Musoni System Key Features
The Musoni System has a simple and clear user interface, with best-practice workflows taking you through all core processes, and relevant data always at your fingertips. The IFC recently described it as “so user friendly that loan officers are not required to be proficient in IT. The system has a simple graphic user interface and features a logical distribution of functions, so each user can easily access and manipulate the information they require.”
Client & Group Management
The Musoni System works with both Individual and Group Client methodologies. If a Group Client graduates to become an Individual Client, it is easy to change the client’s status. All client and group information is easily accessible, searchable and editable, while the workflows for adding new clients and groups are based upon microfinance best practices. The system enables the capture of personal information, unique identifiers, next of kin details, business information and much more. You can upload scanned photos or documents to a client’s account, and of course add notes to a client for anything else you would like to remember.
Loans & Savings
The Musoni System offers full and flexible loan and savings modules. You have the freedom to extensively customise products, tweaking features such as the loan term, repayment frequency, interest rate, interest calculation method, grace periods, charges and more. All products are fully integrated with accounting, but you can easily set up specific accounting rules for different products if required. The processes around disbursing loans or activating savings follow best practice microfinance processes, requiring maker- checker principals at all times, while remaining intuitive and easy to use. You can capture collateral items linked to a loan, and add loan guarantors.
The system comes with a fully configurable chart of accounts. It’s easy to add new GLs and link them to specific products, charges, or branches. While all the portfolio bookings are automated (such as when a loan is disbursed or a repayment is made), you can also enter manual journal entries when you need to make a correction, or to manage your non-portfolio accounts. In addition, the Musoni System comes with a full set of financial reports, including your Balance Sheet, Cashflow Report, Daily Trial Balance and Income Statement.
Mobile Money Integration
Building upon our experiences setting up the first 100% mobile microfinance institution in the world, we have integrated the Musoni System with M-PESA, Airtel Money and Payway. Whether you want to import thousands of mobile transactions in a single batch; automatically generate an outgoing M-PESA disbursements file; intelligently filter duplicates, split loans where the loan size is above MMT transaction limits, or enable clients to repay for one another using their mobile phones, then the Musoni System is the system for you. See how it works in the field here.
High Quality Reports
The Musoni System provides an extensive suite of high quality reports, providing information on the portfolio, client numbers, savings accounts and portfolio quality at an institution level, branch level, loan officer level, right down to information on specific groups and clients. All reports have been built using our experiences working in the field with Musoni Kenya, providing key information right to the fingertips of the individuals who need it most.
Social Performance Measurement
PPI surveys are included as standard in the Musoni System. Users can easily activate the PPI survey that corresponds to the country their organisation is operating in, select the poverty line they wish the survey scores to be analysed against, and add PPI surveys to each client. The system automatically calculates the likelihood the client is below the selected poverty line, and the PPI reports make it easy to monitor social performance across the institution. Learn more about how PPI is integrated in Musoni here.
It is now possible to use the Musoni System to send automated and personalised SMS messages to your clients, based on pre-defined business rules (such as all clients in arrears, or everybody who received a loan in the last week). You can send SMS messages either as a one off ‘Direct’ message, or as a ‘Schedule’ where the campaign is sent automatically each day, week or month. Learn more here.
Automatic Credit Checks
The system enables you to configure a number of ‘credit committee’ loan appraisal checks that are automatically applied prior to any loan approval or disbursement. These checks enable you to ensure that loans cannot be disbursed unless certain pre-requisites (such as a minimum savings balance) are met, reducing your risk and standardising the decision making across multiple users. Examples include warning you if a client applying for a loan is part of group with outstanding arrears, or blocking a disbursement if the client has previously had written off loans. You can decide the severity of the credit check, ranging from a simple warning through to blocking the loan disbursement entirely.
The Musoni App integrates seamlessly with the Musoni System, digitalising the core processes carried out by field officers. Using the app improves the efficiency of operations, reduces loan officer dependency on branches, and ensures members of the branch & management teams have more information in real time. The app can be used in both online and offline mode, enabling loan officers to work in remote areas with limited connectivity (making it easier to reach the unbanked in rural areas). The app currently enables loan officers to carry out tasks including client registrations, group registrations, business visits, loan applications and view reports. Learn more about the app, and see more screenshots of the different functionality here.
So user friendly that loan officers are not required to be proficient in IT. The system has a simple graphic user interface and features a logical distribution of functions, so each user can easily access and manipulate the information they requireInternational Finance Corporation (case study - Minakshi Ramji)
The Musoni System is safer, more accurate and reduces the need for paperworkMama Bahati Foundation (Tanzania)
Musoni dramatically improved the way we track customer profiles and repaymentsTugende (Uganda)
The system is fantastic in terms of real time reporting, user friendliness and security. The people behind the system are a wonderful teamNeema HEEP (Kenya)
You guys are a pleasure to work with. Incredibly responsive, your support is excellentFive Talents (East Africa)
The Musoni System will provide microfinance organisations in Zimbabwe with the solid foundations they need to grow their operationsGodfrey Chitambo (Executive Director, ZAMFI)
The best all-inclusive microfinance software we have ever used with incomparable and excellent support servicesFirst Choice Finance (Zimbabwe)
We have benefited exceedingly since we started using this technology. Our productivity has increased as the system is very user-friendly. Our data quality has improved... guaranteeing transparency to our stakeholders and clientsAntony Mayodi (CEO, Rafode)