Microfinance
Integrated Cooperative Accounting System (ICAS):
i-Pay recognize the significance of SME projects and micro-finance institutions (MFIs) in spurring economic growth. This is why one of the flagship payment solutions of i-Pay is to make card payment solutions available for savings and development cooperatives.
The Interactive Cooperative Accounting System (ICAS) was launched as i-Pay’s answer to micro-finance. It acknowledges the problems faced by cooperatives, micro-finance institutions and rural banks in managing its accounting and information system that led to the development of ICAS.
ICAS is fully integrated software based on a comprehensive range of specialized, feature-rich module that supports a wide range of accounting and information management functions.
The goals of I-Pay through its Integrated Cooperative Accounting System (iCAS), are:- Provide an integrated web-based accounting and management system specifically designed for cooperatives
- Provide a professional technical service at a competitive cost
- Provide a marriage between i-Pay technology and its client's in-house services
iCAS addresses the following difficulties in:
- Reaching remote and off-site members
- Managing savings, loans, and other collectibles
- Creating consolidated reports
- Standardizing cooperative operations and processes
- Increasing system database size, inter-branch connection capability and limited account access
iCAS contains the following modules:
- User Setup - Controls the set-up, permission and access of specified users that correspond to their responsibility and authority
- Member Information - Allows access to and management of consolidated member databases
- Chart of Accounts - Defines default rates and percentages according to the general guidelines and policy adhered to be the client
- Transactions - Facilitates and process real-time transaction and financial operations
- Reports - Generates consolidated transactions and financial reports
- Microfinance - Manages remittances and disbursement of services