META X Capabilities META X is configurable for Banks, Microfinance Institutions, Credit Unions, SACCOs, Village Savings Groups, Financial Cooperatives, Neobanks, Fintechs, and more. META X can be deployed in any cloud environment: accessible via mobile or PC; it can be adopted to support any type of organization, delivery channel, product, service, or methodology. It is easily deployable, flexible, extendable and scalable. Loans Individual Lending Loans for personal use. Configurable to be secured or unsecured. Loan Products SME Lending Loans for small to medium enterprises supported. Group Lending Full support for group lending structures with group repayment of common amount. Agriculture Loans Agriculture loans can be structured around harvest season. Business Loans Loans designed to support business growth. Typically used for home construction or a project where certain goals must be met to obtain the next loan amount. Joint Liability Group Lending Individual loans amongst a member of a group with collective guarantee. Open Ended Lending A client can be approved for a particular sum and have access to the loan for a period of Variable Installment Loans Fully configurable repayment schedule for agricultural loans in which to define installment amounts, period of time between installments. time. Custom Loan Program Fully configurable loan products to customize names, rates, repayment methods. Collateral The organization may establish collateral parameters by loan type or by individual client. Guarantor Management Automatic Loan Payment Transfers Payments are set as Standing Instruction to pay from the guarantor’s account or the borrower’s account. Loan Guarantors Other account holders can use funds to guarantee loans. The percentages and amounts are dependent upon the individual financial institution’s policies. Collection Sheets of repayment data for most efficient operations. Loan Tools Delinquency Control Account aging, account notes and calendaring to collect bad debt. Bulk Loan Reassignment Reassign loans from one loan officer to another. Reassign Loans Between Branches Reassign loans from one branch or center to another. Active or inactive, individually or in Payment Types Configure the accepted forms of payment and posting rules. bulk. Loan Cycle Tracking Graduating clients to more advanced loan products by specifying the amount, rate, and term per loan cycle. Loan Frequency Rescheduling Payment dates and frequency can be rescheduled. Amortization Fixed payment, declining interest, early repayment. Floating Interest Rates Support for variable interest rates by defining a base lending rate and interest rate differentials to raise or lower the rate. Manage Holidays Set holidays and repayment rules. Automated Loan Payment From standing instruction. Loan Loss Provisioning Define and set up 4 categories for provisioning of bad debts by defining the number of days Loan Rescheduling/Refinancing Reschedule or refinance loans in one of four ways extend the loan term, change the installment dates, provide a moratorium or grace period, or provide a new interest rate. in arrears and the percentage of the overdue amount that gets automatically provisioned into the respective loan loss general ledger accounts Manage Non-Performing Assets Define number of days in which an asset becomes non-performing and gets automatically moved to appropriate general ledger account. Savings Basic Savings Accounts Basic savings accounts supported. Savings Products Mandatory Savings Required recurring deposit supported. Passbook Savings Passbook savings accounts supported. Interest Bearing Savings Interest on daily balance or average daily balance compounded daily, monthly, quarterly, Minimum balance; interest posting monthly, quarterly or annually; interest on daily balance m m m m semi-annually or annually. Recurring Deposit Term Accounts All of the above features plus required deposit schedule through maturity. Custom Savings Programs Savings products are configured to the organization’s strategic goals and objectives. Share Accounts Specifically for financial co-operatives, share accounts configured based on business needs. Recurring Deposit Add, modify or inactivate a recurring deposit feature. Savings Tools Interest Calculation Interest calculated on average daily balance or daily balance and paid with selected frequency. Standing Instructions Standing instructions automatically make loan payments or account transactions. Dividend Calculation Full support for financial cooperatives to calculate and pay share dividends based on Receipt Printing Savings transaction receipts. shares of equity owned. Dormant Account Management Manage dormant savings accounts by defining the number of days for dormant and m Set up bands to define the interest rate applicable for an account based on the amount of the account balance. inactive status and have the balance moved into an escheated account. Current/Checking Accounts META X supports current (checking) accounts. Transactional Accounts Overdraft Automatic Transfer Overdraft privileges can be configured on current accounts with the ability to define overdraft limits and charge interest on the balance. KYC (Customer) Verification Fully compliant with any country’s Know Your Customer rules and regulations. Client Management Online Document Storage Application, decision documents, account agreements upload and tie to the client. Online signatures Signatures tie to the client record visible on the main client screen Online photographs Photographs tie to the client record visible on main client screen. Online Identification Documents ID card, passport, driver's license – capture numbers and image. Customer Approval Process Review of new customer applications prior to opening accounts. Data Tables Collect any type of