The experience of the management team of ASPEKT in the financial industry is what leaded the company into researching this complex market and finding a niche segment that experienced lack of suitable technological solution to resolve operational issues.
Tracing the microfinance niche, ASPEKT started analyzing the global potential of the market into identifying big parts of Asia, Africa and partially Europe as convenient for introducing microfinance software.
This analysis guided ASPEKT into declaring crucial gaps existence between the supply of microfinance software on the global market and the demand for bigger flexibility, scalability and adaptability of the microfinance institutions.
The gaps that ASPEKT encountered were:
Lack of structured system that will help MFIs transform into influential institutions
Use of off-the-shelf microfinance software which is not scalable
Use of small startup decentralized systems or core banking software not specialized in microfinance
Inability of the software vendors to follow the institutional growth
Being aware of the gaps between the real microfinance needs and current global software offering, ASPEKT decided to create a solution targeted specifically for microfinance niche.