Deal is part of its move from microfinance into retail banking

Deal is part of its move from microfinance into retail banking

Microfinance entity Microcred has chosen BankBI’s business intelligence software applications as part of its move into retail banking.

As reported last year, Microcred said it plans to become a fully-fledged retail bank and grow its presence from nine to 17 countries by 2020. It has opted to keep its long-standing technology provider, Temenos, and upgrade to a single instance of the vendor’s flagship system, T24. It will be operated from Dakar, Senegal.

BankBI says its software is deployed in Microsoft Azure and has pre-built integration to Microcred’ s existing accounting applications and the T24 core banking system.

Denis Moniotte, CIO and CTO at Microcred, says: “What impressed us about the BankBI solution was how rapidly they deployed a proof of concept using one of our African entities. In a very short time they demonstrated the ability to load current data along with history and provide pre-built reports, dashboards and analysis out of the box.”

Hi to BankBI

There have been two other notable deals for BankBI.

Last month, Our Community Credit Union (OCCU), a $328 million institution in the US state of Washington, chose BankBI’s financial and banking performance software. This is the first US credit union to have signed for BankBI’s business intelligence and analytics software.

While in 2016, VisionFund International (VFI), the microfinance arm of World Vision, selected BankBI’s cloud-based business intelligence and analytics solution.