user-defined data and attach at any entity or record (client, group, loan, etc.) - all data can then be analyzed and reported on. Client Risk Analysis Ability to track client behaviors to identify potential risk areas. Customer Closure Close individual account or the entire client. Client Relationship Management Accounts and loans tie into master client account. Customer Blacklists Blacklist clients no longer eligible for services. Document Templates Standard communication templates for client communication and WYSIWYG editor to create m m m Credit Scoring Organization specific credit scoring. Social Performance Management through Progress out of Poverty Index PPI indexing and tracking available. Product Mix Define rules to restrict number and types of simultaneous loans per client Business Management Banks, Credit Unions, SACCOs, Village Savings Groups, Village Lending Groups, Financial Entity Management Unlimited Groups, Center, Organizations for a single complex operation or a m Unlimited Accounts Configurable unlimited savings, loan and share accounts. Branch Management Branch staff, branch accounting, branch accounts. Reporting reporting engines Pentaho and Stretchy reports. Reporting Manage Reports Add new reports and classify reports into groups. Customizable Fields Fields can be customized to accurately reflect the organization including product names, account numbers, and required fields. Statement Generation Customer statement can be generated, printed or emailed. META X supports both accrual accounting and cash accounting following best business practice. Accounting General Ledger Integration Full integration with the portfolio for automated and rule-based postings. Journal Voucher Support Full GL and journal voucher entry support. Chart of Accounts Management A standard Chart of Accounts is shipped with META X. This can be customized for the Fees can be integrated with liability or expense accounts to facilitate the collection of premiums and other charges. organization. Account Number Preferences Preference for generating account numbers for client, loan and savings accounts. Business Rules and Workflows Workflows (Entity Data Table Checks) Define simple approval workflows for clients, loans, and savings by the ability to define and require data tables to be captured at specific lifecycle stages. Cash Management Central bank, branch to branch, vault to cashier all tracked. Cash Management Funds Management Manage funds associated with loans, full general ledger integration. Funds Transfer Internal transfer branch to branch. Product Management Loan Configurator Configure due date, amortization methods, terms, repayment strategies, Loan due dates, product names, currency, maturity, fees, grace periods, Central Product Configuration Savings Products Configurator Product name, currency, terms, minimum balance, lock-in, interest, fees, compounding Account Number Preferences Generate account numbers for client, loan and savings accounts periods m m m m Fees and Charges Recurring Fees Recurring fees can be set up. Late Fees & Automatic Penalties META X supports late fees and automatic penalties. Global Application of Fees One-Time Fees Fees such as loan application fee, processing fees are easily configured. Flexible accounting classifications Fees can be integrated with liability or expense accounts to facilitate the collection of Define Charges Define charges and penalties for product offerings. premiums and other charges. VAT Tax Withholding Support assessing and collecting tax as a percentage of interest by defining tax components and tax groups and attaching as charges. Multi-Currency Regional currency and multi currency support. Supports: Spanish, English, Georgian, French, Portuguese, Vietnamese, Chinese, Lao, Khmer and Hindi with additional translations in development. Internationalization m m Security Audit Audit trails are maintained and multiple audit reports are included in the core platform. Authorization Customizable by job and by user . Client Messaging & Self-Service Operations Event-Based SMS Messaging Send automated event-based messages (meeting/payment reminders/receipts) to clients SMS Campaigns Set up, send, and manage the delivery and receipt of bulk SMS campaigns to segmented groups based on simple business rules and filters triggered by web hooks. Self-Service APIs Full set of self-service APIs to support the creation of client-facing web and mobile banking apps. Clients can authenticate themselves and perform the following operations: view own savings/loan account details, transfer funds between their own accounts, transfer funds to other clients at same organization, apply for new loan accounts, and repay loans. Android Field Operations App Mobile Field Tools & Processes Store & Forward Capability For field officers heading to remote areas, they sync their handheld device at the office, head out to the field to conduct business and sync upon their return to the office. Mobile Field Operations Via Tablet META X functionality on for field operations in the most remote areas. Mobile Money Integration Through its modular architecture and Payment Hub EE orchestration engine, META X supports mobile money integrations. Entity to Entity Mapping Define or modify old entity to new. System Migration & Configuration Tools Account Number Preferences Preference for generating account numbers for client, loan and savings accounts. Manage Hooks Define and configure web and code hooks. Scheduler Jobs Schedule a job, manually run, modify or delete batch jobs Global Configurations Set the organization's global configurations and cache settings. Codes are used in drop down fields and are customizable to organizational requirements. Manage Data Tables Add new fields to any entity for specific organizational requirements.