How MicroCred transformed its business through technology

July 10, 2016

MicroCred (MC), one of the prominent microfinance institutions in Africa and China, went through significant transformation of their business using technology delivered by Software Group. Less than a year after deploying the android application designed for loan officers, MC reports improving of day-to-day processing, professionalism and better service delivery.

In June 2015 MicroCred deployed “Baobab Tune”, the fist component of a fully digital platform for their front-officers. The application is accessible to more than 550 loan officers in five affiliates of MicroCred and allows easy access to real time data from the core banking platform such as history of payments, client account balance, etc. As loan officers spend most of their time in remote areas, the new technology enables them to deliver better customer service experiences and more transparent services.

According to MicroCred’s research, after three months of using the app over 70% of the loan offers in the company confirm that they improved their daily working conditions while around 90% have more professional approach with their clients. Furthermore, 94% of the loan officers acknowledge that they can better manage their portfolio at risk. Reporting great success from the first stage of the digitalization transformation, MicroCred’s plan is to deploy the application to all of their 1500 loan officers as well as to adapt it to the branch managers and loan supervisors.

Software Group has been working with MicroCred since 2014 to help them deliver their multi-channel delivery platform solution across their network of microfinancing institutions. The project includes implementations in five of their African affiliates delivering solutions including Agency Banking, ATM integration, Mobile Money Integration, SMS, Loan officer mobile apps and Web Front End. The platform is deployed and operates on cloud environment utilizing the following SG products: UT Mobile, UT Net, UT Route, UT SMS, UT ID and UT Bio.

For more information about MicroCred’s digital transformation and their experience with the application here.