CREDINFO

System Overview

Booklet

CREDINFO System Overview

System Overview | CREDINFO

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Dear Reader,

You are reading the description of

CREDINFO, a credit information and

enterprise promotion tool. Since the

system is very complex, this is just a short

summary of the available modules.

The core of the system was created in

2001. According to the demand arising

within the network, a national central

database was set up in 2004, and we

started to install the system nationwide.

CREDINFO can be divided into 4

main parts. A public portal constitutes an

important part of it, where registered

MFIs can present their organization and

its operation on a unified interface, and

can place their loan products with their

description in the “credit webshop”.

These loans can then be applied to by

registered users online via our system.

Registered users (entrepreneurs and

microcredit clients) can introduce

themselves via the public interface,

describing their enterprise, products and

services.

Enterprises and entrepreneurs

may register in our system free of charge

by completing a simple electronic form.

System Overview | CREDINFO

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We provide an internal interface

for REGISTERED USERS (entrepreneurs

and microcredit clients), where they can

benefit from several enterprise

promotion services. On a unified

interface users may upload their details

regarding the enterprise, products and

services (including descriptions and

photos). They can submit a loan

application online for the loan product

selected from the “credit webshop” to

the MFI offering the loan product via a

microcredit cart. When completing the

loan application an assistant helps the

applicant to compile the business plan for

the requested loan product.

After preparing the business plan the

applicant may receive a precise

repayment schedule with the push of a

button. Furthermore, when completing

the cash-flow plan, the applicant does

not have to provide the figures again

because the system calculates

automatically with the entered figures.

In addition to submitting a loan

application online, entrepreneurs may

register their enterprises in our company

database, where they can find their

current and future business partners. On

request the system checks the credit

worthiness of the applicant previously,

and on the basis of the balance sheet and

profit and loss figures the system creates

a full financial analysis (with diagrams

and explanations) automatically.

System Overview | CREDINFO

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After selecting the

items for the

“microcredit cart”,

unregistered users

are assisted in the

compilation of the loan application by the

“microcredit wizard”, who takes the

applicant through the whole process

(including registration as well) step by

step.

The system has its own internal message

sending function as well, where the users

can communicate with each other or the

loan officer of the MFI in connection with

a pending loan application, for example.

(This message sending system is a

separate internal messaging interface. It

is not the same as the Internal

Communication System, which has

specifically been created for MFI users.

See detailed description below.)

Another interface is provided for ing

projects, entrepreneurial networks as

well as inventions, where users can

organize and to do lists and tasks relating

to the given item. Also, if a project or

network is set as “public”, the details will

become available for external and

unregistered users, by providing a further

publication interface in this way.

The system provides additional services

for ADVISORS, within the scope of which

they can create their own client

database. They can submit a loan

application for their clients registered in

the system, and can prepare a financial

analysis for them. In brief, we provide a

tool with which they can help their clients

to manage their business.

System Overview | CREDINFO

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For MFIs a separate interface is made

available, where each user may access

functions and data according to their

eligibility. MFIs can set their own

datasheet on this interface, and

complete their loan product list (also

providing technical parameters which

relate to the business plan necessary for

the application). In addition, the entire

online credit assessment module also

includes an online value appraisal

module, thus appraisers having the

eligibility may the appraisal of the given

collateral directly in our system, from

which data the system creates a PDF

document on request. Also, the appraisal

may be assigned to the concerned

assessment with a few clicks.

The credit assessment function

provides an opportunity for handling

complex credit assessment processes. A

co-ordinator selects the members of the

credit committee (preparer, expert,

assessor, etc.), who can perform their

tasks relating to the assessment online in

the specific part of the assessment

process. All the documents and photos

relating to the assessment are uploaded

via this interface, thus all the players

have access to the information required

for decision making on the basis of the

System Overview | CREDINFO

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appropriate eligibility settings. The entire

financial analysis of the applicant may be

enquired directly from the credit

assessment module to facilitate decision

making.

The system sends an e-mail or SMS

message about the start of each phase

(according to the setting). (E.g. it sends a

message to the co-ordinator about the

arrival of an application, or the assessors

about the start of the assessment

process, or the client about the approval

of the application.)

An Internal Communication System is

available for the MFIs in the system. This

enables local communication within the

MFI, and on request, global

communication – at network level –

among the various MFIs. The local

communication interface is suitable for

discussing internal topics/problems with

the colleagues, whereas the global

interface can be used for communicating

with people working for other MFIs at

different administrator’s or management

levels.

The system has further sub-modules

facilitating the daily tasks of the MFI, e.g.

telework management, organizing study

trips, visits or conferences, or in case of

credit mediation the calculation of

commission, too.

Various interfaces can be added to the

system in a modular way. Currently the

CREDINFO system ensures the daily and

monthly data supply prescribed for the

MFIs within the scope of the JEREMIE

programme in Hungary.

Owing to the architecture of the system it

is possible to prepare reports and

statistics from the data ed in the back

office system. On the one hand this

enables the people having appropriate

eligibility within the MFI to monitor the

crediting activity (e.g. credit portfolio),

and on the other hand reports can be

compiled for the donor or other central

organizations, and if required, reports

may be queried from the data of a

specific MFI, but – in case of a network

co-operation – such reports may be

queried from the data of several MFIs as

well (at national or EU level, too).

System Overview | CREDINFO

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The entire internal records of

the system can be found in the Credinfo –

BackOffice System. This module forms an

independent unit with its own database,

which works independently in case of

each MFI. Data synchronization between

the central CREDINFO system and the

BackOffice System is done by a

synchronizing module developed by us.

The BackOffice System is a full client and

credit recording system, which can be

used on its own as well. It is capable of

handling several credit funds separately,

with various product types per credit

fund. It handles product types with

monthly and quarterly interest payment

obligation with variable or fixed interest

rates. It is also capable of handling

revolving credits or credits with banded

interest rates. On closing, it conducts an

automatic credit account rating, and

prepares the necessary notices or

dunning letters. Contracts may be

prepared with the help of word

templates. Contracts and other electronic

files are stored in the FileStore of the

system. It can prepare analytic and

syntetic reports and individual

statements required at the most

important information levels.

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Currently the introduction of an

integrated filing-archiving system is in

progress. This system is also able to

function as a separate independent

system. It can file/archive scanned

documents and file outgoing and

incoming e-mails.

Being integrated into the CREDINFO

system the identifier of the client may be

assigned to the letter arriving from the

client immediately when the letter is filed

so that it can be retrieved later on easily.

An EDUCATING TOOL has also been

developed, which at secondary school

and college level provides training for

potential career starters and teaches

them how to acquire micro credit and

how to apply for one. With regard to the

fact that one of the modules of

CREDINFO is the microcredit webshop,

students can view the currently available

(national) loans on offer. They can select

the appropriate loan product for the task

assigned by the system from here, and

prepare the necessary business plan and

online loan application. The educating

interface is nearly the same as that of the

real CREDINFO system. The only

difference is that the submitted loan

applications are received by the teacher,

who can evaluate them.

It is a continuously developing system

offering complex IT solutions, and

expands by taking into account the

current needs. In case of its application

there is no separate development cost,

the operation includes the continuous

monitoring of user needs. Currently, the

system is used by 14 MFIs in Hungary,

and we are having negotiations with

several organizations regarding its

introduction.

This booklet provides only a short

description of the system and it is not

exhaustive at all. Should you have any

questions, please contact us.

Nándor Benczur, CredinfoLtd. Managing Director

Our professional

supporter

CREDINFO Ltd.

info@credinfo.eu www.credinfo.eu

LEA Hungary info@rva.hu

www.fea.info.hu