FINCA DRC REQUEST FOR PROPOSAL FOR MOBILE FINANCIAL SERVICES STANDALONE SYSTEM
Introduction:
43.6 million Of Congolese adults that represents 53% of the population have mobile phones, which are used across a network that covers 20% of the country geography and 50% of the population. Approximately 10.8 million Congolese adults are registered mobile money and of these only 1.6 million are active (90days). As such, the mobile channel represents an opportunity for FINCA to have significant outreach in the country where the financial inclusion is still very low, only 11% of Congolese population have bank accounts.
There are five MNOs in DRC: Vodacom, Airtel, Orange, Tigo (it has been bought by Orange) and Africell but only four have a mobile money platform. By partnering with one or all of these MNOs, FINCA will be able to extend the reach of its services to the entire Mobile money customer base.
Under the framework of a fully mature FINCA-MNO partnership, the mobile money users would have the ability to do the following via their mobile money accounts Via USSD.
Service Requirements:
FINCA like most of the other financial service providers is planning to invest in this channel and today.
Through this channel, Mobile money users and Agents will be able to access the following service:
I. Mobile savings and loans system
The primary objective of this module is to enable FINCA DRC acquires a standalone system to manage the mobile savings and loans products from the front-end to the back-end.
* System
The scope for the Mobile savings and loan system is limited to deliver the Mobile Savings and Loans products via USSD and provide a back-end system to manage the products.
- Configurable System user profiles based on user function
- Provide a secured interface for bank users
- Able to provide a back-end with ability to support fully all the back-end tasks (interest calculation and payment, loan processing and disbursement, …)
- Ability to provide 24/7 availability (offline mode included) with a replication to DR site
- System access based on parametric rules
- Maker checker functionality for all changes
- Ability to carry out batch operations in both trial and commit mode
- Audit trail for all changes
- Data storage ability for minimum of 10 year
- System should have ability to integrate with the MNO ( mobile money system, MNO …), Core banking system and credit scoring engine
- Multi MNO facing capability
- Ability to handle more than 5,000 requests simultaneously (the system is expected to provide very high performance) and specify the Database that supports your system and number of concurrent connections
- Multi Language Capability
- Ability to handle multi-currency (minimum two currencies)
- Be able to handle account dormancy based on the set rules
- Ability to flag or block accounts
- Ability to manage transaction limits (value and volume)
* Products
1. Savings - Multiple Configurable Products
* Possible product types (non-exhaustive)
- Target Savings
- Basic savings
- Auto savings
- Fixed Deposit
* Ability to automate account opening after transfer and validation of KYC from MNO database to the bank Mobile savings and loan database
- Ability to store KYC data received from the MNO database
- Ability to store electronic signature (acceptance of the T&C)
* Ability to integration with the Mobile money system to do
- cash-in (transfer from mobile money wallet)
- Cash-out (transfer to Mobile money wallet)
- Balance check /balance query
* Parameterized interest calculation methods
- Minimum Balance
- Average Balance
- End of day balance
* Parameterized interest payment methods
- Monthly payment
- Daily payment
- End of period of time payment
* Parameterized interest configuration
- Tiered approach
- Base + preferential rate
* Processing
- Interest accrual daily/monthly
- Interest calculation
- Interest application
* Taxation
- Parameterized setting for WHT Calculation
- Tax deduction transaction after interest application as a separate transaction
- Tax pooling into single account
* Ability to charge fees
* General
- Accounts for agents and customers
- Sanction screening for all new accounts as well as periodic batch sanction screening
- Capacity to handle 10 million accounts and above
2. Lending - Multiple Configurable Products
* Loan product attributes
- Configurable interest rates
- Configurable fees (% based, fixed fee …)
- Configurable loan periods
- Configurable repayment terms (daily, weekly, bi-weekly monthly …)
* Ability to integrate with the Mobile money system and credit scoring to handle
- loan application
- loan processing and creation/generation
- loan repayment /pay-off
- bulk loan disbursements
- bulk loan repayments
- bulk interest on savings payments
* Interest calculation parameterization
* Interest accrual
* Interest application
* Accounts for agents and customers
* Capacity to handle 10 million loans and above
* Ability to age Non Performing Loans
* Ability to automate the loan processing
* Ability to automate the disbursement
* Ability to automate the repayment on the due date from
- the Mobile money wallet
- from the loan repayment account
- From auto deduction from the Mobile money wallet
* Ability to automate the loan collection process such as generate automatic SMS to customer and others
Reporting
* Savings
- Detailed interest report with selection criteria
- Pool balance report
- Generate General Ledgers update journals
- Ability to transfer KYC from MNO database to bank database
* Lending
- Interest accrual report
- Pool balance report
- Overdue report including by number of days
- Generate GL update journals
Integrations
* Ability to integrate with the Mobile money system and MNO system based on APIs provided :
- do balance query on a wallet
- Ability to strike a wallet for loan recovery
- Ability to store customer authorizations of terms and conditions
- Ability to link customer wallets to savings and loan accounts
- USSD hosting capability for savings and lending menu
- Bulk loans disbursements
- Geo location capability
- Sanction screening for all new accounts as well as periodic batch sanction screening
* Bulk uploads for updating GL in the core banking system (DRC is using currently the Orbit-R)
- Ability to integrate credit scoring engine
- On-line transfer of data from the MNO and Mobile money system to the credit scoring system
- On-line sharing of transactional and loan history data on queries to the credit scoring
- Handle the loan processing based on the credit decision from the credit scoring system
Security
- IMEI Authentication
- 128 bit data encryption
Notes:
Please also include in your response:
* Proposed Product details
- Name of product Proposed
- List the number and names of modules proposed
- Date of first release
- Current release number
- Hardware requirements
* Prior experience
- Is there prior experience integrating with Mobile money and MNOs in Africa
- Is there prior experience integrating with FINCA's preferred core banking platform,
Orbit-R? or List all core banking that the system has been successfully integrated with, and the modules that were deployed in the integration.
- Is there prior experience integrating with non-core banking platform e.g. Credit scoring system, Credit Reference Bureau? List all non-core banking that the system has been successfully integrated with, and the modules that were deployed in the integration.
- Also share contacts of clients where your organization has developed and deployed the above solutions
Response Guidelines:
- Strictly follow the above price proposal Template when presenting your financials
- Pricing provided should be itemized for each service, delineating between core bundled offering and add-on costs
- Please share detailed Technical proposals
Deadline for Proposal Submissions:
The deadline for the submission of responses is: Friday, 28th July 2017 before 5 pm EAT.
Please email your technical and financial proposals to:
Tanya CARDOSO: tanya.ndaya@fincadrc.com
It remains your responsibility to ensure that your electronic responses are received by FINCA before this deadline.
FINCA DRC reserves the right to reject any submissions received after this deadline.
Additional Information Requirements:
FINCA reserves the right to advise Bidders of additional requirements in writing (via e-mail) prior to the final submission date.
Detailed Business requirements documents are contained in the accompanying attachments.
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