Fintech has unveiled a new technology on the market dubbed Finfinancial system which was launched at Sucoma Sacco in Malawi on the 22nd January 2019.
The system helps to streamline lending processes by connecting Micro Financial Institutions and Saccos to the integrated national payments platform so that their clients can enjoy digital payment systems which will effectively be passed down to consumers and result into increased access to financial services
Microfinance Institutions (MFI) Hub CEO, Joseph Mayenda said the coming on
board of Sucoma Sacco increased the number of institutions on the MFI Hub
system which targets 60 firms by the end of December 2019.
He continued by saying, “The hub enables the automation and digitization undertaken cost effectively and brings about economies of scale by adopting a shared platform thereby significantly reducing barriers to automation. Saccos in Malawi will now operate under a platform similar to World Council of Credit Unions (Woccu) in Kenya. These solutions come with mobile savings and lending, integration to national payments switch, MNOs, Immigration, CRBs, traffic department and more”
Fintech International has been serving Uganda’s financial service industry for close to two decades providing other solutions such as core banking, leasing and digital banking among others
About Fintech
Fintech is a leading ISO 9001.2008 certified enterprise information technology solutions and services provider with 5 operations across Africa; Kenya, Malawi, Mauritius, Uganda and Zimbabwe. Since 1993, it has been providing cutting edge solutions and services in various.
