We’re excited to announce the launch of Musoni 1.27, bringing a ton of exciting new features and functionality to the system. This article gives a comprehensive overview of the release highlights. For the full release notes please click on the button at the bottom of this article.
1. Enhancements to audit module
We’ve made it much easier to pull out all a full audit trail on any client, loan or savings account without having to search for each particular action in the audit module. On the Client Details page, we have added a new tab called Client Audit, shown below.
Clicking on the ‘Client Audit’ button will now pull out a list of every single action linked to the client, or any of the client’s accounts. For each action you’re able to easily see what the action was and which user carried it out. If the action required a maker-checker, you are shown the details of both the maker and the checker.
You can pull out the audit trail linked to a single savings or loan account by going to the Audit tab on the savings or loan details tab, and then clicking “Audit” as shown below.
This then shows you any actions that have occurred, along with the timestamp and the user who carried out the action, just for that one account.
2. New SMS Business Rules
We’ve added a number of new business rules to the SMS module, making it easier than ever for you to send out relevant messages to your clients. An overview of the new rules is given below:
- Birthday messages – use this rule to send out messages to clients on their Birthday. Once configured, the rule will send a message of your choice to any client with a phone number in the system, on their date of birth.
- Loan Payments Due for loans in arrears – use this rule to send out a specific campaign to clients who have loan payments due on loans in arrears (rather than just loan payments due on active loans)
- Payments received on Active loans – use this rule to send out messages to clients who’ve made a repayment on an active loan
- Payments received on loans in arrears – use this rule to send out messages to clients who’ve made a repayment on a loan in arrears
Alongside these new business rules, we’ve also adjusted a number of the existing rules so that they can also be used for loans given directly to Groups (instead of individuals in Groups). The following business rules have been updated:
- Active Loan Clients
- Loans in arrears
- Loans disbursed to clients
- Loan Payments due
When using any of these campaigns, the system will now include Group Loans in its search, and send a message to any client in the group who has a phone number. Clients in the group without phone numbers will not be included.
3. Integration with First Access (Credit Scoring)
Our ambition is to support organisations as they look to introduce new technology into their operations. As such, we have integrated with mobile money transfer services, include an SMS module and tablet application as standard, and are soon to launch our client-facing mobile banking app.
The logical next step of the journey is credit scoring. We’re therefore very pleased to announce that the Musoni System has been integrated with First Access, a Tanzanian/US credit scoring company specializing in microfinance and mobile data. When enabled, loan application information is sent in real-time to First Access, and the scores are then shown seconds later on the loan appraisal page. Branch Managers can then make more informed decisions on which loans to approve and which to reject.
To enhance the integration, users of the Musoni System are able to configure which branches and which products they wish to have credit scores applied to. Any organisation wishing to take advantage of this new functionality will first need to enter into a separate agreement with First Access. Musoni will be happy to provide an introduction.
Alternatively, if you would like Musoni to integrate with an alternative credit scoring provider (we are provider agnostic), then please contact us separately and we can explore the integration options.
4. Improved suspense payment tracking
To make it easier for you to monitor the processing of suspense payments in the MMT module, we have changed the payment type of payments allocated from the suspense module, and added a number of columns to the module to make it clear when any payment was allocated, and by which user.
Payments allocated from suspense are now labeled as “Allocated from Suspense” rather than “Completed”, enabling you to distinguish them from normal MMT payments that did not land in suspense. See below for an example, noting the columns “User”, “Submission Date” and “Processing Date”:
5. New Reports
As part of this release we have added two new reports to the system, the Accruals in Period Report and the Loan Officer Performance Report.
5.1 Accruals in Period
This report shows you all accruals bookings that have been made between a user-defined start and end date, broken down per loan account. The aim of this report it to make it simple for you to reconcile and understand the aggregate movements on either your income or receivable accounts shown on your Trial Balance. The report can be found under Financial Reports.
5.2 Loan Officer Performance Report
This report shows a number of core KPIs for each loan officer, including the number of active clients, number of groups, outstanding loan balance, the number and value of disbursements in the report period, the PAR 1, PAR 30 and savings balances. The aim of the report is to make it easier for you to compare the performance of your field officers in a single report. The report can be found under Organisational reports.
If you would like to learn more about any of the features described above, or see the list of all the functionality added to Musoni 1.27, then either download the release notes below, or contact the Musoni support team on email@example.com who will be happy to answer any questions you have.