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2016-10-20 // FINCA UCO CJSC Has Run EGAR E4 Banking Credit Management Solution

EGAR Technology Group has completed the project implementing a credit line for individuals and legal entities on EGAR E4 Banking platform in one of the subsidiaries of the social investment partnership FINCA Microfinance Holding Company, LLC., namely in FINCA UCO in Armenia. FINCA provides lending services in all districts of the Republic of Armenia through a wide network of branches.

EGAR Technology Group conducts its business in the Republic of Armenia through an Ubtech partner company.

The purpose of the project was to optimize the lending process in FINCA, including the improvement of mechanisms of loan applications registration and the implementation of operational control over the process as well as achieving a new level of customer relationship management. In the course of the project the following problems have also been solved: creation of e-document flow and archiving tools, and upgrading the current reporting, which made the lending process more manageable and economical.

EGAR E4 Banking project has resolved the problem of decentralized operations at the branches, and offered financial institution all the necessary tools to manage and monitor the lending process; the project has become a pioneer in FINCA UCO in terms of the credit line solution implementation with prospects for its further extension to other subsidiaries of FINCA Microfinance Holding Company worldwide.

Vaag Kostandyan, Head of Business Development and Technology Innovation Department in FINCA, comments: EGAR E4 Banking solution has the optimal performance characteristics that are necessary to accomplish our goals of centralization and control of the lending process. The flexibility and expertise of EGAR Technology team were proved in addressing the problems arising in the course of the project, including those concerning the changes in the legislation and company's development strategy, as well as EGAR specialists expert knowledge of the company's loan products and technologies, made it possible to launch the system on schedule.

Rema Ohanyan, Senior Business Development Specialist, Project Coordinator at FINCA, adds: In particular we would like to note the efficiency of EGAR Technologys approach to the management of changes that occurred during the project implementation and were essential to ensure the full conformity to the legislation of the Republic of Armenia and the requirements of Central Bank.

Alexey Matukin, Deputy Director General, Head of Integration and Business Solutions Department at EGAR Technology, says: FINCA UCO is focused on a deep understanding of its customers and on continuous improvement of products and services with regard to demographic and socio-economic characteristics of the regions of Armenia. As a technology partner, we are pleased that the problems facing the company in the framework of the project were successfully solved.

EGAR E4 Banking is a sophisticated SOA platform solution for automation of a wide range of banking business processes and integration of applications that implement functions for front- as well as back-offices of the banking institution.

EGAR E4 Banking platform is used on the Russian market by banking institutions and financial companies of different scale and business specialization. The solution includes a suite of well-integrated modules to provide front-to-back automation of the retail banking operations when dealing with loans and deposits, support the operations of corporate lending, credit risk management, as well as activities of collection units.


CJSC FINCA is a universal credit organization, a subsidiary of FINCA Microfinance Holding Company, which operates in 23 countries of Eurasia, Africa, Latin America, the Middle East and South Asia. FINCA has a wide network of branches in all regions of the Republic of Armenia, thus providing more customers with access to the company's products.

FINCA offers lending services on the market, working with rural, consumer, and business loans. The company also welcomes and actively introduces innovative products developed in the framework of the project Financing agriculture in Armenia.

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