February 29, 2024, Cabanatuan City: In a bid to bolster their IT infrastructure and pave the way for future-ready solutions, the teams from the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and Alalay Sa Kaunlaran MFI (ASKI MFI), iSynergies Inc., and Infivex IT Solutions, recently convened for a collaboration meeting. The discussion centered around assessing ASKI MFI’s current IT setup and charting a roadmap for enhancements.

A major focus of the discussion was on the assessment of ASKI’s IT infrastructure, which predominantly relies on in-house solutions provided by iSynergies, a subsidiary of ASKI established in 2012. Despite significant advancements such as the development of a Loan Management System (LMS) during the pandemic to facilitate online operations, challenges persist, particularly in areas like loan collection and renewal processes.

Addressing the infrastructure components, the discussion touched upon network servers, firewall setups, and server configurations, emphasizing the need for upgrades and the adoption of cloud-based solutions to enhance scalability and resilience.

Looking ahead, the teams outlined a series of goals aimed at modernizing ASKI’s IT ecosystem. These include the development of online loan applications and mobile apps, the integration of digital payment solutions, and a roadmap for hardware and software upgrades. Additionally, ADFIAP’s open finance initiative partner, Infivex IT Solutions Inc., will conduct an independent assessment of current systems planned to identify weaknesses and recommend solutions for a more robust infrastructure.

The collaborative efforts between ADFIAP and ASKI underscore a commitment to leveraging technology for sustainable development and financial inclusion. With a clear roadmap and actionable strategies in place, efficiency and innovation in the realm of financial services under ADFIAP’s open finance initiatives can easily be achieved.