Dedicated To The Development Of Highly Functional Fintech Softwares…
After the boom of internet services as well as the advent of technology, the fintech market has caught a rapid pace in the past five years. Especially for Indian markets, fintech adoption has boosted spectacularly, posing a brighter future for its economic growth. No doubt, fintech has become the most sought-after industry for its rapidly growing rate.
With banking and financial institutions making considerable investments in tech adoption in the form of low-cost customized products, fintech companies have etched a niche for themselves to go above and beyond. And this is where Elioenai Technologies pitches in with its unique product portfolio and bespoke solutions. Libin John is the founder and CEO of the company managing all the essential operations based on his in-depth industry acumen and expertise.
Indeed, his leadership has propelled the company to develop state-of-the-art software products that are highly compatible, easy to integrate, and user-friendly in their functioning. We are in a freewheeling conversation with Libin John who happened to walk us through different aspects of his business venture while sharing his vision for the future of the industry as well as his company’s alignment with it. Hence, read out his full story to get to know what compelled us to highlight his story in this edition.
Company at a glance
Elioenai Technologies is Kerala based web application provider, particularly for financial institutions. Today, it claims to be a pioneer in providing extremely user-friendly fintech software for financial institutions that are involved in Nidhi business. It began its exemplary entrepreneurial voyage in the year 2011 and now emerges as one of the leading players in the fintech space.
The products offered are customizable as per the client’s requirements into the systems like real-time mobile systems, SMS, and Email systems. Nidhi software is an exclusively developed fintech solution for businesses involved in Nidhi business for automated posting of business data to the accounts module.
Apart from this, the fintech company also develops a comprehensive software tool kit for the seamless functioning of business operations. Also, a revolutionary mobile application developed by Elioenai Technologies in 2017 has shoved the needle in the industry grabbing eyeballs.
Flagship product- Chit fund management software
The company has also been involved in offering efficient chit-fund activities management software that is accessible from anywhere and is their flagship offering. Chitty Software is their one-of-a-kind chit fund management product that supervises and handles the operations of Chit management companies.
One can seamlessly work on various kinds of chit projects with the help of this software accessing it through a web browser anytime anywhere. As per Libin John, “The software incorporates all the specific details and rules as per the Kerala Chit Fund rules and easy procedure for chit registration.” From calculating and monitoring late fees to measuring the interest rate for the customers, to provision for installment receipts, canceled payments, payout receipts, and printing, it is adept at performing it all.
Its primary modules include Office Management, Daily Collection Management, Accounts Management, Statutory reports, chit balance sheet, suit module, MIS module, SMS intimation module, and Reports Module. Being the official channel partner for all Kerala chit funds associations, they are in constant pursuit to provide high quality and sophisticated chit-fund management applications as well as their amelioration with time.
About the Nidhi Software
Nidhi software comprises a variety of modules such as a Savings Account module, Daily Deposit module, Recurring Deposit module, a Fixed Deposit module, a Loan module that manages and handles different types of loans, and an Accounts module that handles all the accounting requirements of the financial institution and Report module that has all the detailed reports of every other software module.
This software happens to be one of the most successful fintech software for microfinance organizations. The product was developed as well as launched in 2015. Since then, it has been installed for over 63 Nidhi companies so far.
Innovation is in the DNA
When it comes to developing perfect, finite, and smart solutions, Mr. John who is an MCA, asserts that innovation
is the key game changer for their organisation’s meteoric success. If they had been able to create long-term relationships with their clientage while contributing to their business success, then their innovative streak has created a difference in this direction.
Well, to stay ahead of the curve in this fast-paced digital age, walking the untrodden road is the key to gaining resounding success and innovation is what offers them that unexplored avenue.
The future outlooks
When questioned to reveal his future endeavors in terms of product line development, the Founder replied that his team will soon develop an upgraded product-line for financial organizations to be launched by the end of 2023. With the introduction of cutting-edge tech trends like AI, ML, Blockchain, etc, in their product line, they will soon assert their dominance in the market.
It has been estimated that the inclusion of the new age tech trends would prove effective in fraud prevention, evaluating the risk factors, and measuring economic growth and overall data to prepare a direction towards a radiant future ahead. Hence, the inclusion of modern-day tech advances is on the bucket list that will prove to be beneficial for them.
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