2009 Software Reviews

Transcription

1 Contact information of the person who fills the questionnaire: Name Position address Phone number Since when are you working with this institution? Atul Pande / Rajesh Mirjankar Head of Products Business- UK / President, Enterprise Solutions & Services Group [email protected] / [email protected] (+44) ; (+44) / (+91) ; (+44) Months / Since inception COMPANY PROFILE Contact Details URL Postal address 20 King Street London EC2V 8EG - U.K. Country United Kingdom Region Europe_and_Central_Asia Fax number (+44) Sales representative Atul Pande Technical manager Ashutosh Jha Established since Year 1995 Status Other Closely held Public Limited Company Description Sum of No. of Shares Sum of Shareholding Main shareholders (with % of shares) Barings/FII : 53.22% Employees / Others : 2.31% Employees Trust : 0.22% Financial Promoters : 27.16% Founder Promoters : 16.71% NRI other than Company : 0.38% Grand Total : % Turnover and Results last 3 financial years Turnover: :22 Million USD Company's turnover :20.9 Million USD :17 Million USD :12.7 Million USD Turnover linked to microfinance activity between 15 to 20 % Net Profit : 1.89 Million USD Company's net profit : 58,329 USD : 2,213,834 USD : 2,313,313 USD Profit link to microfinance activity 12 to 15 % Staff Whole company staff 500+ Core Banking / Microfinance Systems Staff 220 Sales & marketing CBS staff 20 Implementation & training CBS staff 75 Technical support CBS staff 45 Product development CBS staff 70 Management & administration CBS staff 10 Other 280+ Other softwares / services that your company provides All are branded as Anti Money Laundering - Universal Banking; Anti Softwares Money Laundering; Wealth Management; Islamic Banking; Donor/Investment fund portal; Brokerage Trading We have a separate services division - Application development and Services Management; Migration and Integration; Application Testing, Support and Maintenance; Frameworks Has your company set up partnerships for the microfinance market? with Microfinance Institutions? Page 1 of 15

2 with Resellers? NO However we are setting up partners in various geographies with Consulting companies? Discussions are on with two companies with NGO's? with other type of institutions? NO NO Main evolutions since 3 years Trends for next 3 years Partner with the Network MFI Create an affordable solution (Total cost of ownership) for the MFI market Offering dual solutions - Banks branching out to MFI markets in emerging economies. Partner with additional Networks Create Business Partners in wider geographies - Latin America and Europe Banks, Investors setting up green field MFIs Mobile Banking SOFTWARE OVERVIEW Software versions OMNIEnterprise for Microfinance Date of 1st release 10/5/01 Number of releases Major version releases- 2 Latest version number Number of installations latest version (nb of MFI) 3 Number of installations previous version 65+ Date of last released version Date of next release (if already planned) Average release frequency 10-Jan-09 Not yet fixed InfrasoftTech releases new version in every months period Patches and updates integration tool Released to clients under the warranty & annual maintenance contract FTP server for patches download NO FTP server for patch download is not secure and hence not applicable Type of institutions targeted Commercial Banks Microfinance Banks Community Banks (limited service area) Finance Companies Savings and Credit Associations Cooperatives and Credit Unions Non-profit Organizations Others Brokers, Forex Dealers, OTC traders Market references Number of operating clients in 2006/2007/2008/ (for OMNIEnterprise suite of solutions) Number of operating microfinance clients in 2006/2007/ This includes organisations/institutions involved in the business of Community/ Group Lending & Rural Banking, who provide loans to its members through group savings. In India, Co-operative/Rural/Grameen Banks has been contributing towards financial inclusion by providing small tickets loan to poor populace in rural areas. Lowest and highest number of branches within MFI clients Lowest number of branches- 3; Highest number of branches- 353 Average number of branches per client Lowest and highest nb of accounts handled within MFI clients Number of microfinance clients by country (2008) Number of microfinance clients by country (2009) Lowest number of accounts- 28,000; highest number of accounts- 1 million Year Total 27 Year Total 26 (count by region below) Europe and Central Asia :1 Sub Saharan Africa : 0 East Asia and Pacific :0 South Asia :22 Middle East and North Africa :2 Latin America and Caribbean :1 Page 2 of 15

3 Ethiopia Ecuador Bolivia Number of ongoing installations by country Peru Cambodia Kenya India Number of clients in 2006/2007/2008 by type 2006:34 / 2007:44 / 2008: 66/ 2009:99 Commercial_Banks 2006:2 / 2007:3 / 2008:4 /2009: 7 Microfinance_Banks 2006:0 / 2007:0/ 2008: 1/2009:9 Community_Banks (limited service area) Finance_Companies 2006:0 / 2007:0/ 2008: 2/ 2009: 2 Cooperatives_and/or_Credit Unions 2006:29 / 2007:38/ 2008: 55/2009: 76 Non_profit_Organizations Savings_and_Credit_Associations 2006:0 / 2007:0/ 2008: 1/ 2009: 1 Other(Gramin) 2006:3 / 2007:3/ 2008:3/2009: 4 Commercial offices (including resellers) Number of commercial offices 5 Head Quarters & India Operations Trade Star, A-Wing, 6th Floor Andheri-Kurla Rd, Andheri (East), Mumbai , INDIA Tel: , Fax: [email protected] 20 King Street, London EC2V 8EG United Kingdom Tel: ; Fax: [email protected] Location of commercial offices 2nd Floor, Lincoln Chambers, 31 Broad Street, St. Helier, Jersey JE4 3RR Tel: ; Fax: [email protected] Support center (including resellers) Infrasoft Technologies FZ-LLC # 301 Building EIB No. 04, Dubai Internet City, Dubai Tel: /9; Fax: [email protected] Number of support centers 3 Global Support Center: Infrasoft Technologies FZ-LLC 622 Venture Capital House, 6th Floor, Building No: 247, Block: 317, Road: 1704, Diplomatic Area, Manama, Kingdom of Bahrain Tel: , ; Fax: [email protected] Location of support centers Trade Star, A-Wing, 6th Floor Andheri-Kurla Rd, Andheri (East), Mumbai , INDIA Tel: , Fax: UK and Middle offices help in the support processes in special cases Support center staff (number of people) 45 A unique number is given to each of our customer to call. We also do Hotline other support via web (secure remote access to client server), and chat other than phone and onsite/on call support Support in which languages English, local Indian Technical documentation available User documentation available User club existence Page 3 of 15

