History

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.

What
clients say
  • "It's an outstanding system. Having a full overview and control over the branch operations in due time is a huge advantage when corrective actions should take place. Before ASPEKT, it was difficult and lot of effort was invested, to analyze the performance and make conclusions that will lead to improving business processes." - Credit Director
  • "Before ASPEKT, I had to remember all loan conditions, criteria and other rules and I was continuously under pressure not to make any errors. I felt a huge relief when ASPEKT system was introduced, everything is now predefined: amount limitations, interest rates, provisions, etc., even the loan contract templates are automatically generated so no additional double-checking is needed." - Loan Officer
  • "With Aspekt Microfinance Software, we have complete control over the corporate portfolio. Our active portfolio is monitored accurately and we are able to make future assumptions based on historic data, making precise risk assessment." - Risk Manager
  • "Aspekt Microfinance Software helped me better manage my time. When I start in the morning, I can make a quick review for: status of open loan applications, loan disbursements, clients with payments due for the day, new loan in arrears, portfolio outstanding, etc. Everything can be found from one location, so I can efficiently prioritize daily tasks and coordinate other activities with my colleagues." - Loan Officer
  • "Administering one system, from one central location saved time, improved the control and security mechanisms of our IT Department. I’m more than glad to recommend this highly flexible solution to other companies." - System Administrator
  • "With the integrated functionalities and controlling procedures in Aspekt Microfinance Software, we could easily locate a breach of procedures and prevent frauds. The solution is adjusted to detect errors and inappropriate transactions." - Risk Manager
  • "Before ASPEKT, I couldn't monitor neither review my performance. I waited for my Branch Manager to receive reports from head office, to find out about exact number and amount of outstanding loans, PAR and delinquency, drop-outs etc. Now with Aspekt Microfinance Software, I can even predict my performance in near future." - Loan Officer
  • "Before ASPEKT, the field audit in a single branch could last for 4-5 days. Now, with ASPEKT I can do most of the preparation work in my office and be more efficient on the field." - Internal Audit
  • "I can't imagine that all client's information and records are at one place. Before ASPEKT it was extremely difficult to check the credit history of returned clients, and we could make mistakes and approve loans even to rejected clients. With ASPEKT we can also review the repayment history of clients coming from other branches." - Loan Officer
  • "Before ASPEKT, we didn't have reliable information to assess performance. We were overburden with forms and excel spreadsheets and no information on how other branches perform." - Branch Manager
  • "With Aspekt Microfinance Software we can efficiently and accurately control all cash transactions. Borrower's cash receipts are printed from the system only when payment transactions are entered by Loan Officers. This prevents from handing over the cash outside of branches." - Internal Audit
  • "I'm happy now that Loan Officers I'm supervising can spend much more time on a field with clients. Before ASPEKT, the manual administrative work occupied so much of their time so that they were unable to recruit new borrowers and reach the projected growth." - Branch Manager
  • "Once ASPEKT was introduced, our efficiency increased, allowing our MFI to grow by 50% with current human resources. Aspekt Microfinance Software contributes on replacing the manual and routine tasks, so that staff can spent more time on innovations and development." - CEO
  • "ASPEKT is not just a simple loan tracking software. I used to travel in every branch once per month to monitor and appraise each branch performance. Now, I can monitor the progress and identify weaknesses from distance." - Credit Director
  • "With this vendor, we didn’t receive just a system sophisticated to be administered independently from the vendor, we also got entire team that supports us in any situation and is more than happy to help us continuously improve our operations." - System Administrator
  • "Aspekt Microfinance Software as one integrated solution offers full coverage of MFI's business process. It's an excellent management tool that improves decision-making processes. The flexibility and adoptability perfectly match the dynamic environment in which our MFI operates." - CEO
  • "With the centralization of the data we got smart system that streamlines all financial activities we perform on a daily basis. Payment transactions are automatically posted in general ledger and our department is able to perform complex financial analysis, using customized financial reports." - Accounting Officer
  • "Aspekt Microfinance Software is very flexible and managed to fully incorporate our internal risk management policies and procedures. I can generate customized reports on clients and loan portfolio and closely monitor and analyze the credit risk before and after disbursements. The information from the system is the baseline for any improvements on risk policies and procedures I have recommended." - Risk Manager