1. Ingeniería

A purposefully designed core banking system engineered and developed for African microfinance institutions
Introducing XCORE FlexBank
Despite the recent advances in technology, many MFIs, especially in Africa, continue to face significant challenges in
managing operations and information. Two key reasons for this situation are the unavailability of suitable MIS applications
for microfinance in Africa and the high cost of existing IT solutions.
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Following extensive consultations and the partnerships
developed with more than 20 MFIs in Africa, Microlynxe
is proud to introduce XCORE FlexBank, an integrated
multi-branch centralised core banking system.
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Whether the client is a microfinance bank, S&L, rural
bank or a MFI, all of them can rely on Microlynxe’s
XCORE technology to help maximize growth, increase
productivity and mitigate risk.
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Full-house MIS with cutting-edge technologies such as
branchless banking system (smartphone and POS) and
SMS banking included as standard features.
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A practical, powerful and superior MIS, XCORE FlexBank
comes standard with Microlynxe’s own XCORE e-alert
and XCORE x-reporting platforms, making it the most
suitable and comprehensive microfinance MIS on offer
on the African continent.
…the power to unleash your potential…
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XCORE FlexBank’s Advantage
Microlynxe is the sole custodian of the innovative XCORE (Extreme Concentration On Reality Engineering and Automation)
technology, which is an acronym encapsulating our philosophy that operations should drive IT instead of IT driving business.
XCORE is engineering based on analysing the reality of MFI’s daily activities, developing systems that fully capture all
pertinent issues faced by the MFIs.
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Complete pack, full suite of modules and features for a
fixed price, designed to meet all MIS requirements of the
microfinance bank.
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In addition to deposit and loan account processing,
XCORE FlexBank addresses financial institutions’ needs
in the areas of accounting/general ledger, data access
and integration, lending, payment and trust solutions.
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Local team for round-the-clock, rapid response support
to ensure the client maximises the solution and fully
integrates it into its operations.
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On the ground presence, constant engagement with
local MFIs and banks enables Microlynxe to be in tune
with developments and trends and changing client
needs.
XCORE FlexBank is cost effective, functional & flexible, reliable, simple, scalable and fully integratable; a solution
developed to meet the needs of growing and continually transforming African microfinance institutions.
…the power to unleash your potential…
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Key features of XCORE FlexBank
XCORE FlexBank features
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Web based online access via internet or intranet and Desktop
access via a local area network.
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An environment where branch procedures are easy to control. The
system is designed not to allow input that is outside the specified
rules that have been set using customized parameterised values.
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A complete audit trail. A complete track down to date and time of
transactions and the identity of the user is retained. All
transactions can be retrieved online.
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An easy to use graphical transaction processing and information
retrieval interface. It is no longer necessary to navigate tediously
through menu structures oriented by service application to get
from one service function to the other.
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Defined interfaces through ODBC, to software products such as
spreadsheets and other office automation products. This allows
information to be transferred, messaged and displayed quickly and
easily.
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An extensive reporting functionality which allows timely and
accurate reporting of information to officers, managers and
executives within the institution as well as external users.
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Multi currency and multilingual for cross-border institutions
Branchless banking system (smartphones and POS)
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CRM module: with all customer information adequately captured,
better CRM is possible with our SMS Banking and e-alert system
…the power to unleash your potential…
Customised home screen and user interface
XCORE FlexBank’s home screen is designed to be
customised to each user’ specific information
requirements, using our integrated x-reporting tool to
allow for summarised reporting that constantly flows
from different sources, providing a clear overview of key
performance metrics just at a glance. This single view
enables users to make quicker and more informed
decisions.
Thanks to our innovative XCORE technology, FlexBank
provides a unique user interface experience designed to
be user-friendly, seamless and efficient.
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Modules
CORE MODULES
Customer Maintenance
Account Maintenance
Product Maintenance
G/L Maintenance
Loan Management
Deposits Management
Treasury Management
Transaction Definition
Transactions
Account Classification
Bank Holidays
User Access Rights
System Auditing &
matching
System Administration
& Processing
Reporting
Collateral Management
SUPPORTING MODULES
Branchless banking
SMS Banking
E-alerts
X-reporting
ENTERPRISE-ENABLING MODULES
Fixed assets
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Finance
Human Resources
Compliance
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Core modules key functions
Customer Maintenance
Account Maintenance
Product Maintenance
G/L Maintenance
This module is designed to
uniquely identify a customer
with a single identification
number irrespective of the
number of accounts or
branch offices or meeting
points where these accounts
may exist. This is done to
avoid account duplication
which is a real challenge for
MFIs.
This module allows the user
to create accounts for
existing customers with valid
identification numbers has
created using the Customer
Maintenance module. The
new account can be created
for any product that has been
defined in the system.
Account enquiries can also be
done using this module.
This module is used to create
products of all categories in
the system. The module
allows the parameterization
of product features including
interest rates, frequency,
interest calculation type, GL
Control account, interest
receivable
and
interest
received etc. It applies to
loans, savings and deposits.