4 Feature- PDA based Banking Donor Portal More flexible System Architecture Main evolutions since 3 years Completely web based More databases are tested Full parameterization, Global Coverage Outreach through Partners Trends for next 3 years Forecast features under development for the software Over the next 3 years a number of enhancements are planned across the product, in the following areas: 1. Regulatory Compliance: Recent changes to consumer credit directives, mainly in the European markets, have called for a number of changes in the way the microfinance loans engine should function. These changes are mainly to do with calculation of early settlement rebates, charges, fees, etc. Although the product currently has such features within the engine, the same shall require some configuration in order to make it fully compliant with such evolving regulatory guidelines. 2. Localization: Given the diverse geographies in which the product is planned to be rolled out in the next 2-3 years, the product shall be undergoing country specific localization for a number of geographies. This shall be achieved by means of further parameterization across a number of modules within the product Further innovation in pipeline for microfinance market Outsourcing Targeted new clients for next 3 years According to you, who are your (3 main) competitors as microfinance software editor? Current competitors Estimated future competitors The five major strengths of your software FUNCTIONAL COVERAGE Client Information Management core banking system In lines with current market dynamics, following are the key areas of innovation planned: 1. Shrink wrapping additional Universal Banking modules to allow access for Microfinance 2. Creating a system for virtual operation. 3. Enhancing the remote management capabilities. *Virtual operation means providing support/services to client without having physical branches where one operates. It enables financial institutions to expand the reach at very nominal cost. It is supplemented by technologies such as SMS, PDA and Kiosk We are currently working with partners who would be offering a complete service - Solution/Implementation; Business process outsourcing to all levels of MFIs We are looking at targeting all tiers of MFI segment and make product versions flexible enough to address these in the next 1-2 years. There are many competitors in the market with varying strengths - Each has varying degree of matching functionality, presence, inclination, support capability. Some products which are regularly seen are- Emerge- Tremens; Bankers Realm - Craft Silicon; Abacus One world - Fern. Flex cube - Oracle in addition to others Very Strong Lending ( to suite all types- simple and complex, including Group Lending); Proven offline processing capability; Multi Entity, Multi Lingual, Multi Currency, Multi Time zone; Agent management; PDA based banking/loans Fully parameterized Client data such as name, marital status, age, gender, address (home and work) and activity OMNIEnterprise Client Information Form has the capability to capture all details of the client & arrange/ group them in tabular form such as Personal Details, Financial Details, Family Details, Employment Details etc. We also provide option of Dynamic field addition in the forms for capturing any additional data, if required, without any dependency on us. Page 4 of 15

