Financial management has often been regarded as an elite sector of banking, however, as financial institutions step into the 21st century by focusing on implementing new-age technologies, it sometimes seems that delivering a superior experience to high net worth investors has taken a back seat. Bridging the gap
The financial sector for quite a number of days had been going through the challenge in its operations and management. the reason being many of its issues especially by the Microfinance and the micro-credit Institutions operating manually. These institutions together with their clients faced a problem of losing accurate data at some point. This brought about a bad image of mistrust in these small scale financial institutions despite the fact that they play a huge role in dealing with economic development.
The way forward for these Microfinance institutions came to be embracing and prioritizing customer experience by employing advanced digital technologies (management softwares) and seeking more innovative approaches to manage their institutions and the sector at large hence satisfaction to their clients.
With aid of the Laws of the Land, the Sector at large decided to implement amendments and enactment of regulatory tools, virue Sections 8 and 9 of The Microfinance Act, No. 10 of 2018
Customers expect accurate reports to help them make informed investment decisions. The content of these reports requires data collation from the systems and visual representation through charts and graphs for tangible and applicable insights.
Microfinance Institutions must commit to making these types of reports available, based on quality and and accuracy. Further, these important reports should be delivered on a regular basis, beyond in response to on-demand requests.
Way forward
- Aim for more than customer satisfaction
Microfinance Institutions should rely on softare systems which enable them to deliver accurate data, allowing customers to access insights when and wherever they prefer. This does not only ease their operations by having what it takes to have in terms of accuracy but it makes them trustworth and reliable to their customers by providing to them accurate data and information whenever needed and remove the tension of quarries that may arise due to possible errors with the clients informations data and reports that are now extracted via the digital reliable system.
Amala App Suite as a premium platform that is dedicated into solving the management challenges of the Microfinance Institutions and SACCOS in Tanzania. Our system gives your business the confidence to running the Microfinance sector.
With Amala App Suite, you can manage loans, shares and savings at the desirable rate that explores or realize the benefit of the Microfinance Institutions upon their operations. Our team is dedicated and ambitious to support our customers and make your business great and meet your expectations.
