We are very happy and pleased to successfully release another major version of our awarding Amala Core Banking system for FinTech, especially in financial inclusion of the 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:-
To ensure our client automatically comply with new Microfinance Act 2018 and regulations 2019, we have added important changes and made mandatory for the purpose of self-comply; among others are below:-
- We have enabled client/member classification, as required by regulator BoT/TCDC.
- We have added more fields and made them mandatory on client form e.g. marital status, earlier it was just optional to add any field you would want, as required by regulator BoT/TCDC.
- We have enforced the Collateral and Loan Purpose to be mandatory, as required by regulator BoT/TCDC..
- We have modified the Provision Criteria to be as required by regulator BoT/TCDC
- We have improved a lot of reports to ensure you benefit from your investment on our system, we urge to utilize them accordingly.
- Etc… etc.
The major key point for any banking application is security. Banking application needs to ensure they real take care of security standards. In this release, We have improved tools to protect our users from various harmful actions while using the application. This includes the updated tips to protect users. This area, we only ensure we have improvement for each release because of its criticality.
Together with new features added, bug fixes and some enhancements are done to improve performance and ease the business processes.