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Overview

FinCraft™ Core Micro Finance solution is a tested and proven solution built using the latest technology framework and includes an Android-based mobility solution tailor-made to suit Micro Finance operations on-the-field.

It is derived from Nelito's Core Banking platform (FinCraft) – a highly successful banking platform.

Features

Nelito's FinCraft™ Micro Finance is designed for ease of operations for operating environment and conditions in which Micro-Finance companies operate.

  • 1Design - The complete solution is modular and layered in design – architecturally as well as functionally. This helps us customize the solution easily and faster for the benefit of our clients.
  • 2Straight Through Processing (STP) - The concepts of Straight Through Processing (STP), Unique Customer Identification File (CIF) and Service Oriented Architecture (SOA) are deeply ingrained in the solution which help achieve desired flexibility and scalability to support operational growth.
  • 3Workflows - The workflows and business rules engine provide a great opportunity for operational streamlining and automation in existing processes.
  • 4Integrated Financial Accounting  - Solution is equipped with integrated financial accounting module. Dynamic GL configuration (chart of Account) is provided to configure accounts as per business needs.
  • 5Target Customers Configurator - Targets can be set from top level i.e. from Zone/Region level to individual employee level.
  • 6Integration with Credit Rating Companies Solution  - Solution has been integrated with Credit Bureau Rating Solution for quick processing to get their rating helping to take right decision to consider that target customer based on the number of companies from where the existing loans are taken by the target customer etc.
  • 7Integration with Insurance Companies Solution  - Integration with Insurance Company Solution is carried out to update the customers in the life insurance policy under which the customer's life is to be covered before disbursement of loan and also to extend the coverage/renew the cases for cases which are for more than one-year duration.
  • 8Integration with Digital Stamping (Optional)  - To stamp the digital signature of customer on documents like application form with terms & conditions.
     
     
     
  • 9 Admin Console Module  - This is core functionality of the solution. Micro Finance Company can define their own organization structure and have the flexibility to map their business units as per required hierarchy e.g. Head Office – Zonal/ Regional Office – Area Office – Branch Office – JLG Centre – JLG Group – Customer.
    • Users Roles
    • User Management
    • Access Management
    • Workflow Engine Configurator
    • Calendar Definition
  • 10On-the field operations - The end-to-end field operations processes have been covered in Android based Smart Phone Application. They include
    • Customer on boarding (including eKYC & Regular KYC)
    • Group formation (Compulsory Group Training - CGT)
    • Centre formation & Centre Recognition Test (CRT)
    • Loan proposal creation
    • Loan proposal approvals and appraisal
    • Guarantor Details Entry (for Individual Loans)
    • Loan Disbursement Schedule Creation
    • Disbursement of Loan Amount
    • Collection of EMI
    • Collection of Center Advance
    • PDC Management using Mandate Management
    • Progress out of Poverty Index

Process Flow

Group/Centre Formation

  • Field Visit
  • Motivation
  • Pre-Group Formation
  • Compulsory group training(CGT)
  • Pre-Group Test
  • Group Reconciliation Test (GRT)
  • Center Formation

Loan Process

  • Centre Meeting
  • Loan Demand
  • Group/Center recommendation
  • Verifying by field Assistant
  • Approval of loan by branch manager / concerned authority

Loan Disbursement & Repayment

  • Loan Disbursement
  • Field Assistant visits group for loan supervision and monitoring
  • Approaching to the borrowers
  • Borrowers repaying the installment
  • Branch manager verifying the installment collection

Other Features

  • Adherence to Regulatory Regulations.
  • Improve Straight Through Processing.
  • Regulatory Reporting & MIS Reporting.
  • Mobile Banking – An Android based Mobile Application is fully developed to cater the anytime anywhere banking requirement. This application can be integrated with the Core Micro Finance solution (CMFS) according to the requirement of the client.
  • Compatibility for Multiple Partners – FinCraft Core Micro Finance solution is flexible and configurable. It can be enhanced to use across all partners of the client.
  • Refined integrated mobility solution (using Android based Smart Phones/Tablets).

Advantages of FinCraft Core Microfinance Solutions

Our FinCraft Microfinance Solution implementation has provided following advantages to our customers

  • Reduced Process Time  - The Customer application process time has been reduced from 3 days to 3 hours due to integration of the Solution with various agencies such as Credit Bureau, Insurance etc.
  • Real Time Accounting  - The real time accounting entries has improved the Cash Management.
  • Risks Mitigation  - Loans related risks have been mitigated due to instant Insurance operationalization.
  • Unified Solution  - a. One Solution for various Loans schemes saves efforts required for the Reconciliation.
  • Improved Operational Efficiency  - Improved Operational efficiency due to integrated Solution.

