22nd Jan 2019 Back
On the 22nd January 2019, Fintech was able to once again have its Finfinancial system launched and GO LIVE at Sucoma Sacco in Malawi. The system helps to streamline lending processes by connecting MFIs 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
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 Malawi’s financial service industry for close to two decades providing other solutions such as core banking, leasing and digital banking among others