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Qredits’ Branchless Approach: the vital role of technology for MFIs

Publication Good practices

Financial sustainability has always been a goal and part of Qredits’ strategy to achieve higher social impact and bigger outreach. Therefore, the organisation started its operations with the idea that they would have to be supported by a highly sophisticated IT system. Qredits delivers finance locally in a central approach based on the use of the MicroNET system (Qredits’ tailor-made MIS), a completely digitalised workflow process. The system allows all officers to work from different locations, status changes are handled by the system, documents can be generated by the system, and complete management information is directly available. This reduces travel and process costs and increases transparency. As a consequence, decentralised branches and their related costs are avoided.

In particular, the MicroNET system is characterised by Internet credit applications (through which clients can apply from their own homes), and by downloadable e-learning courses and free templates (that permit potential customers to download necessary information themselves, thus increasing speed, initiating the automatic digital filing, and reducing necessary meeting time for all parties). Moreover, the system allows for a central back office since the whole work process is digitalised, and all the loan officers can be supported by one back office and one risk management unit.

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