Challenges Faced by MicroFinance Institutions

  • Cost of Outreach

  • Lack of Scalability

  • Diverse Business Models

  • Geographic Factors

  • Requlatory Compliance & Reporting

  • High Per Transaction Cost

  • KYC and Security Challenges

  • Start New Offers Seamlessly

How Fincraft MFI Solution Can Help?

Cost Reduction

Makes Servicing Low Value Loans Viable

100% Mobile Based 24 X 7 Access

Increase Reach of Branch-less Operations Real Time

Funder & Fund Management

Customized Modules for Funder & Fund Management

Increase Profitability

Seamless Process to Foster Collaboration Enhance Staff Productivity

Related

Case Studies

  • Implementation of Microfinance solution in Sonata Finance Pvt. Ltd., Lucknow

Solution Availability

Our solutions are available globally. Please visit our country pages for more information

CLIENT SPEAK

  • The Meticulousness of efforts to ensure customer delight by each of the team member during the course of the project is appreciable. - Data Archival Project

    R. Ganesh (Senior Manager)

    Indian Overseas Bank
  • Overall we are happy with the services provided by Nelito. The implementation team is sensitive to our support requirements and does a good job.

    Vinayak Khadye (Chief Digital Officer)

    Finanzmart Services Pvt Ltd
  • We are extremely thankful to the whole team who have devotedly committed and created this excellent database. Much of our time was wasted in data retrieval from i link where we were facing lots of issues.

    You have given us an awesome product which is superior to our Finacle itself in its display capabilities. The great idea of taking pdf/word/excel option is simply superb. Merging the party code and Finacle CIF and account numbers are another feather in the cap.

    N Sampath Kumar (Branch Manager)

    Corporation Bank
  • 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.

    Prateek P Katyal (CTO)

    WheelsEMI Pvt. Ltd
  • "We are extremely pleased with the kind of support extended by you and your team for our year end work. Although whole bunch of people worked for making the support seamless from your end, my special thanks to following resources. Anurag, Arpit, Arvind, Pranit, Suraj, Udgran, Nilesh, Leena and Udgrand. Also, thanks to all others who have supported us directly or indirectly at your end."

    Ananda Padebettu (IT Manager)

    The Nav Jeevan Co-op Bank Ltd.
  • "Nelito has Good knowledge of industry. Good customer orientation. They were Flexible and Open to new ideas and suggestions."

    Mr. Ratheesh K. Bharathan | Exec. Vice President & Co- Founder

    WheelsEMI PVT. LTD.
  • "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."

    Chairman

    The Nainital Bank Ltd.
  • "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."

    IT Head

    Sonata Finance Pvt. Ltd.
  • "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."

    Deputy General Manager (IT Department)

    National Housing Bank
  • CBS

    "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."

    Assistant General Manager (CBS)

    United Bank of India
  • CBS

    "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."

    Chief Manager (SWIFT)

    Indian Overseas Bank
  • CBS

    "On the whole a professional and capable and competent team. Providing solutions adapted to clientele updated on technology front."

    Principal secretary Department of Labour

    Govt. of Sikkim
  • Custom Application Development testimonial

    "Proactive & professionally supportive, technically skilled team."

    General Manager

    Federal Bank
  • CBS

    "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."

    Chairman

    Mahavir credit coop society
  • CBS

    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.

    Project Director

    TCS
  • CBS

    "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."

    Additional Director (IT)

    Govt. of Manipur
  • DGM

    "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."

    M V Kumar | CEO

    Kempegowda Bank
  • DGM

    "My bank is working with Nelito from the last about 9 Years and the services provided by the company may prolong our association."

    Sikander Gupta | CEO

    The Jammu Central Co-op Bank Ltd.
  • DGM

    "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."

    D K Kandpal | Vice President (IT)

    Nainital Bank
  • DGM

    "We appreciate your local team who continuously supported & assisted our team to meet the goal."

    Nagendra Nath Sinha | Principal Secretary IT

    Government of Jharkhand, Ranchi
  • DGM

    "Knowledge and service provided to the bank is beyond expectation. And we would definitely engage and recommend solution to others."

    Rachelle F. Rivas | IT Project Manager (Senior Manager)

    Bank of the Philippine Islands (BPI)
  • DGM

    "As Vendor strict adherence to process & procedures. Risk Mitigates in Place. Flexible to customer requirements."

    Dinesh Negi | VP (Clg)

    DCB Bank Ltd
  • DGM

    "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."

    K.T. Wadia | CEO

    The Sutex Co-op Bank Ltd
  • DGM

    "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."

    Ashutosh Satsangi | VP-Operations

    SMERA
  • DGM

    "Everything was successfully implemented and tested. The implementation was professionally done in a very efficient and cooperative manner. Migration was very smooth."

    Frithjof Ramb | Vice President

    SBI- Frankfurt, Germany
  • DGM

    "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."

    Sanjay Kamlakar | Under Secretary to GoM

    Government of Maharashtra
  • DGM

    "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."

    Susanta K. Padhi | DGM

    National Housing Bank
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