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Joint Seminar with Stromme Foundation on "Technology Effectiveness for MFIs"

Southtech Ascend Banking Presented in "Moving Forward with Innovation" Conference in Manila

Southtech and Cambodian Microfinance Association Hold Seminar

Development Initiative for Social Advancement (DISA) and Southtech Sign Contract For Ascend Banking (MFV)

Sajida Foundation and Southtech Sign Contract For Ascend Banking (MFV)

Southtech and BRAC signed an agreement to automate 1,000 new branches with Ascend banking system (Version 5)

CRISL Rates Southtech

Southtech Celebrates Achievement of CMMI Level-3 Appraisal

Southtech Ascend Banking System Version 5 Released

Southtech assessed at CMMI Level 3 Quality Standard

Southtech Wins International Bid

Eastern Bank Limited to Use Southtech SCALED

Southeast Bank Chooses Southtech HR system

Southeast Bank Places Work Order for Southtech Shanchya Patra Management System

Southtech Ascend Banking in Afghanistan

Save the Children - Denmark Sweden Signs Contract with Southtech

Central Hospital Limited to Install Southtech PatientCare

BRAC Afghanistan Bank to Install Southtech Ascend Banking

Ascend.NET Gets Independent Evaluation

Southtech signs an agreement with a London-based software product company

Southtech MBSŪ has been renamed as Southtech Ascend BankingŪ

Southtech Limited Continues Registration to ISO 9001:2000

Southtech SCALED to be installed in Dhaka Bank

BDFCL to install Southtech MBS

Southtech implements Government Bond Management module in a foreign bank

Microsoft Bangladesh and Southtech Limited jointly organize a seminar

Southtech Progressive Stockbroker® Upgraded to interface with CDBL

Southtech Limited Attains Gold Certified Partner Status
In Microsoft Partner Program

Family World automates using Southtech EasyPOS®

Southtech signs off with Coopers for the implementation of Southtech EasyPOSŪ

Southtech sponsors 7th International Conference on Computer and Information Technology (ICCIT)

Southtech Limited Continues Registration to ISO 9001:2000

A&W Restaurant goes live with Southtech DiningPlus®, a fully integrated touch-screen restaurant management software

Southtech automates Institute of Child Health & Shishu Hospital with Southtech PatientCare® Software

Southtech to help Sonali Bank and BASIC Bank in SWIFTNet FIN Migration

Southtech to automate two branches of Agrani Bank with Southtech MBS®

Southtech signs contract with PRICECLUB

Southtech becomes ISO 9001:2000 certified

Southtech holds workshop at BIBM

Automation works of 1,131 BRAC offices completed

  


Dhaka, March 28, 2010

Press Release

Joint Seminar with Stromme Foundation on "Technology Effectiveness for MFIs"

Dhaka, 28 March 2010: Southtech Limited and Stromme Foundation, a Norway based International Donor (http://www.stromme.org) jointly organised a seminar at Spectra Convention Centre, Gulshan, Dhaka to promote technology options for the 7 Partner Organisations (MFIs) of Stromme Foundation in Bangladesh.

Southtech Ascend Banking (MFV) has been rated by CGAP as one of the most innovative solutions in the microfinance industry. Built with cutting-edge Microsoft Technology, Southtech Ascend Banking (MFV) is a sophisticated solution that automates most processes of micro credit and savings starting from member admission to member retirement, including unique insurance and incentives modules for microfinance institutions (MFIs). It allows an MFI to efficiently manage all loan and savings related activities and significantly reduces its administrative and operational costs. The web-based Head Office Module is capable of consolidating branch data and can produce all regulatory reporting prescribed by PKSF, in addition to CGAP and SEEP recommended reporting.

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 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
  • Loan application and authorization by user-definable committees
  • High-end parameterization allowing the creation of all types of user definable loans and deposit products
  • PDA interface – reduces paper wastage, workload, and improves reporting
  • Web based HO Module including consolidated reporting for MIS/FIS and PKSF/SEEP/CGAP recommended reporting
  • 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 Ascend Banking, contact marketing@southtechlimited.com

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