5 Group clients data such as name, status, members (nab / list), leader, creation date, meeting date Village data such as name, location, status, groups (nab / list), leader, registration date Facilities to check client behaviour - i.e. credit and deposit status and history (either from external or internal sources) OMNIEnterprise Client Information Form has the capability to create a Head Office, Create Branch(as) & link them to Head Office, create Centers & link them to Branches, register Groups & Individuals as customers & then link the Individuals to the Groups & the Groups to the Center. OMNIEnterprise has a provision to define the Role of the Individual customer as a member of the Group, such as Group Leader, President, etc. The Center Meeting Day, time & location is also captured in the Center creation form. OMNIEnterprise captures detailed information about the Village in which the Center Meeting is to be held. Also, the frequency of the meeting, the Meeting Day, Time, the Groups attached to the Center can also be captured. OMNIEnterprise has provision to capture the attendance of Group Leaders at the meeting & generate various MIS reports on the basis of data captured. We do have a single screen from where all assets & liabilities of a client can be viewed such as, client's past behaviour/pattern of payments. Historical data on clients (including deleted, cancelled, rejected and closed loans). OMNIEnterprise captures all the history for the loan application, customer registration and account details as long as it is not purged/archived. In the product demonstrated, the system doesn't allow to register prospect. However, there is a separate module which allows the user to capture prospects details and various stages in the sales maturity cycle. Able to track clients at different stages of the process (prospect, This module can be integrated with core system and is not covered as active, blocked) part of Core offering. Thus, OMNIEnterprise has the capability of tracking different stages/ status of clients, viz., Prospect/ Active/ Inactive/ Dormant/ Deleted, etc Unique identifier of client as a parameter (internal number, Every Client is identified with a unique Id across the application, which Mnemonic, ID card, ) cannot be duplicated. OMNIEnterprise has the capability of scanning, uploading & storing the Physical identifier of client (picture, signature, finger print ) customer Photographs, Signatures, Finger Prints, along with the Customer Id, which can be called & verified during booking any transaction on behalf of the client Identifies potential duplicates (i.e.. double entry of clients) OMNIEnterprise has a De-Dupe check integrated with the Customer Master. Our Clients need to identify the fields they want to use while running the De-Dupe check. The Standard De-Dupe is run on Name, Date of Birth/ Date of Establishment, National Id. Tracks potential clients information OMNIEnterprise has a complete Lead Management module. The Lead Management Module has the provision to create campaign for marketing the loan products & define various activities under the campaign, allocate people & assign tasks & capture the lead generated, their documents, data, etc. This is an optional module and not bundled with Core banking system, however it is an extension of Core Banking Module and can be configured. Black list OMNIEnterprise has AML (Anti Money Laundering) as one of the main products in its suite. AML can also be integrated in its Core Banking Solution & Micro Finance Solution. OMNIEnterprise also has the capability to integrate with 3rd party software's to run a credit check on Clients. Follow-up of relationships between clients OMNIEnterprise has a capability to manage relationship of clients within the application, such as Spouse, Guarantor, Nominee, etc Possibility to print a client identification sheet The solution has standard print definition templates for the same. Template based format in which you can define what needs to be printed and we refer to it as print definition. Loan management core banking system Integrated with accounting system The solution has its own general ledger and can also export GL feeds to third party accounting packages. It has been integrated with several accounting packages (e.g. Sage) Number of products allowed Permits the addition and modification of loan products Lending methodologies OMNIEnterprise has a flexibility of opening/ defining any number of Products in the application. The solution provides a set of flexible parameters within which lending products/instruments can be defined. No there is no limit on product configuration. Customer can define as many products on various combination available as parameters. The system allows existing loan products/instruments to be modified, and applies any modifications to all loan contracts/accounts already defined under that particular product/instrument Page 5 of 15

6 Individual clients Solidarity groups with individual loans Solidarity groups with group loans Village banks with individual loans The solution fully supports loan products/instruments for lending to individuals on a one to one basis. A number of ready to use loan products/instruments already exist for this purpose The solution supports the group concept and the same can be easily defined along with the required relationships. OMNIEnterprise has a concept of Community Groups & Solidarity Groups. Individual Loans can be given to members of Solidarity Groups & Group Loan can be given to members of Community Group. However, OMNIEnterprise has the capability of tracking Individual Liability within a Group Loan. Loan approval/disbursement/collection happens by netting "panchayat" as guarantor. It is similar model where community lending and solidarity lending where individual takes loan and Panchayat shows their solidarity. Village banks with group loans Methodologies of interest calculation available Flat Declining balance Fixed rates Special products Discounted from the loan Floating/Variable rate Daily interest calculation (with weekly or monthly instalments) on principal outstanding Other (user defined) Leasing Mortgage Warrantage Line of credit Other Historic data on products Forced deposits (linked to deposit monitoring) with ability to block access to forced savings (where appropriate) Forced deposits linked to instalment schedule as a separate option. Collateral (cash and non-cash) tracking Guarantor tracking and number of guarantors per loan Loan simulation including production of instalments schedule Payment Types Term loans with constant payments Term loans with constant principal Irregular payments (set by the user) Balloon schedule (interest only instalments and principal at the end) Possibility to choose order of repayment between Penalties, Interest and Capital Other (user defined) Payment frequencies Daily Weekly Biweekly Every 4 weeks Monthly Bimonthly Quarterly (every 3 months) Bullet loan (single repayment) Other (user defined) Payment year supported OMNIEnterprise has the capability to capture the Product Parameters with Effective Date. Hence the historic data can be traced with the historic dates. OMNIEnterprise has a provision to capture the Security Deposit/ Guarantee Fund/ Margin Money on the Loan Products. Lien can be marked on these Deposits. OMNIEnterprise has a capability of adding Standing Instructions to the Deposit or Savings account, which are linked to the Repayment Schedule of Loan OMNIEnterprise is capable of handing Collateral Management & updating/ Valuating the collaterals to be in line with the Loan Amount outstanding. OMNIEnterprise has a provision to capture Guarantor details for a loan account. The number of Guarantors per Loan can be parameterized as also the number & amount of loans (Outstanding), to which an individual can be attached as a guarantor. OMNIEnterprise has a capability of automatically generating Repayment Schedule on the basis of Sanctioned Amount, Disbursement Date, Rate of Interest, Interest Application Frequency Holiday Period, Moratorium Period, Repayment Frequency & other relevant parameters. System allows users to insert user defined value on no.of days/month for the repayment frequency Page 6 of 15

