AccuCred Delivers New Release Of MicroBanker
New York, NY. February 8, 2011. AccuCred, a company that is in discussions with regulatory authorities in several developing countries in Asia and Africa to develop national credit bureaus for the microfinance industry, released a new version of its bank account management software, MicroBanker. The software, first launched in 2009 as a credit reporting and data management tool for microfinance institutions (MFIs), is a web-based application designed to operate within limited technology infrastructures and now includes several critical updates such as business intelligence reporting tools & borrower risk score integration to improve portfolio and risk management.
“The continuous development of our technology is a part of AccuCred’s commitment to the needs of the microfinance industry”, says CEO Mir Shafi. The factors used in evaluating microcredit borrowers’ credit-worthiness are distinctly different from those in traditional lending. Yet, the two core objectives of lenders: determining which variables contribute to applicant credit-worthiness and keeping overall lending costs down, still applies in microfinance. AccuCred offers a portfolio of credit data collection and reporting services designed to minimize borrower over-indebtedness and cross-borrowing in the microcredit sector while reducing due diligence and administration costs incurred by the lenders. In addition to capacity building, a basic requirement is to provide software services to the lenders and capture borrower loan and deposit data in electronic format.
MicroBanker is easily networkable but does not require the MFIs to manage any servers, retain specialized staff, or purchase high-end equipment. Loan officers working in rural areas of developing countries where there is often limited or no electricity and the lack of a constant internet connection can enter borrower data on low-end machines and the information automatically uploads to all branches in the lender’s network as soon as a connection becomes available.
AccuCred is a financial technology services company based in Delaware, USA. The company develops robust credit reporting infrastructures for apex regulatory institutions and micro-lenders. AccuCred’s seasoned technology experts have decades of combined extensive experience in the major international financial sectors. Technology and delivery solutions are customized to benefit the needs of the institutions in the specific country. AccuCred’s services help microfinance institutions reduce operating costs and loan approval times, improve asset quality and classification, and grow their customer base. Apex and regulatory institutions benefit from AccuCred’s ability to enhance market oversight.
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