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Home » Industry News » Details
07 Oct 2011
SAGARIKA SAMAJ UNNAYAN SANGSTHA and Southtech Sign New Contract For Ascend Banking (MFV)
DHAKA, 7 August 2011: Southtech Limited and SAGARIKA SAMAJ UNNAYAN SANGSTHA (SSUS) today have signed an agreement to automate its 16 branches and the Head Office with Southtech Ascend Banking (MFV).

The implementation will be rolled out in three phases; first phase implementation shall be rolled out in 5 branches followed by 11 branches in the second phases and head office consolidation in the third phase.
Built with the cutting-edge Microsoft Technology, Southtech Ascend Banking (MFV) is a sophisticated solution that automates most processes of micro credit and savings starting from member admission to member retirement, including unique insurance and incentives modules for microfinance institutions (MFIs). It allows an MFI to efficiently manage all loan and savings related activities and significantly reduces its administrative and operational costs. The web-based Head Office Module is capable of consolidating branch data and can produce all regulatory reporting prescribed by PKSF, in addition to CGAP and SEEP recommended reporting.
Southtech Limited is a Gold Certified Partner of Microsoft and an Oracle Partner. It is also a CMMI Level 3 appraised and an ISO 9001:2008 certified Software Company. Ascend Banking has been independently assessed by World Bank affiliated CGAP and rated as one of the best. It has been installed in a host of different MFIs including BRAC, BEES, IDF, PBK, DISA, SAJIDA Foundation, RDRS Bangladesh and SOS.
SAGARIKA SAMAJ UNNAYAN SANGSTHA (SSUS) is a prominent local based organization working for the at risk people of Noakhali Coastal areas. Late Fazlul Haque was the founder of SAGARIKA SAMAJ UNNAYAN SANGSTHA (SSUS). He has been established SSUS based on the 70’s devastating cyclone hits in 1985. After its establishment SSUS has been working on Disaster risk reduction of coastal area. 
SSUS initiated its activities within the various chars of mainland named Charbata, Char Laxmi, Char Jublee, Char Jabber, Char Majid, Char Mohiuddin, and Char Moradona. SSUS worked these areas for people capacity building; Disaster awareness; help the people to get land settlement; various livelihood supports; No interest loan etc. It is remarkable that SSUS was the key role player of Khas land distribution process of char Majid and Char Moradona. 
SSUS advocacy for the government long term initiative to the coastal Noakhali and finally government has been taken CDSP (Char Development Settlement Project) in assistance of Royal Netherlands Government 1995 and SSUS is still the partner of this program. The project started from Char Majid, Char Mohiuddin and Char Laxmi and it is now working in Boyer char.
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