7 Grace periods 365 days 360 days (30 days/month) 336 days (4 weeks/month) 52 weeks Other (user defined) Late payment grace period Installments schedule grace with interest Installments schedule grace without interest Delinquency management facilities (handling of on-time, early, late, partial, and extra payments) and calculation methodology Additional types of payments System allows users to insert user defined value on no.of days in a year for the calculation. User defined appropriation logic where accountings are done as per payment received for various case like regular exact, extra, short or late payment. Commissions and fees (Please specify at what stage of the loan cycle those fees may be charged) Penalty fees for late payments (Please specify if the user may suspends these fees) Credit insurance Group insurance fees Other (user defined) OMNIEnterprise has an event driven Charges Master. The user can define any Type of Charge as a Flat Value or Per Value or Percentage of the Loan Amount in a lump sum or Slab Wise & link the Charge to a specific event, such as Approval, First Disbursement, Each Disbursement, First Repayment, Each Repayment, Early Closure. etc. System allows user to suspends fee & charges for specific customer or account by changing status of account from normal to delinquent/no charge account. System allows user to override parameters and charges calculated at various stages of loan delinquent process with exceptional transaction. Repayment methods Cash Check Standing order (auto debit) Money order NO Configurable Current account transfer ATM Card ATM interfaces and Interfaces with Card Management Systems POS devices Mobile banking OMNIEnterprise PDA solutions allows institution to perform basic functionality on PDA device. List the different steps of the loan cycle (application, appraisal, approval, disbursement, payment) Approval workflow system Closing a loan (on-time and early) Back dating of transactions on loan accounts Loan rescheduling : follow-up and separation from other loans Expected repayment amount proposed by default by the system Unexpected amount possible (underpayment, overpayment, more than loan balance) Batch processing for disbursement lists / collection sheets Taxes management on loan products Loan accounts numbering (random, user defined, system generated) Provide a list of standard documents with example (contracts, repayment schedules, account statement) Deposits management Integrated with accounting system Types of deposit accounts Saving account, automatic, automatic core banking system Campaign, Lead, Follow Up, Application, Appraisal, Approval/ Rejection from OMNIEnterprise, Approval/ Rejection from Client, Section, Disbursement, Repayment, Non Performing Asset (Long overdue loan where accrual of interest stops and external alternate efforts are taken to recover outstanding loan), Follow Up, Delinquency Management. OMNIEnterprise also has a provision to manually assign Workflow to a Loan Product & within the Loan Product, to the Customer Type, that is to say Individual or Corporate. While Automatic Closure is done on full repayment, Early Closure has to be done manually. OMNIEnterprise supports Loan re-scheduling & the historic Loan Details are maintained with the earlier Effective Date OMNIEnterprise provides its user the flexibility of deciding whether the Loan Accounts should be user defined or be generated automatically. Customer Information Form, Loan Application Form, Loan Approval/ Sanction, Loan Disbursement Details, Loan Repayment Schedule, Statement of Account. OMNIEnterprise has integrated accounting system, which records all customer related transaction to GL/PL account for generating Balance Sheet, Profit & Loss Statement and Cash Flow. Apart from the customer accounts, system allows user to enter the transaction at GL level for noncustomer activity. Page 7 of 15

8 Current account Overdraft account Term deposit Planned saving Group saving OMNIEnterprise MFI solution has the facility to create Group Savings without the need to create extra Customers in client base. Three types of functionalities are currently supported in the product - 1.Compulsory Deposits or Margin Money 2.Group Savings & lending as a percentage of the Savings 3.In case where the MFIs are not authorized to accept deposits, Customer has to maintain Deposits with MFI Bankers & lien will be marked on such deposits, to the extent of loan value. Other (user defined) Interests on deposits calculations Time weighted method Minimum daily balance Minimum monthly balance Minimum quarterly balance Average daily balance Average monthly balance Other (user defined) Interests payment frequency (Daily, Weekly, Monthly, Quarterly ) Voluntary deposits First saving with loan installments Compulsory saving collection before loan disbursement Term deposit simulation Deposits and withdrawal methods Cash Check Transfer Batch transfer (ex : salary of the employees) ATM Card Withdrawal part available POS devices Withdrawal part available Mobile banking PDA System allows to setup/choose the interest payout as Customer frequency or MFI frequency selected. System can credit saving account as per the schedule. Other Deposit Collection Machines Tax withholding functionality Tax Withholding or Tax Deducted at Source (TDS), as it is known in India, functionality is available in the standard product & was demonstrated during the product walk through. Dormant accounts management, blocking or warning when a transaction is posted Closing with balance transfer Option for jointly held accounts Hard copies management (passbook, checks, account statements) Back dating of events recording Teller management Create a new teller core banking system OMNIEnterprise has the capability of Freezing operations at Customer Level as well as Account Level, with appropriate User Warnings. OMNIEnterprise also has a capability of Exception handling with 3 categories i.e. Warning, Confirmation (where user is prompted for Confirmation, after giving a Warning) & Serious Error, where user is not allowed to proceed. Open Till System has complete till management module, which allows user to create as many tellers and sub tellers with Chief Teller. It also allows to records denomination for each transaction. Close Till The vault functions, allows chief teller to open/close the till Cash overage and shortage management Transfer cash from vault to a till Transfer cash from till to vault Transfer cash from one till to another Transfer cash from HO to Branch office Transfer cash from Branch office to HO Cash to cash transfer by or to client Cash receipts printing (deal slips) End of day cash position Page 8 of 15