This is the main module used
to define and create G/L
accounts.
The
account
created can be assigned as an
asset, liability, income or
expense.
Statement
for
various transactions affecting
any G/L account can be
viewed and printed using this
module. Accounts can be
restricted as required.
Loan Management
Deposits Management
Treasury Management
Transaction Definition
This module is carefully
designed to automate the
reality of loan management
in the banking industry. It is
designed such that no one
person can apply for a loan
and also approve it. Sub
modules
include:
Loan
application, Loan approval,
Loan disbursement, Loan
repayment.
This module is designed and
parameterized such that
deposits ( savings and term )
applications can conform to
the exact agreement as
discussed with the customer.
Interest rates, term or
duration can be overridden
during application providing
the flexibility of negotiable
terms with customers.
This module is designed to
allow microfinance banks to
carry
out
two
basic
functionalities in the money
market.
Lending,
i.e.
placement of excess funds
with commercial banks and
borrowing in times of
liquidity shortage from the
commercial/investment
banks.
This module allows rural and
community
banks,
microfinance
institutions,
savings and loans companies
and banks to set different
customized transaction codes
anytime with customized
definitions and also specify
either the code should be
used for credit transactions
or debit transactions.
…the power to unleash your potential…
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Core modules key functions
Transactions
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Cash Transactions
Internal Transfer
Batch Internal Transfer
Inter branch or meeting
point cash transactions
Inter branch or meeting
point transfer
Outward Credit
Inward Credit
System Auditing
Matching
This is a special module
designed to assist the audit
department. The processes
under this module will check
for differences in the
accounting system and report
them. Identified differences
can optionally be corrected
by a click of a button, or
further
investigated
to
ascertain its origin.
…the power to unleash your potential…
Account Classification
Bank Holidays
User Access Rights
Different
classification
categories have been created
in the system using this
module.
However,
the
organization can create more
classes
as
per
own
requirement. Example: a class
called Customer Meeting
Point can be created with sub
classes as Meeting Point A
and Meeting Point B.
Various dates which are
holidays and on which the
institution is closed to the
public will be marked as nonworking days using this
module such that the system
will not schedule any loan
repayment or allow any
transaction and start of day
procedure to be executed on
those dates.
This module is used to define
the system users (each with a
username and password), the
access rights and required
permissions including posting
limits, PAR monitoring where
for instance the branch
manager see all loan officers’
the
performance
when
individual officers are limited
to only seeing their own.
System Administration
& Processing
Reporting
Collateral Management
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Close
of
Business
Processing
End of Day Processing
Start of Day Processing
End of Month Processing
End of Financial Year
Processing
End of Calendar Year
Processing
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Loan reports
Transaction register
General Ledger reports
including Trial Balance,
Balance Sheet and Profit
& Loss
Regulatory reports
Customised reports for
investors and partners
Social
performance
reports
The module is designed to
manage various collaterals
received from customers as
guarantee for their loans. The
value of the collateral, force
sale
and
depreciation
parameters can be captured
using this module.
The
system
automatically
calculate depreciation and
appreciation of collateral s
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Network configuration
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The next generation banking system
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Using modern programming language and technologies, Microlynxe has
designed an innovative software solution to bring secure, simple and reliable
automation of microfinance banking operations.
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Thanks to Microlynxe’s unique and cutting-edge XCORE technology, FlexBank
comes with a mobile/branchless banking system that enables the MFI to carry
out complete banking transactions at the customer’s place of business, under
complete real-time monitoring by the office supervisor using smartphones.
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Field agents enter data that is pre-validated only once. It also eliminates the
possibility of manipulating data or unauthorized lending by field agents. Field
agents can also sign up new clients, provide quotes, sell products as well as
provide transaction history to customers.
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Customers get immediate notification (sms/mobile print) for cash transactions.
MFIs manage field agents in real-time, know how much they have collected or
paid out even before they get back to the office.
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These solutions help microfinance banks to meet business needs like
streamlining operations, introducing new products, reducing costs,
improving efficiencies and customer service, and ultimately increasing
revenues while reducing risk.
…the power to unleash your potential…
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MFIs can now easily extend services to new areas through partnerships
using a smartphone and quickly deploy new products such as microinsurance that require large network.
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Secure, robust, reliable, scalable and fully integratable to meet the
future challenges of modern microfinance operations.
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A good and appropriate MIS lowers transaction cost, increases productivity, reduces
risk of failure, and pushes the boundaries beyond bricks and mortar infrastructure to
carry out business. Exactly what a growing African financial institution needs today.
…the power to unleash your potential…
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technology you can trust
Ellis Avenue Apino-Plaza Ahodwo, Kumasi
P.O. Box 4252 Adum, Kumasi, Ghana
7 Matekula Country Estate, Dickens Road
Barbeque Downs, Johannesburg, South Africa
Telephone: +233 245 11 2001; +27 78 966 6062
Email address: [email protected]
www.microlynxe.com
…the power to unleash your potential…
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