Brainysoft prepared IFI for new standards of the reporting

Since January 1, 2018 all microfinance institutions (IFIs) upon the demand of the Central Bank of the Russian Federation are obliged to pass to a new format of accounts or to stop work in the Russian market. Thanks to system implementation of the resident of an IT cluster of Skolkovo Foundation of Brainysoft company one of IFI — the League of Money company made this transition and successfully tested work in a new format.

League of money finished system implementation of business management of Brainysoft microfinance institutions in July, 2017. Process of implementation took about half a year. Transition to Brainysoft was performed in one stage – on July 25 a former system was disconnected, and the staff of League of money right there began work in new.

"Double" data mapping of accounting of borrowers became distinctive feature of a system: one – for financiers and accounting, the second — for linear personnel. The staff of financial services uses in work more expanded layer of accounting – in the IFRS format. Managers of regional offices see the interface which is clear as him, and to the client — amount of debt, the accrued interest and other. Thus, Brainysoft replaces with itself both the CRM system, and, partly, the accounting program.

Balashov Alexander, technical director of League of money: "The Brainysoft company allowed us to save and not to develop two systems independent from each other".

The business model of League of money assumes existence about 300 account managers who come out to the house to the potential client, his solvency carries out the assessment (along with online scoring and a security service) and makes out the agreement using online access to the Brainysoft system. Issue and repayment of the credits happens online via payment terminals, online banks and own website.

Thanks to such model the company achieved the level of delay of 12% (the average level in the market is 18%) and stable growth. According to RAEX rating agency (RAEX), the amount of the loan portfolio of League of money according to the results of the first half of the year 2017 was 768.5 million rubles. In comparison with the same period of last year the gain made 60%. At the moment about 200-300 thousand requests monthly come to a system.