Want to partner with us? Let's get started now!

Amala Core Banking 1.0 – Release Notes

We are happy and pleased to successfully release our first major version of our awarding Amala Core Banking system for FinTech on November 2018 that will serve the financial inclusion of unbanked and underbanked community in Tanzania, a platform based on Apache Fineract and Mifos.

In this release of Amala we have shipped in the following key new features among others:-

Data Importation Tool: Now the importation of data has been simplified.

  • Amala platform is now integrated with a Data Import Tool that you can upload loans, savings, transactions etc in excel sheet.

Monitoring: We have increased the level of monitoring to the systems through:-

  • Now admin can put restrictions for backdate transaction.
  • The value of the collateral is compared with the loan requested to see if it can guarantee the loan.

Loan Product Growth: We have increased more flexibility on creating more different loan products by:-

  • Whole Term feature for interest accumulation (Interest to be calculated in a whole loan term).
  • Now you can create loans that are using Straight Interest Method.
  • Now you can do multiple topoup.

Accounting: As it is a very crucial part in any organization, we always make it one of our priority, we have added following things to support your business.

  • Budget Management.
  • Tracking of payment types for transactions.
  • Notes field for comment during deposit or withdraw in Saving Account.
  • Cash Book

Reports: Value of system come from reports it give to management, always we will ensure to enhance this critical business area:-

  • Cash Flow.
  • Member Statements.
  • Share Reports.
  • Member Statistic Reports.

User Friendly : The system has been improved to be more user friendly.

  • Modified user interface.
  • Dashboards upon login.
  • Direct Application for Loans, Savings and Shares.
  • Total number of active loans on the dashboard and access to the list of them.

KYC : Yes, we know this part is very important on making a decision on whether to give out the loan or not, we have added something for you.

  • Now you can add family member information of a particular client/member to increase the assessment of their eligibility to get a loan.

About the Author

Leave a Reply

You may also like these