9 Bill counting accessory No Customizable interface Continuous cash position Transfer Interbranch transacting core banking system Interbranch funds transfer for clients (local) Transfer of funds between two customers current accounts within same branch was demonstrated. However, transfer within different branches could not be demonstrated due to the configuration problem during the demo, however we would be happy to showcase the feature again as it is possible. Interbank funds transfer for clients (local) International funds transfer for clients Accounting Chart of accounts management Adheres to GAAP and/or IAS provisions Supports Anglo-Saxon accounting standards (describe) additional module Fund transfers across branches is one of the common function running at most of our customers environment in Core Banking. OMNIEnterprise has a integrated Chart of Accounts Management, which is very easy to understand & simple to adapt. OMNIEnterprise allows customer to configure various accounting standards and provisioning parameters supported by reporting standard. OMNIEnterprise allows customer to configure various accounting standards and provisioning parameters supported by reporting standard. Supports French accounting standards (describe) Possible modifications to meet local legal requirements (central bank, supervisory regulations) or business requirements On-line or batch ledger updates (tills, credits, deposits) Automated calculation and posting for partial or late payments (including interests) Categorizing current vs. delinquent loans Accrual vs. cash Existence of accounts to handle interest and principal due but not received separate from accrued Software ceases to accrue interest on late loans (automatically or on demand) Cost accounting OMNIEnterprise allows customer to configure various accounting standards and provisioning parameters supported by reporting standard. OMNIEnterprise is flexible enough to customize its application & accounting standards as per the Regulatory Requirement of Specific Country or Business. Our Diverse Client Base, spread across various countries speaks for us. OMNIEnterprise has the capability of doing this. OMNIEnterprise is capable of categorizing loans as NPA (Non Performing Assets) & has a detailed Delinquency Management Module, as a integral part of its Loans Management System (LMS) & Loans Collection System (LCS) OMNIEnterprise supports accounting on Accrual as well as Actual or Cash basis. Asset management This is an additional module and can be configured. Budget management Budget is a separate module. We do not offer it along with the MFI Product. It has the provision to assign budget to various cost & revenue centers at the beginning of financial year & evaluating the deviations during the year or at the end of the year. Treasury management Treasury Management is a separate module & again it is not packaged with the MFI product. Pay-roll management Accounting interface Export to external accounting packages? (specify which) We have interfaced with many so far Import from external accounting packages? (specify which) We have interfaced with many so far End of period process (day, month, year) and approximate timing for 5.000, , , clients registered in system A Large customer handles volumes of more than 4 million transactions a day. EOD timing can not be disclosed but is efficient enough to handle the same. Generation of financial statements (provide list) More than 300 standard reports available. Generation of aging categories reporting (aging of loans) More than 300 standard reports available- All CGAP standard reports for aging are available Share Management additional module Membership share management Share buying Share selling Share valuation Dividends calculation Flexibility Consolidation / Possible network configurations Page 9 of 15

10 Single PC Decentralised Decentralised with consolidation tool Centralised on line This is web-based capacity Centralised on line with off-line option Data synchronisation is part of core offering and fully integrated. Only the incremental data is synced with central server at predefined intervals. Other Technical Deployment of software Stand-alone Client/Server ASP Web Interface Web interface is supported in OMNIEnterprise Multi-Tier Delayed posting Tracking flexibility Tracks clients at different levels (individual, group, village, branch, region, institution OMNIEnterprise has a flexibility of capturing data at a later date, with Value Date concept, to track events to the date. OMNIEnterprise has a capability to link Business Units such as Head Office, Regional Office, Branches to the Customer Types & then track the customers to its higher most Business Unit. To explicit - Head Office - Regional Office - Branch - Center - Group - Individual. Any number of levels can be added or removed from this chain. Reports can be generated at the lowest administrative office level in OMNIEnterprise & can be consolidated upwards. Track current and historical client portfolio of loan officer / supervisor OMNIEnterprise has a concept of CRM (Customer Relationship Manager), which is attached to each customer. OMNIEnterprise has a provision to assign levels of CRM for a Customer. Hence the Client Portfolio of a Loan Officer/ Supervisor, irrespective of the Client status, Multiple branches or regions Multi institutions Mechanisms for separating information on an office basis Presentation of financial or statistical information by branch or region Ability to neutralize inter-branches transactions Maximum number of accounts handled by software Maintenance of indicator lists for selected data (like region list) Is there any field that can be modified or added by user? Multiple languages Technical documentation and user guides languages Languages available within software Can support languages on a user basis All messages are in the language of choice i.e. Active/ Closed/ Dormant/ Deleted, etc. *CRM is an integrated module, to the extent required by an MFI organisation. Customer's historical data, details of previous & existing loans, details of past defaults, follow up details with the client, etc are maintained in the MFI product. currently - more than 8 million accounts User can add the values to maintenance table referred as Lookup tables. OMNIEnterprise has the provision of introducing User Defined fields to the extent of 10-20% of the total screen capacity of Customer Master & Loan Application, which are incorporated & made available to the customer at the time of implementation English & Spanish (User Guides) English & Spanish All screen information is presented in language of choice Multiple language support requires recoding (language is Selection of language is parameterized. Resource files having one to one hardcode) or is intrinsic to the system (language is parameterized) translation are being used. Statements can be in different languages? If yes, Statements can be generated in different languages but it is not possible possibility to allocate a language to a client? to allocate a language to a client Ability to handle non roman scripts NO Customizable Multiple currencies Rounding Supports local currencies and foreign currencies OMNIEnterprise is a multi currency system Supports loan / deposits accounts and teller transactions in different currencies Supports foreign exchange exposure calculation facilities Handles maintenance of value accounts and other inflationary risk mitigation functions Possibility to add a currency Daily exchange rates entry Displayed in 2 currencies? Position Management NO System allows to revalue the positions automatically to classify under short or long, once rate are uploaded in the system. It also records revaluation gains/losses to profit & loss accounts Page 10 of 15

