We are really excited to work with small to medium size autonomous financial networks who make their own rules on use of funds and the kind of administrative controls they apply on their funds.
At Malipo, we continue to improve the tools that power these networks and this week we have released a bunch of powerful features that will enable our users to do even more. One of the key requests we have received from the financial networks on Malipo is ability to create different loan products on Malipo, with enhanced customization like different interest rates and penalties calculations on defaulted loans. A key extension to this feature is our advanced reporting engine that aggregates all the interest and penalties paid on the loans and provides a clear view of the income the financial networks have at any given time.
Malipo already has a ledger feature that enables financial networks to allocate funds to different ledgers to provide clarity on the money they have and what they will be used for. We have extended this powerful feature into our reporting engine so that you can quickly tell the total across each ledger and even select a ledger to be treated as income to the network. The best use case being charges levied to members for different offences in the network like late for meetings, missing meetings, late contributions etc.
These features together with our billing service provide us with a great base to now go ahead within the next 3 months to build an income distribution engine to members of the network. The income earned by the financial network needs to be paid out to members at given intervals and determining the ratios of how to distribute this income can be complicated. Malipo is looking to change this and make it as seamless as possible. At the core of this will be our income ratio metric that will be assigned to each member.
Decisions tools and the automation of the same remains a key cog in how small to medium size financial networks operate, our 1st tools created a summarized financial profile for each member that is different from the statements generation we already provide for these networks. We noticed analyzing statements was not a great tool to power decisions and so we have released a transaction profile feature that is visible across all member actions and points of decision within the platform.
Our RED, AMBER AND GREEN colors have also been introduced to rate member activity within the financial networks, now you know which members are dragging you back.
We are very excited to watch the growth and success of these networks within Malipo and to observe how you use the features we continue to build to power your success.
September 11, 2024
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