ASPEKT was founded in 1992 as a software development company. In 2007 new management came on board and the company has gone through a transformation which led to strategic determination for ASPEKT to focus on developing superb solutions for financial markets.
The company started positioning itself as an outstanding provider of software solutions for financial institutions and concentrated on specific niche markets based on the offering. The first product that established ASPEKT as a trusted capable partner is Aspekt Microfinance Software, which started increasing clients’ base rapidly.
The banking sector was already established, but there was a whole new market that focused on micro lending that started expanding in the developing countries. Although similar, these two sectors were still very different in many aspects that demanded a different approach in building solutions that would address these specific needs. ASPEKT focused its knowledge on building a solution that will address the specific needs of the microfinance institutions.
The development of the solution followed after a thorough research in the industry specifics, legislative conditions, specifics of the business processes, which was a necessary learning curve for the entire ASPEKT team. The whole staff underwent series of specific industry trainings to equip with adequate knowledge of the microfinance industry, acquired certificates in specific financial topics, got educated in Basel II Risk Compliance System, passed courses for learning IFRS (international financial reporting standards) and started regularly visiting industry specific conferences, summits and roadshows.
This participation in industry-specific events was useful for learning trends and growing needs of microfinance institutions in continuity and helped ASPEKT bring new features early to market, before the competition.
Being able to participate and make a big difference in the society, helping vulnerable categories of people in everyday lives is what differentiates this solution from the competition.
Aspekt Microfinance Software differs from all other core banking solutions adapted to microfinance and microfinance solutions that only partially address real microfinance needs. It possesses characteristics of banking solution, but in a way that addresses microfinance requests for every segment.
Several years ago ASPEKT released an upgraded version and the entire platform architecture was migrated to a more sophisticated infrastructure for easier and more flexible administration of the solution and in order to bring all clients faster to market.
Aspekt Microfinance Software has been pioneer in implementing Social Impact and Performance Management as integral part of the software and offered the possibility of microfinance institutions to measure their social performance and easily translate their social missions in practice.
Aspekt Microfinance Software is present on the European and Central Asian market and the company has a strategic orientation, in the next period, to increase existing market share and expand its presence further on new markets. ASPEKT has clear vision for the future development, as it will continue keeping pace with the industry developments to support its clients’ growth and ensure success.