11 Rounding per currency to fit cash constraints (5, 10, 50, 100, ), possibility to set it up by product Rounding of installment amounts (Principal + interests) Guaranty Deposits and funds Provision Reporting Guaranty funds Death insurance Guaranty fund deducted from loan amount prior to disbursement or on disbursement date Garanty fund paid before disbursement Garanty fund paid with installments Calculation set by ageing rules and product type Calculation modes (total outstanding, past dues only,...) Provision automatically calculated at disbursement Existing operational reports multiple to be chosen from Daily, Weekly, Monthly and Quarterly/Yearly reports at various level like Center, Branch, Region & Head Office. Apart from the standard reports, there plenty of reports available like CGAP/MIX and other client reports. Existing financial reports All the standard financial reports such as Balance Sheet, Profit & Loss, Trial Balance are generated in OMNIEnterprise Existing management reports OMNIEnterprise has a list of over 30 MIS reports. We also provide training, as part of our implementation plan, to our clients, to enable them to build their own reports. With SQL Reporting Services the user can built report and is deployed on central reporting server. Regulatory authority reporting (Central Bank) configurable OMNIEnterprise also provides all the Statutory Reports required by our clients, as a part of our Implementation Plan. CGAP Key Performance Indicators Below are some of the reports that are generated from OMNIEnterprise Solution: User defined reports Possibility to perform trend analysis / comparisons (i.e. this month vs. last month, payment performance analysis...) Export utility (Word, Excel, other format, ) Customized statistics Additional functionalities Payment cards Check management Payment services (bills, utility management) Money exchange service Credit scoring core banking system additional module additional module Group_Membership_Report_MFR pdf Ø Social Cohesion Loan_Security_Details_R pdf Ø Collateral Loans_Details_Priority_Weaker_Sector_R pdf Ø Social Responsibility to Community Ø Social Responsibility to Clients Amountwise_Loan_Classification_R pdf Ø Size of Transaction Client_Status_ReportMFR pdf Ø Range of Services Productwise_Growth_Report_CG pdf Ø Quality of Services Ø Transparency of Financial Transactions Donor Wise Fund Allocation_CG pdf Ø Geographic & Socioeconomic Focus InfrasoftTech provides training, as part of our implementation plan, to our clients, to enable them to build their own reports InfrasoftTech is CGAP compliant, which includes all the Performance & Trend Analysis reports OMNIEnterprise uses the standard Microsoft Reporting Services utility to generate reports, which has an inbuilt capability of exporting the reports into various other formats, mentioned here. OMNIEnterprise has the capability to capture Payment Card details & support interface with Card Payment software. This is not offered as part of the MFI solutions. OMNIEnterprise has a complete Checking Accounts module in its Core Banking Solution. OMNIEnterprise has Money Exchange Service as a Complete Product with Treasury Management. However, it can also be integrated with the Core Banking. Customer relationship management additional module We also offer a specialized Loan Origination module as described in response HR administration core banking system HR administration & Payroll Management is not offered in OMNIEnterprise. However we have the capability to integrate with 3rd party solutions. Page 11 of 15

12 Batch transfer functionality Other products and services EASE OF CONFIGURATION Configurator exists Parameterization steps Calendar (holidays / working days) Configuration printing Configuration interface/ergonomy Possibility to replicate the configuration from one system to another SECURITY Audit Audit methodology core banking system System has capability to execute large no of transaction, batch process, either thru upload from.csv, text files or reading from "Schedule post" transaction processing Delinquency Management, Trade finance, Treasury OMNIEnterprise has the capability to capture holidays at 3 levels, viz., Calendar Holidays, i.e. National & State Level/ Local Holidays, Branch Holidays & Currency Holidays. Also these can be configured for different time zones OMNIEnterprise is capable of handling Migration of Data as well as Processes from one system to another.. Rolling out new entities is very easy. OMNIEnterprise keeps a trail of all the financial & non-financial events in the applications Unique teller identification number OMNIEnterprise keeps user -wise trail of all the events in the application Traceability of products parametrization Traceability of connections - loggings Traceability of transactions Identification Users profiles (roles and privileges) Activate / deactivate a user Technology used Accountability by transaction Full audit trail functionality by consultation Full audit trail functionality data collected in log file Full audit trail functionality Backup management Using an external tool Audit Trail - OMNIEnterprise keeps a trail of all the financial & nonfinancial events in the applications, which also includes changes in the Product or any other Parameters. Detailed user wise logs are maintained in OMNIEnterprise, where the number of bad login per instance, during a day, last login date & time, password changes are traced The transactions table keeps a log of Date, Time, Value Date, Maker & Checker OMNIEnterprise has the capability of identifying different User Groups, attaching Users to the Groups & defining roles/ access rights at the User Group as well as User Level. OMNIEnterprise supports the functionality of Activating/ Deactivating a User within the application. Open Architecture- Platform and Database independent Internal tool: specify whether manual or automatic Automatic - Can be put on a scheduler Automatic recovery tool NO Databases can be configured for a back up Data protection on database between remote stations on external floppies and backup cartridges TECHNICAL ARCHITECTURE Server requirements Operating system Platform Independent SMALL Minimal configuration for , , clients Intel XEON Quad core processor E5500 (2.00GHz, 1333 FSB) with 8 cores 16GB RAM Expandable up to 32GB 300GB * 2 Nos.:SAS with Mirroring For OS External Storage : Approximate 550GB for OLTP, Backup & Logs (required only if branches are > 15)* Redundant Power Supply Gigabit Ethernet Card ( two numbers) HBA card corresponding to the SAN Switch Page 12 of 15

