Reconciliation: disbursement, sub-transactions, loan repayments, charges
Each disbursement is paired with its sub-transactions and incoming loan repayments. The reconciliation feature also matches system confirmations, system charges and updates the overall account balance.
Having consolidated data of both outgoing and incoming transactions, as well as balances of partner banks and MMTs, FinTPm is able to present a report of the overall liquidity and financial position.
The Duplicate Detection feature allows detection of possible duplicate messages and early alerting for further investigations.
The option is configurable at each implemented business flow level: e.g. disbursements, loan repayments, confirmations and charges.
The status of disbursements is permanently updated, to reflect its current state. Each disbursement is linked to loan repayments, charges and confirmations, making it easy for operators to monitor and investigate.
Multi-country and multi-currency
FinTPm can be deployed in a multi-county setup. In can be configured to function on multiple currencies.
Reports: by type, amount, reference, customer data, distribution channel
Advanced reports allow operators to list transactions by type, by reference, by customer data, by distribution channel. These reports can be automatically generated and sent to the relevant parties.
Booking into accounting system
Each transaction is booked into the accounting system. So, aside from the in-application status update and reconciliation information, each amount is booked into accounting, creating end-to-end consistency.
Disbursement split into sub-transactions
Disbursements are split into sub-transactions is the amount exceeds a configured limit. And they are sent via the configured MMT channel in separate days.
MMT: M-PESA, MTN
Corporate to Bank
Agent or partner network
Native ISO 20022
The internal format used by FinTPm is ISO 20022
Flat files can be processed, as long as the format is structured and defined.
Proprietary formats can be processed, as long as they are structured and defined.
FinTPm provides management of loan disbursements.
FinTPm processes loan repayments, matching them with the original disbursements.
FinTPm processes charges, matching them with the original disbursements.
FinTPm processes bank statements, booking the balance into the accounting system.
FinTPm retrieves loan disbursements from MFI internal systems, converts them into the ISO 20022 internal format and prepares them to be sent to the intended distribution channel in the specific format. Guaranteed delivery.
FinTPm features interfaces for connection to banks and MMT provider services such as M-PESA Kenya and MTN Uganda.
Operational risk containment
FinTPm provides various features that contribute to the banking operational risk containment, such as: accounting reconciliation, duplicate detection, transactions filtering, competitive alerts.
Alerts or early alerts can be configured for any events: possible duplicates, exception events for monitored communication channels, standard deviation or behavioral changes (competitive alerts), late loan repayments.
All transactions are logged and can be traced back. The search capability allows easy identification of a transaction for investigation purposes.
The system is being audited and monitored to ensure best performance.
The FinTPm solution for microfinance offers flow automation and integration of various internal applications, such as accounting, human resources, loan disbursement, treasury, with external services provided by mobile money transfer providers (MMTs), banks or external networks (SWIFT, CSM).
Validation & enrichment
Disbursement management: possibility to validate, check for duplicates, split into sub-transactions is amount exceeds the configured limit.
FinTPm by design ensures persistent end-to-end transactions. It features multi-threading capabilities and error detection and recovery mechanism.
This feature is useful to admins or operators for investigation purposes.
It is a tool designed to make the testing process more objective. Its main purpose is to assist and help people involved in the test and validation process, providing fast and complete checks of the application:
– after the initial installation in the customer’s environment;
– after configuration changes;
– after the installation of major releases or patches, also known as regression testing;
– after extending the product with new features.
It is built as a collection of modules that can be used on their own to test certain business or technical functionalities. The automated testing is performed:
– in different deployment architectures;
– for different versions of prerequisites;
– for different technical interfaces with other applications;
– for custom configurations.
The FinTPm application for microfinance institutions achieves integration of internal applications with mobile payment operator(s), banks and other external entities. It provides support for loan management applications, loan disbursement and repayments. It integrates mobile and bank payments, and as such provides working capital management. Multi-MMT and multi country functionality is supported.
FinTPm connects to internal loan management systems and customer databases and takes data ready to be sent to any type of distribution channel:
- agent network
- partner network
- mobile money transfer services
FinTPm provides message filtering capabilities with detection of possible money laundering transactions against white or black lists.
Transaction mirroring between the production and backup platforms, ensuring business continuity, data integrity and consistency. Real-time resilience at the transaction level, as well as a high degree of virtualization, which contributes to saving on vital resources.
Performance reports useful to infrastructure architects. This tool assists technical teams in investigating performance issues and in validating a combination of deployment architectures (hardware and software) and operational architectures (different flows and configurations).
Disbursements exceeding the configured amount limit are split into sub-transactions. This ensure each sub-transaction is in compliance with the legislation and the limits imposed by each partner MMT.