintains a login / password access for all administrative and processing tasks. There are several distinct privilege classes, and each administrative user is assigned privileges from amongst these classes.

These are the specific privilege classes and the allowed operations for each:

v  Super-User

v  Assign User Privileges

v  Create / Modify /Delete Groups

v  Group User

v  All tasks for Federation Management

v  Client

v  View Personal Account Details / History

Customization

Our solution is fully customizable solution as per the specific requirements (possible) of the clients.

System Environment

Item/Component                     Specification/Description Purchaser need

Platform                                  Built completely on Microsoft Dot Net Platform.

Database                                 Runs on Microsoft SQL Server 2005

Operating System                   Microsoft Windows XP/Server 2000/Server 2003