"The Moscow regional fund of microfinance" passed to " ProgramBank.Creditmikro"

On May 19, 2017 the Microcredit company "Moscow Regional Fund of Microfinance of Small and Medium-sized Businesses" and ProgramBank company announced signing of the contract on complex automation of Fund and its transfer to the Unified plan of accounts and accounting reports under industry standards.

Moscow regional Fund of Microfinance (2017)

The solution automated all primary activity of Fund:

• Customer service
• Accounting of loan agreements according to the industry standard 493-P and the IFRS 9 standard.
• Accounting according to new industry standards of the Bank of Russia
• Obligatory reporting under new industry standards (OSBU)
• Integration with the experimental design bureau credit bureau, with the systems of internal accounting of Fund.

"We actively work at the microfinance market, and the project with the Moscow regional fund of microfinance is very important for us. Within the project for Fund we adapt our solution ProgramBank. Creditmikro under requirements of the Ministry of Economic Development. Thanks to it, other state and municipal microfinance institutions will be able to pass to our solution in the short time". Vitaly Zanin, account director and to marketing of ProgramBank company

"Our difference from most microfinance institutions — rather difficult procedure of decision-making for issue of a loan as we work with legal entities and our business processes include rather strict requirements of state regulation. As in our fund difficult, variable business processes and rather small personnel, we need the maximum level of automation and the most advanced technologies from presented at the market". Alexander Vladimirovich Bolshukhin, chief executive Fonda