Implementation of B2ng::FIN in Agat Credit (Uzbekistan)

CHALLENGE

After changing shareholders, Agat Credit set an ambitious goal – to completely update its IT infrastructure. This decision was made as a strategic step to:

• Adapt to modern financial market requirements
• Implement advanced technologies in financial operations
• Create an optimal microfinance experience for Uzbek clients
• Implement global best practices in microfinance

To implement this large-scale project, Agat Credit engaged several vendors, including CS company. CS’s main task was to implement the B2ng::FIN back-office solution.

SOLUTION

CS company proposed and implemented the B2ng::FIN back-office solution, which provides:

• Complete automation of credit processes and back-office operations:
  • Loan application processing
  • Credit agreement management
  • Full loan lifecycle management until repayment
  • Problem debt processing
• Generation of mandatory reporting for the Central Bank of the Republic of Uzbekistan
• Integration with credit history bureaus
• Configuration flexibility that allows Agat Credit to independently:
  • Configure various credit products
  • Introduce additional controls and restrictions in business processes
  • Change the system’s logic behavior
  • Generate reports on various indicators stored in the database
• Integration with other systems, both local and international

The implementation of B2ng::FIN became part of a larger project to update Agat Credit’s entire IT infrastructure, requiring coordination between various vendors and the Lotus Impact Finance team.

RESULTS

The successful implementation of B2ng::FIN in Agat Credit led to the following results:

1. Agat Credit became the first company in the microfinance market of Uzbekistan to implement an international technological core system solution.
2. The company achieved a new level of institutional maturity by creating a modern technology stack.
3. Compliance with reporting standards and risk management requirements established by the Uzbekistan regulator was ensured.
4. Back-office process efficiency and automation were improved.
5. A technological foundation was created for further development and innovation implementation in microfinance in Uzbekistan.
6. Numerous integrations with local and international systems were successfully completed.

Taras Leskiv, Project PM, CS:

The Uzbekistan financial services market is not new for CS company. Nevertheless, this was our first implementation in an Uzbekistan financial company. Thanks to the high professionalism of the team members involved in the project, we were able to transition Agat Credit to operating on B2ng::FIN in a short period. Additionally, I would like to thank the Lotus management team for coordinating interactions between different vendors and Agat Credit employees directly. Thanks to their work, we were able to implement this project within the specified timeframe and without significant changes to the scope of work and implemented functionality.

Manuchar Chitaishvili, CEO of Agat Credit

We are pleased to be the first company to implement an international technological core system solution in the microfinance market of Uzbekistan. This implementation has taken Agat Credit to a new level of institutional maturity, allowing us to create a modern technology stack and, most importantly, enabling us to ensure compliance with reporting standards and risk management requirements established by our regulator. We highly appreciate both the functionality and architecture of the core system, as well as the rich experience and professionalism of CS company employees. Thanks to Lotus’s assistance, we were able to successfully complete the project in the shortest possible timeframe.

Giorgiy Janelidze, Project Manager, Lotus Impact Finance:

Transitioning to a new system is always a challenging task, especially when creating a new technological infrastructure and needing to adapt to a new business model. Nevertheless, we managed to successfully complete numerous integrations, both local and international. Our collaboration with CS is invaluable. The CS team, consisting of highly qualified specialists with extensive experience, played a crucial role in the project’s success. Thanks to their expertise, work ethic, as well as commitment and cooperation with Agat Credit, we were able to successfully complete the project. Due to the dedication of all stakeholders, we achieved this efficiently and effectively, setting a new standard for this industry in Uzbekistan. I am proud of the work of our Lotus team, as their commitment and efforts also played a decisive role.

The successful implementation of B2ng::FIN in Agat Credit not only improved the company’s operational efficiency but also established a new standard for the microfinance sector in Uzbekistan, creating a foundation for further innovation and industry development.