Displaying items by tag: Microfinance
Financial activities today are not as they used to be before, amongst many reasons one of the biggest and crucial component is emergency of the so called financial technology or as famously known as Fintech.
Modern technology is all about efficiency and speed; it is about ensuring face-to-face communication, connecting you to your healthcare provider and empowering you by giving you more access and control to the kind of care you get as well as service you receive.
Financial technology is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance
The advent of smart analytics allows financial services companies to mine the wealth of consumer data to understand and service customers better. Technology has also helped organizations develop innovative financial services. The development of better payment systems is a key challenge for organizations.
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:-
- Agent banking
- Apex body
- Community Financial Group
In a competitive setup, by definition, many firms contend for a limited market share. In the financial sector, in particular, competition greatly affects consumers’ wealth and financial soundness of banks (Bikker and Bos, 2005). The competition also affects the quality and diversity of products and productive efficiency of financial institutions (Claessens and Laeven, 2005). In the globalized microfinance industry, where competition has become increasingly severe, especially among the MFIs in Tanzania and East Africa at large.