• No paperwork
(No printed collection sheet, voucher writing)

• Reduce cost
(Reduce staff cost, stationery cost, time)

• Increase efficiency

•Switch for more benefits & options

Introducing Swosti-mfi247
Paperless Micro-credit & savings
Application in Bangladesh.

No paper collection sheet

Both App & Web based Application

Complete App based transaction entry

Comprehensive App based Reports

Instant member photo capture

Most secured cloud hosting platform

24/7 concurrent data backup

Transaction data encrypted

HTTPS certified protocol

Most Efficient IT team in local MC software sector

Most comprehensive App based
Micro-credit Application
in Bangladesh.

.......and many more benefits

awaiting for you

switch to SWOSTIcall for a DEMO

Highly Secured

Swosti Softwares are highly secured with latest technologies and maintaining international standards

Mobile App

Our mobile apps ensure ultimate portability of your workplace


Dedicated Support

Our expert support teams are dedicated to ensure your satisfaction & 24/7 connectivity.



Swosti provides customization on demand to fulfill clients demand

Swosti-mfi247 – 1st Paperless Microcredit Management Application in Bangladesh

Customized SMS Notification

Initiated in December, 2014 Swosti Ltd. (a sister concern of Bdjobs.com Ltd.) introduced 1st Paperless, fully-automated Microcredit and Micro-savings Management Software Application in Bangladesh.

Using handheld Mobile device (TAB) a Field Officer or Credit Officer inserts Loan and Savings collection data during the samity visit on the go. And that’s all for Loan and Savings collection! Your field staff is now free and does NOT have to write any other voucher or do paper works.  This makes the application highly user-friendly without needing any other staff to insert branch transaction data.

In case your organization intends to do web based transaction entry through PC or Laptop, we have web-based (online, fully automated) transaction entry facility running parallelly with the existing Mobile based transaction entry.

Our Microcredit software helps you manage all your client data including loans, grants, investors, donors and much more. And it is having awesome features to capture the historical data and Apps based numerous Management Reports for your stakeholders including Top Management and Donors.

No worry about security! ‘Swosti-mfi247’ application runs on world’s renowned cloud server with topmost security features utilizing latest technology, tools and frameworks. Our knowledgeable, highly professional and energetic team is ready to listen to your requirement further to customize products and features as per your special needs.

‘HR & Payroll’ is the integral part; and so is the ‘Asset Management’ with ‘Swosti-mfi247’. So your organization gets complete software support for all your programs – Microcredit, accounting & finance, human resources and asset management and so one.

Microcredit & Micro-Finance Institutions (MFIs) in Bangladesh

Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, or a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. The term ‘Microfinance’ is interchangeably used for Microcredit.

Microfinance Institutions (MFIs) refer to those organizations who provide an array of financial services, including loans, savings and insurance, available to poor entrepreneurs and small business owners who have no collateral and wouldn’t otherwise qualify for a standard bank loan. Grameen Bank is generally considered the first modern Microcredit Institution in the world. Founded by Dr. Muhammad Yunus, Grameen Bank introduced group lending method to disburse collateral free loan among its group members. Later on this method of micro-lending was replicated by a no. of MFIs in Bangladesh.

Typical Micro-credit operations in Bangladesh

Microcredit Regulatory Authority (MRA) is the central body to monitor and supervise microfinance operations of NGO-MFIs in Bangladesh. License from the Authority is mandatory to operate microfinance operations in Bangladesh as an NGO. Currently no. of MFIs licensed by MRA is around 700.

Palli Karma-Sahayak Foundation (PKSF), an apex development organization, was established by the Government of Bangladesh (GoB) in May 1990, for sustainable poverty reduction through employment generation. A no. of MFIs receive low-cost financial assistance from PKSF and route this fund for their lending activities.

Exciting Features​

Challenges faced by MFIs

Provision of microcredit (MC) played an important role as an instrument for achieving the objective of poverty alleviation in Bangladesh. The success of microcredit has been mainly due to its ability to address the credit needs of the poor. Microcredit Institutions (MCI) in Bangladesh have developed procedures for providing collateral free loans to the poor and assetless households. After more than three decades of operation, it is pertinent that we examine whether the microfinance institutions (MFI) in Bangladesh are making a continuous progress in achieving the objectives or what are the emerging challenges. 

With the advent of technological intervention and more & more financial institutions (FIs) including Banks and Non-banks entering the microcredit sectors, MFIs are facing a no. of challenges from within and outside their purview – 


Major Challenges of MFIs: 

  • Low skilled staffs
  • Lack of Product Uniformity
  • Diverse Business Model
  • Geographical Diversity
  • High cost of transaction
  • High lending cost
  • Lack of Monitoring & audit
  • High recovery cost

We at Swosti, are aware of the challenges & situation of MFI operations in Bangladesh. Swosti-mfi247 has attempted to address the issues & challenges faced by today’s MFIs and is relentlessly working to modernize & upgrade it through its paperless MC process.

Why it is a smarter solution for MFI & Co-Operative in Bangladesh?

Sl. Particular Swosti-mfi247 Other software
01. Paperless? Yes No
02. Automation / Online Fully Automated – both Branch & HO Partially
03. Data Entry Mode Both – Online & Offline Online/Offline only
04. Data Entry Device Mobile/TAB/PC PC only
05. Data Entry Operator in Branch? Not required Required
06. Data Security Yes; through SSL layer
07. Data Backup Cloud hosting with concurrent data backup facility
08. PKSF/MRA Report? Instantly? Yes – Branch & Consolidated. Branch only.
09. Consolidate Reports? Instantly? Yes No
10. Technological Advancement Latest Old
11. Dropout, Write-off, Member Transfer? Yes. Journals are generated automatically with Narration and previous History. No
12. Can BM/HO correct wrong transaction, automatically? Yes, all types of corrections – AIS & MIS (without needing to access database). No IT Specialist needed. No
13. Transaction SMS Alert to Member Yes, with detailed transaction break-down. No
14. Branch Work load Easy and Fast. No further voucher writing Lengthy
15. Member Admission Easy & Fast. Photo can be captured & uploaded instantly. Lengthy
16. Duplicate Member Checking? Yes. No.
17. Individual UserID? Yes – Each user access by her own UserID. Br. based Access
18. Cashless System? Yes – option is available (with Mobile Banking Synchronization). No.
19. One Time Installation charges? Low – if you are already using software. Yes
20. Monthly Service Charge Low. High
21. Monthly Hosting charge Low High
22. Customer Feedback Very Positive
23. Swosti Team members Young, Intelligent, Knowledgeable and Energetic
24. Special Mention You will be regarded our ‘premium’ partner. We shall provide additional customization as per your need. One of many other existing clients.
25. HR & Payroll and Asset Management Will be integral part of the application No

PKSF affiliated MFI Software

On January 15, 2017 Swosti presented ‘Swosti-mfi247’ in-front of senior officials of PKSF. PKSF after full deliberation of this Mobile-based Paperless application recognized ‘Swosti-mfi as PKSF affiliated software vendor.

Presentation of paperless Micro-credit system to the high officials of PKSF as on January 15, 2017 at PKSF conference room.
Presentation of paperless Micro-credit system to PKSF
Swosti CEO with Mr. Fazlul Kader, DMD, PKSF

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