IMFAS Lenden

IMFAS is a Flagship product of InitVent. It's a financial ERP system specially for micro finance organizations. It has many peripheral applications in WAVE and App. IMFAS LENDEN is one of them targeted for the member clients of the MFI Organizations.This app allows the member clients to make the scheduled payments from their own mobile wallets. Initially, Rocket - MFS of Dutch-Bangla Bank Limited has been integrated for WAVE Foundation. However, provision has been kept for adding other MFS like Nagod, bKash, etc in future.
In addition to making payments, the member clients will have the facility to access their accounts’ balances, previous payment history, upcoming payments, payment reminder/notifications, etc. This app will help to prevent misappropriation by the staffs, as payment info & updated balances will be all time available to the members irrespective of payment methods. Provision is also available to add new features in future. The app works in dual languages - English and Bangali.

Upon downloading and installation, the user has to register first to be able to use the system. There is two type of registration is available:
- Self-Registration by customer’s mobile no
- Guided-Registration by customer id with the help of loan officer
Self-registration can be done by the member client himself/herself using the registered mobile number with MFI. Registration will be completed through OTP verification, followed by own PIN creation.
Loan Officer can help the client to do the registration using Customer ID. The registration will be completed through loan officer’s log in verification followed by PIN creation.
The app is password protected. The user will be able to log in using either Mobile no or Customer ID along with PIN verification. The user will be able to change PIN anytime from the app. There will be option to remember the information.

If the user wants to make payment, all the available savings and loan accounts with likely amounts will be shown together. Then s/he will have option to make necessary changes. Upon finalizing the total payment amount, s/he has to choose the desired payment method and can make payment using relevant payment gateway. At present DBBL Rocket will work.

The app makes available different data/reports relevant to the customer. This includes Upcoming Payments, Account Statement, Payment History – all/online, Savings Balance, Loan outstanding. The user will be well equipped to keep him/herself up to date with all the transactions with WAVE, significantly reducing the risk of misappropriation.

The customer will get notification in app like, today's payment, missed payment and upcoming payments.