A group of Nepalese microfinance organizations is investing in Nepal Finsoft Limited, an information technology (IT) company based in Kathmandu, to develop a banking management information system (MIS) the thirty-four institutions hope will provide them with “increased efficiency and capacity to serve clients [and] lower overall costs of the infrastructure shared by all participating financial institutions.”
PureSoftware Limited, an IT firm based in Noida, India, will help create the product, which is scheduled to launch in April 2017. The project is supported with technical and financial assistance from the Nepal Microfinance Banks Association (NMBA) and Sakchyam Access to Finance for the Poor Programme, both of which are based in Kathmandu. Sakchyam, which is supported by the United Kingdom’s Department for International Development, has a five-year budget of GBP 20.5 million (USD 25 million) intended to “access and facilitate financial sector development in Nepal for … enterprises [and] poor people.”
By Shreyas Nagaraj, Research Associate
Sources and Additional Resources:
[1] Kathmandu Post: MFIs work on new banking platform
[2] PureSoftware
[3] Sakchyam Access to Finance for the Poor Programme
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