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Manila, 12 March 2010: MICRA Philippines held a conference to promote innovative products, approaches and practices in microfinance. Over 200 participants representing 89 organizations (microfinance providers, government agencies, development organizations and commercial institutions) attended the event that took place at the Asian Institute of Management (AIM) Conference Center.

Southtech Ascend Banking featured as one of the most innovative solutions in the microfinance industry. Some of the innovative features that were presented included the following:

A unique “hybrid” architecture that allows an MFI or bank to have some branches run in centralized mode while others in distributed mode and still others in offline mode concurrently thus allowing MFIs and banks to reach the unbanked
Multi-currency accounting with built-in budgeting features that allows loan disbursement in one currency and repayments in multiple currencies without having to do any manual processing
Group lending in many different ways
A flexible customer database that allows a user to add new fields on the fly without programmer help
Cash denomination control and vault control with seamless accounting for the same
Features to store client pictures, signatures and barcode storage for easy client recognition
Loan application and authorization by user-definable committees
High-end parameterization allowing the creation of all types of user definable loans and deposit products
Pier-to-pier (P2P) on-demand inter-branch transactions for offline branches allowing clients to get “online” banking facilities
PDA interface – reduces paper wastage, workload, and improves reporting
Document storage facility that allows storage and review of all documents with just a few clicks
Consolidated reporting and dynamic report generation including a plug-and-play Central Bank Reporting Module
Transaction switches interface for ATM/POS (ISO 8583 compliant)
Swift branch merger/demerger with auto accounting for the same
Quick transfer of members from one branch to another with only a few clicks
Quick generic treatment of loans for disaster affected areas with just a few clicks

For more information about the conference and presentations by other solution providers, please see: http://www.micra-phil.org

For more information about Ascend Banking, contact marketing@southtechlimited.com

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