Musoni proves its efficacy by contributing to another organisation’s growth

Musoni proves its efficacy by contributing to another organisation’s growth

Musoni, a cloud-based, core-banking system contributes to EBO SACCO (EBO) growth within the past year. EBO SACCO (EBO), one of the largest SACCOs in Western Uganda, serving over 20,000 clients across five branches and dedicated to providing high quality and sustainable financial services in rural & peri-urban areas, has adopted Musoni in 2016. Before that, the organisation was constantly challenged with poor branch interconnectivity which prevented them from providing high quality services to their clients. The decision to implement Musoni’s system has been justified. Since going live on Musoni EBO have seen impressive growth. In under one year client numbers have grown from 19,000 to 24,000 (+24%) and loan portfolio has increased from €2.8MM to €4MM (+40%). The value of savings under management has also increased from EUR 1.3MM to EUR 2.1MM (+50%) Explaining EBO SACCO’s rapid growth, Joseph Mgume said “Musoni is one of the best systems linking financial inclusion and microfinance. I would definitely recommend Musoni to any organisation looking to use advanced technology as an enabling factor for growth.” About Musoni Musoni is a cloud-based, core-banking system used by organisations all around the world. The software has been consistently proven to help financial organisations improve efficiency, reduce costs, and expand outreach into the rural areas where the majority of the unbanked live. Aside from the core banking functionality, Musoni has pioneered the use of new technology in microfinance, and as such is integrated with multiple mobile money transfer services, includes an SMS module for the sending of automated payment reminders, a tablet app that loan officers can use for offline data capture, a mobile banking app for clients and credit scoring to improve lending decisions. Musoni, therefore, helps financial organisations to leverage the latest technology sweeping across Africa, but at a fraction of the cost associated with traditional banking system]]>

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