Continual KYC monitoring of LOTUS20-registered MSMEs. All payee and invoice information disclosed to applicable financial institutions to support prompt, safe and regulatory compliant payments for invoice settlement.
LOTUS20 applications over Android for fieldworkers and local MSMEs to enable the safe issuance and redemption of e-wallets. Offline capability ensures LOTUS20 can operate in the most challenging environments.
LOTUS20’s SMART programming function enables NGOs to monitor and adjust programming output at any stage to ensure programme objectives are achieved.
LOTUS20 can provide rich digital reporting in real-time. Anonymous transactional data can be accessed via client portal or received via secure files. Dashboard templates (using Power BI) are used to report and monitor programming output and MSME performance.
Terms and conditions, including pricing, are agreed between the NGO and local MSME over the LOTUS20 platform. LOTUS20 then locks-in those terms and generates an e-contract between the two parties. Item/service pricing can be renegotiated and automatically updated in the e-contract to manage inflation volatility.
To settle MSME invoices generated by LOTUS20, a secure payment file can be submitted to the NGO, or directly to the NGO’s bank for review, approval, and execution.
LOTUS20 uses sector-leading digital compliance tools to support sanction, anti-money laundering (AML) and counter-terrorist financing (CTF) controls. This technology reduces the workload for NGOs whilst ensuring regulatory and donor compliance.
