One of the main activities of microfinance is daily collection. Daily collection is a service commonly offered by MFIs, and consists in recruiting individuals at their place of activity, who avoid the hassle of going to a physical branch. These customers can now build up savings on a daily basis by depositing a certain amount of money in the hands of a collector against a receipt. The deposits are paid into specific collection accounts in the affiliated agencies.

This form of savings differs from traditional savings in that the administrative requirements are lighter while the associated privileges are limited. Indeed, a daily collection client is not necessarily a member of the microfinance organization, which adheres to the vision and policy of general solidarity. For example, the latter is obliged to acquire a certain number of shares at the time of recruitment. This is not the case for the client of the daily collection, who is limited to the rights of constitution and withdrawal of his savings.

As daily collection is a classic service in most microfinance institutions (MFIs), it becomes appropriate for the latter to develop new strategies to stand out efficiently and gain market share. FINTECH ITECH SARL, having understood these issues, has been proposing for several years a complete digital and efficient solution that revolutionizes the daily collection activity: the I-Collect solution from the ALPHA range.

I-Collect allows collection agents to be more efficient operationally thanks to a digitalized management of their daily field activities through mobile terminals called POS and phones. These terminals, which have the added benefit of providing remittance receipts, are connected to branches where supervisors can monitor activity from the comfort of their office. Supervisors can also evaluate the performance of their teams instantly while maintaining control of their routes and credentials. This provides an additional level of security.

In the same vein, I-Collect has several modules that offer more latitude in managing certain levels of validation and accounting follow-up for managers. This module is called I-Collect Admin. As for the savers, with the MyCollect application that can be downloaded for free on Play Store, they can access their operations themselves from their terminals (PC, Smartphone, tablet). They can also carry out transactions between their electronic wallets and their savings accounts. Finally, I-Collect demystifies the commission calculation in the daily collection chain (EMF, Collectors and savers).

With this new daily collection formula, microfinance institutions are joining the neo banks in the field of digitalization of financial offers.