13 MEDIUM Optimal configuration for , , clients Intel XEON Quad core processor E5500 (2.00GHz, 1333 FSB) with 8 cores 24GB RAM Expandable up to 32GB 146GB * 2 Nos.:SAS with Mirroring For OS External Storage : Approximate 1024GB for OLTP, Backup & Logs Redundant Power Supply Gigabit Ethernet Card ( two numbers) HBA card corresponding to the SAN Switch LARGE Size of server application for , , clients Intel XEON Quad core processor 7400 series (2.40Ghz+, 1066 MHz FSB) with 16 cores 32GB RAM Expandable up to 48GB 300GB * 2 Nos.:SAS with Mirroring For OS External Storage : Approximate 2.5TB for OLTP, Backup & Logs Redundant Power Supply Gigabit Ethernet Card ( two numbers) HBA card corresponding to the SAN Switch Network requirements Describe the usual configuration Protocol Internet TCP/IP TCP/IP, HTTP, FTP Database requirements Industry-standard Database servers MS SQL, Oracle, DB2. OMNIEnterprise supports standard databases such as MS SQL, Oracle, etc. Adequate training is provided to the IT team during the implementation phase & the data dictionary is shared with the MFIs to help them in writing their own reports & resolve minor issues in- house. For maintaining OMNIEnterprise, you don't need IT expertise. We provide back office operation training as part of the Training program." Supported native databases ODBC, JDBC Workstation Operating system Minimal configuration Optimal configuration Size of client application Existing interface Excel, Word, text formats (TXT, CSV) Other Software Programming language Open source Other integrated tools PLANNING, TRAINING AND BUDGET System implementation NO NA ADO.NET Only Browser required- system being a web based. Only Browser required- system being a web based. Only Browser required- system being a web based. Only Browser required- system being a web based. All XML and any other web services based applications possible.net, JAVA Page 13 of 15

14 Implementation methodology InfrasoftTech adopts a self developed and certified implementation methodology called 'OMNILive'. OMNILive provides a holistic approach across all phases of the implementation and also utilises InfrasoftTech's global delivery capability for global implementations. OMNILive provides a set of detailed procedures across requirement gathering, product configuration, release management, testing, deployment, training, and go live support. OMNILive also provides a set of tools for communication between teams based at the client site and those based at InfrasoftTech's global delivery center in India. InfrasoftTech also has a special new short implementation methodology for smaller MFIs and reduces the implementation costs drastically. Describe how you build capacity at your client to replicate implementation of one branch to other branches by itself Installation & training partners (please indicate installation and training languages where appropriate) Average implementation time (from contract signature to service launch) Quickest implementation Longest implementation OMNIEnterprise can be deployed in both a centralised and de-centralised (branch) manner. For branch based implementations, InfrasoftTech has developed a repeatable process for making a single branch live. For implementations where there are a large number of branches to go live within a short period of time, InfrasoftTech adopts an engagement model involving IT personnel from the client side as well. A steering committee is formed which involves IT personnel from the client side who are trained by InfrasoftTech on the process of deployment. The first few branches are then deployed by InfrasoftTech resources so as to demonstrate the same to the steering committee. From there on, the client's IT resources go ahead and deploy the remaining branches by themselves with support from InfrasoftTech. Such support can be provided remotely via telephone/ or via onsite presence of a few trained InfrasoftTech resources. InfrasoftTech has adopted this approach successfully in the past and helped build in house implementation capability at the client. Currently both are carried out by InfrasoftTech The standard deployment cycle for the standard product is 3-4 calendar months. The same is normally revised after tailoring the implementation plan to specific project requirements. 3 calendar months Currently carrying out a global implementation across 40 countries which should last over the next 2 years. Guarantee period Warranty period normally offered for days after go live Installation CD ROM available Only for standard product (without client specific customizations/configurations) Software update procedure Training User training If yes, how long? Who? Cost System administrator training If yes, how long? Who? Cost Training local IT specialist If yes, how long? Who? Cost Cost of programmer man-days for customization System pricing License (basis, range cost) Sent out routinely to all clients world wide either as a patch or CD ROM Approx. 2-3 weeks and conducted by InfrasoftTech. Cost is normally included in the total implementation plan Approx. 1-2 weeks and conducted by InfrasoftTech. Cost is normally included in the total implementation plan Approx. 1-2 weeks and conducted by InfrasoftTech. Cost is normally included in the total implementation plan Standard List Price varies from $250 to $750 per day depending upon the countries. We apply PPI for defining rates for each country. For eg- India will be $250 per day and UK will be $750 per day Standard license price is between 75,000 USD - 250,000 USD and is depended upon factors such as size, country index and usage model. Ready4Use Model is a standard OMNIEnterprise Microfinance Solution, which has updated features and can be deployed rapidly at client's site at a reduced implementation cost. It has over 25 standard reports. Any additional reports required can be created by trained staff of MFI or by InfrasoftTech at additional project cost. It also consists standard template to migrate/upload data into OMNIEnterprise. MS SQL license is not included in OMNIEnterprise licence. The user can select any database- MS SQL, Oracle, DB2& Mysql. This enables them to use their existing database license too. License expiry Annual maintenance fee (basis, range, % license) NO Perpetual. However, Infrasofttech does provide licenses on annual lease basis. MFI's in future can convert, annual lease licenses, into perpetual licenses by entering into commercial agreement with InfrasoftTech. 20% for purchased license volume Page 14 of 15

