Mobile Banking And Loan Performer
With LOAN PERFORMER version 8 Microfinance Institutions and SACCOS are able to offer their clients/members a new service: Mobile Banking. The client/member can subscribe to certain mobile banking services and the Microfinance Institution can charge the client/member for opening a Mobile Banking account and for receiving certain message types. The charges are taken to a certain savings account that can be defined for this purpose and the Microfinance Institution can run reports on all messages received and sent.
For instance, clients will be able to check their savings balances, find out when their time deposit falls due, what interest it generates and make transfers from one account to another within the same institution. The Microfinance Institutions will be able to inform their loanees say 2 days before the due date that their instalment falls due in 2 days and if no payment is made, Loan Performer can automatically send the client a message that no payment was made and the client account is now falling in arrears and penalties will be incurred … All messages can be defined by the Microfinance Institution and even sent in local languages. That this will greatly reduce the number fof clients falling in arrears.
(Download the SMS Requirements (PDF File) and a Mobile Transfers Powerpoint Presentation)
Mobile Banking is made possible with LPF Mobile, a phone application that the client can use to access his or her accounts in the bank. LPF Mobile runs on most mobile phones. We provide LPF Mobile in 4 different languages but if the Microfinance Institutions require other languages, it would be easy to have this translated and recompiled. We provide a document that explains how to install LPF Mobile and you can download this by clicking here.
We encourage you to test LPF Mobile yourself. You can do that by installing the software on your phone and opening an account on our database by registering on this page! You will then receive an email giving you the details on how to test our Mobile Banking services.
Mobile Money Transfers
Crystal Clear Software Ltd has partnered with MCash, a mobile money service
provider in Uganda, to link Loan Performer to mobile money. For clients of a
microfinance institution or for members of a SACCO that use Loan Performer
8.14 or higher and that are agents of MCash, it becomes possible to top up
their mobile money balances by transferring money from the savings/current
account or to make a desposit from mobile money to the savings account. The
MFI or SACCO can now disburse a loan as mobile money to the client's phone
and the client can now repay his/her loan by transferring mobile money to the
MFI or SACCO.
We have a technical presentation on how this works. See MobileBankingPresentation.pdf (2.6 MB).
MCash is a local mobile money service provider in Uganda, but in principal
this functionality is possible with other service providers as well.
We have made a video that shows how a client of institution A can make a transfer from his/her account to a client of institution B, not using the MCash facility. This is possible provided both institutions use Loan Performer, both have internet access and both are using Mobile Banking facilities in Loan Performer. Click here to have a look at this video (download size is 27.5 MB).