ICTworks by Inveneo

Have you wondered how microfinance institutions (MFI's) could leverage short message services (SMS) text messages to provide most cost-effective loans to their customers? Ben Lyons of FrontlineSMS:Credit has, and he's come up with an intriguing solutions: middleware between mPayment systems like m-Pesa and Zap and MFI management information systems like MiFos and Octopus.

FronlineSMS:Credit Solution

Right now, MFI clients and loan officers send in loan repayments via mPayment services, which notify the MFI via SMS text messages. That's great if you only have a few clients, but successful MFI's soon run into a scaling problem - there are only so many mPayments that MFI staff can transcribe from mobile phone to MFI accounting system at one time before being overwhelmed.

So FrontlineSMS:Credit sits between the mPayment system and the MFI accounting system, quickly converting the SMS's from the mPayment system into accurate client loans and repayments in the MFI management information system (MIS). It can also serve as a conduit between client/loan officer and MFI, quickly responding with loan balance and repayment progress.

Here is Ben Lyons describing the FrontlineSMS:Creidt process at Inveneo's mission*social offices:

Find out more about FrontlineSMS:Credit on their website or on Twitter.

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