15 Cost per transaction (basis, range) Assistance included in the initial license cost Average cost of installation, with standard training included (% license) Additional modules (not included in the standard software) - List features On perpetual license, we don't charge on cost per transaction. However, on annual lease licenses, cost per transaction varies from case -to-case Warranty period On Perpetual license, cost on installation varies between 70% to 120% and is depended upon complexity, country and other factors. On Ready4Use model, the cost of installation is much lesser. Saving, Current, Deposits, Trade Finance, Remittances, Standing Order, Commercial/Retail Lending module with delivery channels like PDA, Mobile Banking, SMS Banking, Kiosk, Internet, ATM, Investor Reporting Portal and Financial report output in XBRL are additional modules. OMNIEnterprise solution enables MFI (NBFC) to perform like bank, after acquiring commercial banking license, by subscribing to these additional modules without migration. Page 15 of 15

16 PRICING CASES OMNIEnterprise Microfinance Solution Infrasoft Technologies Ltd. Description of the MFI situations Number of Number of clients users Products Number of branches % Urban / % Rural Price in $ Comment s Case 1 100, Loan + Deposit + Transfer (domestic) 50 50/50 342,500 Case 2 40, Group Loan + Individual Loan 20 20/80 212,500 Case 3 15, Individual loan and deposit 10 80/20 112,000 Case 1 Contains two tables: steps outline with comments & recommendations and finally pricing outline STEPS OUTLINE Duration in month Workload in personmonth on the vendor side Workload in personmonth on the client side Comments / Recommendation PRICING OUTLINE product / service Price in $ Comments Specifications, installation, parameterization and configuration Calendar Month(s) One Person-month = 22 days Application Level Configuration will be done offshore. Once Core module License 175,000 list prices done, the system will be put to UAT Testing / User Acceptance tests UAT will be done with business team with regards to Application Additional modules Configuration & Parameterization depend on customer requirements 3-5 branches Pilot phase Database license considered for Pilot Training First branch roll-out Week User Training / 1 Week IT Training Data Migration Mapping, UAT & Sign Off Interface module + Delivery Channel Implementation Fees and Expenses ,000 not included included- No additional license cost for Tellers based on a standard implementation schedule Data Centre Setup, Branch Implementation & Plug In To Data Full roll-out Centre Logistical challenges, Training Cost Connectivity issues are factors that would impact estimates Help Desk, assistance included in the initial license cost Maintenance (yearly price) 0 17,500 included in implementation estimate- standard course 12 months from Contract signing then 20% of License each year TOTAL splitting the work onsite/offsite reduces total cost TOTAL 342,500 General comments Page 1 of 3

17 PRICING CASES OMNIEnterprise Microfinance Solution Infrasoft Technologies Ltd. Case 2 STEPS OUTLINE Specifications, installation, parameterization and configuration Duration in month Workload in personmonth on the vendor side Contains two tables: steps outline with comments & recommendations and finally pricing outline Workload in personmonth on the client side Comments / Recommendation PRICING OUTLINE product / service Calendar Month(s) One Person-month = 22 days Application Level Configuration will be done offshore. Once Additional modules done, the system will be put to UAT Price in $ Comments Core module License 125,000 List prices depend on customer requirements Testing / User Acceptance tests UAT will be done with business team with regards to Application Database license Configuration & Parameterization Pilot phase Training branches considered for Pilot 2 Week User Training / 1 Week IT Training Interface module + Delivery Channel Implementation Fees and Expenses Data Migration First branch roll-out Mapping, UAT & Sign Training Cost Off ,000 0 not included included- No additional license cost for Tellers based on a standard implementation schedule included in implementation estimate- standard course Full roll-out Data Centre Setup, Branch Implementation & Plug In To Data Centre Logistical challenges, Connectivity issues are factors that would impact estimates Maintenance (yearly price) 12, months from Contract signing then 20% of License each year Help Desk, assistance included in the initial license cost TOTAL 212,500 TOTAL splitting the work onsite/offsi te reduces total cost General comments Page 2 of 3

18 PRICING CASES OMNIEnterprise Microfinance Solution Infrasoft Technologies Ltd. Case 3 Contains two tables: steps outline with comments & recommendations and finally pricing outline STEPS OUTLINE Duration in month Calendar Month(s) Workload in personmonth on Workload in personmonth on One Person-month = 22 days Comments / Recommendation Ready4Use is a quick implementation model designed for small MFIs. PRICING OUTLINE product / service Price in $ Core module License 70,000 Comments Ready4Use is a quick implementation model designed for small MFIs. Specifications, installation, parameterization and configuration Testing / User Acceptance tests Application Level Configuration will be done offshore. Once Additional modules Not included done, the system will be put to UAT UAT will be done with business team with Database license regards to Application 2 branches considered Interface module + for Pilot Delivery Channel Pilot phase Not included (MFI can choose any database) Tellers are built in Training Week User Training / 1 Week IT Training Implementation Fees and Expenses 30,000 all expenses are charged extra at actual (not included in this estimate) Data Migration First branch roll-out Mapping, UAT & Sign Training Cost Off Full roll-out Data Centre Setup, Branch Implementation Maintenance (yearly price) 12, months from Contract signing then a fixed price Help Desk, assistance included in the initial license cost TOTAL TOTAL 112,000 General comments Page 3 of 3