Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, has announced the launch of the latest in its line of advanced mobile lending solutions this week. FinnOne Neo mFin is designed to help micro lenders provide easy, fast and digitized access to micro credit, anytime, anywhere.
According to KPMG, the microfinance industry has played a vital role in promoting financial inclusion in India. It has recorded growth of 27 percent CAGR over the last few years and is expected to grow at this rate over the next five years. Technology provides a number of significant opportunities for the microfinance sector, including in making it easier to access credit services while also dramatically lowering the cost of providing the credit. With the launch of FinnOne Neo mFin, Nucleus Software aims to make the benefits of advanced technology available to the microfinance sector.