Increased operational scope & sustainability



This CLIENT is registered as MFI NGO and offers micro loans and financial opportunities to vulnerable social layers and SME businesses, with accent on female population and members of socially excluded and marginalized groups. In the years of excellence the CLIENT has received numerous acknowledgements of successful work accomplishments, some of which are listed in addition:

  • Pro-Poor Innovation Award, by CGAP (The Consultative Group to Assist the Poorest).

  • Award for innovative projects by the Microfinance Centre, as a result of access to the innovative use of group lending methodology for socially excluded groups in society.

  • Finalist of Microfinance Good Practices Europe Award in organization of Fondazione Giordano Dell’Amore and European Microfinance Network, for the successful operations of the Roma population.

  • Winner of Microfinance Good Practices Europe Award, sponsored by Giordano Dell’Amore Foundation in cooperation with European Microfinance Network, as recognition of the contribution of the CLIENT in applying best practices in the field of micro crediting on European level and the introduction of innovative and useful components for economic and social development of the customer.


At the beginning, the CLIENT used software for loan tracking, which proved to have a lot of limitations in functionalities and reporting. Business processes had to be adopted with software possibilities, which eventually became difficult to be managed. In addition, as a temporary solution an internal Excel tools had to be developed to overcome software limitations. At the same time, additional software for accounting purposes was in use to comply with local legislation. ASPEKT faced the challenge of having to redefine entire software workflow so that the new solution encompasses real flow of activities as in practice.

Some of the crucial problems to overcome with the new solution were: multi-entry data on several locations, mitigation of possibilities for human errors, keeping hard copies of various forms and documents, systems reconciliation and others. In the Aspekt Microfinance Software, the CLIENT recognized the opportunity to improve internal consistency of processes and integrate front office activities with the accounting, all in one place.


ASPEKT used the extensive knowledge in microfinance business models and software development competence to align business operations with solution technology and integrate all parallel applications into one system. Getting familiar with the problems and difficulties the CLIENT had, ASPEKT offered the Aspekt Microfinance Software, which is sufficiently flexible and dynamic to respond to CLIENT’s demands for: dynamic product policy, flexible payment system, flexible approval procedures, flexible reporting requirements, dynamic data collection and many more.

  • The manual filling and physical archive of submitted applications is replaced with complete Application Processing System for submitted loan applications and fully integrated processes from product definition, application processing and analyses, scoring system to loan approval.

  • The manual definition of loan products and their conditions is replaced with Dynamic Product Policy integrated in the system, so the CLIENT can adapt loan product definition to market trends and borrower’s needs without any intervention from ASPEKT.

  • The CLIENT received flexible financial reporting with reports completely adapted to the requirements and standards of the institutions reported at and with opportunities for further upgrade from user interface.

  • The limited opportunities for adapting the plan for repayment of loans is replaced with a flexible system for repayment of loans offering range of options on the product policy definition to support changes of the repayment plan, according to individual borrower’s possibilities

  • The CLIENT received a system with flexible Application Processing and Approval System, where the hierarchy of approving applications and the conditions on which the approval is done is completely adaptable from user side, by which user control is enhanced.

Besides improving current operations, Aspekt Microfinance Software consisted value adding features and modules for Credit Scoring and Social Performance Management, which are crucial parts of the modern microfinance trends for flexible calculations of creditworthiness and measuring impact on society and mission fulfillment:

  • Previously, the CLIENT had no specific tool for automated and objective measurement of the creditworthiness of each borrower. The analysis consisted of a subjective assessment of the credit officer. The new solution has integrated and automated Credit Scoring features that allow creation of Scoring Cards with custom parameters, types of questions, ranked on the basis of the specific opinions, completely independent of ASPEKT and directly from user side. The decisions are based on Credit Scoring measurable parameters, with possibility for statistical analyses of current and past figures.

  • The CLIENT didn’t have a tool for measuring social performance and level of achievement of organizational mission. Based on industry standards and the specific measurement indicators of the CLIENT, ASPEKT managed to implement a sophisticated system by which achievement of social objectives can be precisely measured and analyzed with specific parameters.


The adaptation and implementation of Aspekt Microfinance Software for the CLIENT represented a milestone in company’s institutional development. The sophisticated and advanced functionalities of the solution effectively influenced:

  • Lowering down-time for performing activities and speeding up the process of data collection and entry

  • Transparency of the results presented to investors, about operational performance and how the level of poverty changes through loan cycles

  • 100% automation of manual operations and increasing employee’s efficiency, data quality and eliminating possibilities for human errors

  • 360° view through the solution

  • Successful migration of complex financial data

  • Fixing functionality gaps from past systems and improvements with sophisticated functionalities, advanced functions and complex calculations, which the previous systems didn’t contain

  • High independent rate of possibilities for adjustments due to dynamic and flexible nature of the solution

  • Reductions in administrative work per branches by 70%, allowing personnel spend more time on field performing clients monitoring

  • Significantly speeding up time for reporting and increasing quality of decision-making processes is way beyond management expectations.

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