Microfinance And Community Banking

Overview

The microfinance and community banking industry includes many non-bank financial institutions (FIs), credit unions, co-operative banks, building societies, smaller commercial banks and specialised institutions that focus on providing mass-market retail financial services. It also includes many major banks that recognise the strategic value of extending their reach to new customers in the developing world. This market is growing worldwide and has enormous commercial potential. 

But how do you provide a quality service while controlling costs?

Temenos has supported this market for over ten years. We have a deep understanding of the specialised needs of this sector and offer a solution to meet your immediate requirements and strategic objectives.

T24 provides a pre-configured model bank based on microfinance and community banking best practices, with all the business benefits that the world’s most popular banking package offers.

The T24 microfinance and community banking model has been successfully deployed at 117 microfinance and community banking sites across 41 countries.  These include large complex commercial banks that also provide microfinance products, small NGOs and financial cooperatives, non-banks MFIs with in excess of 1 million customers and network organisations such as Opportunity International, ACCION and MicroCred.  All of these institutions chose T24 because of its functional richness and flexible architecture and selected Temenos as a strategic partner because of our ability to promote sustainable growth in this vibrant and diverse sector.

In-house or in the cloud, T24 is available as either a packaged or an internet cloud based software-as-a-service (SaaS) business solution. It is the first core banking system to be available in the public cloud, running on the Microsoft Windows Azure platform. By providing T24 on a pay-per-use basis (per account per month), or a SaaS business model, financial barriers are removed and smaller FIs can enjoy the benefits of T24 core banking at a price that is affordable to smaller institutions.

In 2009, Temenos and Microsoft entered into a strategic partnership to deliver T24 on the Microsoft Windows Azure cloud platform providing institutions across the globe access to basic financial services. For more information, please click here.