Financial Inclusion Organization “Crystal” has moved to a new stage of digital transformation. As part of the digitization strategy, the company has successfully implemented ALTA software – a core banking system for business process management (BPM).
New software package, which replaced Crystal’s legacy MFI core software (LoanKeeper), is thoroughly compatible with local business and banking regulatory requirements. ALTA is more flexible platform, allowing Crystal to offer its customers innovative, diverse, and competitive financial products and services. Furthermore, the system enables company to develop more sophisticated credit products, and customer service processes, introduces new convenient banking/non-credit products which Crystal’s legacy MFI core software lacked. Software will be effectively utilized to create new projects that will contribute to the advancement of small and medium-sized businesses, thereby to bolster entrepreneurship.
In addition, Crystal has successfully completed migration process of its 120 000 customers’ data and all existing products. Recently integrated software greatly simplifies internal work processes for the company’s staff, which in turn enables Crystal to offer more diversified service to its customers.
“Providing advanced services and products to customers are challenging to manage without upgrading and modernizing technological processes. Bringing innovative digital perspective that leads the transformation of the company is our main priority. The company will benefit of a flexible financial software, which will allow Crystal to develop and get ready for the new stage of operations,” said Ilia Revia, Chief Executive Officer of Crystal.
Implementation process of the new software in Crystal started at the end of 2020, including system introduction, testing, adaptation and modification of processes and products, data migration, and other technical milestones.
All the way along, the company has been actively cooperating with reputable local software vendor – Alta, one of the largest software providers in the banking sector.
JSC MFO Crystal (‘Crystal’) is the leading financial inclusion organization and the largest by assets non-banking financial institution in Georgia. It manages the loan portfolio of GEL 364 million, employing more than 1,000 members of staff, operating through 49 branches, and serving more than 120,000 unique customers across Georgia. Crystal acts as a platform for economic development providing micro and small entrepreneurs and farmers with innovative financial products and services. Crystal is the first Fitch-rated non-banking financial institution in the region. In December 2018, Crystal received nation’s responsible business award “Meliora “.