" ITREALMS: SymbolsM boosts Microfinance with CRM module


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Wednesday, January 21, 2009

SymbolsM boosts Microfinance with CRM module

LEADING technology integrator, Progenics Corp Limited, has added another module, the Customer Relationship Manager (CRM), to boost the services of Microfinance Banks (MfBs).

This, Progenics also said would afford MfBs to meet their ever increasing need of the banks for information technology driven services.

Head, Business Development at Progenics, Mr. Yemi Daniel made this revelation in Lagos, saying that the module, CRM, would improve the banks’ customer experience over an electronic mailing (e-mail) engine to its existing Microfinance banking application, SymbolsM.

Outlining the features of the new module, Mr. Daniel said that it generates and sends mail alerts to customers whenever there is a transaction as well as gives notification alert of account balance and statement details.

“SymbolsM is a comprehensive and integrated Microfinance banking application that has been designed to systematically align all facets of banking operations to produce unparallel customer service delivery without the attendant operational bottlenecks,” he said.

Daniel also said the module gives fixed deposit maturity alert and loan payment notification to customers and equally sends birthday and wedding anniversary greetings to customers.

“The uniqueness of the new module is that the customer defines how it should work. In other words, the module is designed in a way that it is the customer that will tell the bank when he or she wants mail to be sent,” he said.

In addition, Mr. Daniel said that, based on the extra and robustness of SymbolsM as well as the need to assist as many MfBs as possible to enjoy the benefits of the application.

He declared that Progenics Corp Limited has drastically reduced the price of the software, stressing that reduction in price is to make the application affordable by both small and big Microfinance banks.

“The reduction in price is part of our effort to help Microfinance banks grow and be able to complement the commercial banks, especially in this era of information technology and we are also doing it to make the software affordable by the emerging small Microfinance banks,” he said, emphasizing that the application’s current client base, has been on the increase, especially among the Microfinance Banks.

“Quite a number of MfBs are already using SymbolsM since its launch late last year,” he asserted, noting that some new financial companies have also signed on to their investment application called Symbols Investment.

As said by him, the new sign-on on Symbols Investment includes Sky View Capital Limited, First Trustees Limited, Renaissance Capital and North Bridge Investment, as well as Credit Trust finance and Kofana Securities.

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