Microfinance Focus, August 9, 2011: Software and Technology Solutions provider Kredits has developed a multi-jurisdictional regulatory compliance software solution for the microfinance industry which offers advanced reporting and credit bureau support required to cost-effectively maintain regulatory compliance.

Already in use by Kredits’ MFI clients in Kazakhstan, Brazil, India, Madagascar and soon available in other Southeast Asian and African countries, the Kredits regulatory compliance solution helps regulators, credit bureaus and microfinance institutions collaboratively and collectively combat fraud by allowing them to easily and accurately track all loans disbursed in their jurisdiction.

“Stricter regulation and monitoring of MFIs, as well as supporting them with risk mitigation facilities such as credit bureaus, is becoming an increasingly critical component for implementing stronger regulatory oversight and bringing about greater transparency in microfinance operations,” said Don Eggert, CEO of Kredits.

Kredits’a solution enables MFIs to easily build and electronically submit highly-customized financial reports to their local regulators.