The UPMA State Micro Finance Conclave was organised by Microfinance Association of Uttar Pradesh in association with The Times Group and Federation of Indian Chambers of commerce and Industry (FICCI). It was held on 21st August 2017 in Lucknow and mainly highlighted the initiatives of Microfinance Corporation in small industries development.
The event was marked with the presence of some biggest names from the world of banking and finance who came together to discuss and debate critical issues pertaining to the MFI sector and chart the road map for the future. The event witnessed largest gathering of CEOs from MFI sector, CFOs, senior representation from regulators like SIDBI. The conclave highlighted the significance of microfinance and the necessity to ensure its easy accessibility.
The event was divided in three sessions, the first session was "Governance in Microfinance", where the panel discussed observance of best Corporate Governance Practices and Building public image. The second session, "MUDRA Yogna Behind the Numbers" where the panel discussed the way forward for MFIs in engaging with MUDRA (Micro Units Development & Refinance Agency Ltd.). The last session, "Demonetisation: Impact, Learning and Way Forward", was to encourage financial sector to develop systems and procedures to combat any such eventuality.
While discussing about changes brought in finance sector after demonetisation and the role of Microfinance institutions in providing finance to SMEs and small entrepreneurs, Mr. Sudhir Sinha, CEO, UPMA stated that, "We should work towards providing small loans of 50 thousand and help towards women empowerment in small and medium business sector." He added that, "We should encourage people to make use of cashless transactions in their business so as to achieve the goal of making India Digital which is the road to nations development."
The CEO of Nelito Systems Ltd, Mr. Punit Jain was the panellist for discussion on Demonetisation: Impact, Learning and Way Forward where he averred, "Digital is the need of the hour and to have both high tech and high touch is the necessity in today's world. Currently every business should know the customer value, have strong technology and take steps towards making their business agile, so that they can adapt to the changes quickly and cost effectively."
He also stated that, "After demonetisation some of the MFIs which had strong IT Systems managed to react faster but many of the large microfinance companies took time to stabilize and have reasonable IT systems in place. As per the present scenario cashless transactions is mandatory, quick and cost effective. For this we need to upgrade ourselves according to the latest trends and technology to survive in such a competitive world."
This event also focused on how financial service providers must take efforts in increasing financial self-sufficiency and expanding client reach and should also have ability to meet high performance standards. This forum was a melting pot of futuristic ideas for the Microfinance sector.
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We have successfully made Nelito's Fincraft Software for NBFC live in early March for LOS,LMS and Sanjiv Khalkho, Arijit Chakraborty with his team have been very instrumental in making this software live . I would like to appreciate on the turnaround time during the go live phase of the team in getting some of our key requirements done and helping our users to use the software for recording and disbursing all the sales from the software.
In technology side I would like to praise Pramod Navale and Ganesh Khetmalis for in depth knowledge of the product and their technical skills is outstanding. Looking forward for the continued relationship for our next release and whole of 2018.
"Nelito has Good knowledge of industry. Good customer orientation. They were Flexible and Open to new ideas and suggestions."
"For a Bank of our size, this system suffices and is very cost effective. Almost all of the bank’s activities run on the one system. Nelito constitutes a partner more than a supplier and the relationship includes provision of the bank’s underlying technology as well as its Fincraft range of applications."
"The best mix of functionality and technological support and our vision of “Cash Less and Paper Less” work environment for Sonata has come true with our technological partner Nelito. I highly recommend FinCraft Core Microfinance platform and especially integrations with a number of third party services."
"Nelito has successfully deployed the Online Reporting and Management Information System (ORMIS), which has streamlined the reporting process and their analysis. Its team is responsive, provided satisfactory support and has sound expertise to deliver time sensitive & critical projects. Exemplary team work."
"We are happy to use FinCraft Data Archival & Retrieval solution from Nelito Systems; it has given huge ROI in terms of saving revenue by retiring legacy applications. We get all desired reports in a timely manner from the solution."
"Nelito is known for its exemplary services to the users at all times. Your team provides excellent service and they are pro-active in providing solutions."
"On the whole a professional and capable and competent team. Providing solutions adapted to clientele updated on technology front."
"Proactive & professionally supportive, technically skilled team."
"Fincraft CBS software & Doorstep Banking Solution helps our society’s functionality towards digitalization & paperless working. It reduces our manpower requirement and workload, also gives us fast reporting for our institution as and when required."
Exemplary relationship set by Nelito’s PCS team which helps project to grow vertically. We have always been very impressed with the quality of service we have received from Nelito. They are reliable efficient professional and above all truthful. This alone sets them out from much of their competition.
"E-district Manipur project was undertaken and successfully implemented by Nelito in a record time. The online services offered under this project has made a marked difference in the quality of life of the citizens and is taking the state towards a digital Manipur."
"On 20th of November 2016 our bank data was migrated to FinCraft and we have completed one year successfully in FinCraft. So we thank all the team members of both IFTAS and Nelito for your great co-operation in this success. We expect more & more co-operation in implementing new technologies in banking sector from your side in future."
"My bank is working with Nelito from the last about 9 Years and the services provided by the company may prolong our association."
"The Bank is associated with M/S Nelito since 2002. M/S Nelito Systems Ltd has been our CBS vendor since 2009. The Products, quality of service offered by them are excellent. They have a very good support team and are trained enough for handling any type of situation."
"We appreciate your local team who continuously supported & assisted our team to meet the goal."
"Knowledge and service provided to the bank is beyond expectation. And we would definitely engage and recommend solution to others."
"As Vendor strict adherence to process & procedures. Risk Mitigates in Place. Flexible to customer requirements."
"Bank has implemented CBS of Nelito Ltd in the year 2008-09 in phase manner. Also integrated RTGS/NEFT, CTS, MMS etc. which help us in smooth automation of banking operation."
"Experience during development of Rating Engine Module has been good in the context of commitment to meet timelines & lot of hard work has been put by Nelito's team."
"Everything was successfully implemented and tested. The implementation was professionally done in a very efficient and cooperative manner. Migration was very smooth."
"Nelito and its team has always been supportive and efficient in achieving the tasks set up by the Dept. Apps developed by the software engineers for the Public Health Dept. have proved to be excellent among the top competitors and have been acclaimed for its effective service delivery to the end user at the grass root level which is the foremost object of any Govt. organization. Many thanks for the sincere efforts."
"We appreciate Nelito team who were always on time and responsive to our needs and changing ideas. They worked efficiently from the project inception to its completion in a timely and professional manner. Their understanding of this space has been invaluable to the success and launch of 'PMAY CLSS' app."