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How SaaS is being used in Microfinance


Software as a service (SaaS) has evolved over the past 40 years. SaaS is a business model where customers pay to use a software hosted on a remote computer. It is also considered synonymous with "cloud computing", it's just that SaaS is a business model and cloud computing is a technology service. With the aid of internet and global communications, it has been more popular nowadays.

The main difference of SaaS from the traditional software is that your data is transferred over a network to the SaaS provider. The application does not reside on your computer – it’s hosted on another computer. You send your data to the provider, and the provider sends all app-related data over the internet to your computer.

Microfinance SaaS developed by Jyosna are highly customizable to an institution's products, services, and policies. Through enabling real-time access to information, SaaS is saving a lot of productive time for MFIs who have adapted to it.

In Jyosna, we have created our own system called JYOSNA Enterprise Management (JEM) which is an Enterprise Resource Planning software (ERP). JEM houses these several web-based applications readily deployable in the framework. This system is like a multi-tenant framework in which in the future, other developers would be able to create and develop their own software within this framework. Under JEM, we have ATMOS, which is a financial service platform used by MFIs to serve their clients. It was designed to reinforce the core business model of the microfinance organizations such as the following:

  • Client center / Group Management
  • Product Management and Deployment
  • Loans
  • Savings
  • Time-Savings
  • Subscription to Add-on products / Services
  • Client / Member’s Benefits
  • Insurance (Optional)
  • Central Management Control Panel
  • Centralized Operations Reporting
  • Regulatory Reports

We also have Human Resource Management, Basic Payroll (Optional), Institutional Access Control, Internal Communication and Application Program Interface (API).

Fighting poverty and promoting economic growth has been achievable for low-income families in the Philippines because of the Microfinance industry. Together with the MFIs we will strive hard to create more opportunities for the most disadvantaged. This is why we are making an effort to keep up with the advancement of technology and bring MFIs and their people to a better place.