One of the most important strategic initiatives of COBIS is to create financial inclusion for everyone, including the poor, because it spurs economic development, strengthens communities, and opens a bridge to the future for financial services. Microfinance includes a broad range of financial services, from very small savings accounts to microcredit products.
Key features of our microfinance solution include:
- Ability to create any kind of loan structure, considering minimum loan amounts, payment terms, regulations, and rates/fees that will cover costs and risks.
- With savings products, there is a simple process for creating fee structures, minimum balances, interest rates and more.
- With our mobile products designed for bank employees, it is possible to leave the confines of the branch location or call centers to places such as rural areas with little technological infrastructure, and then open savings accounts or take credit applications while offline.
There are many possibilities and ideas when considering a microfinance strategy, and one of the key factors is having the right product capability. Whatever your financial institution has in mind, COBIS can help to make your microfinance vision a reality.