In developing nations around the world, many successful—but unbanked—businesses are unable to access the capital they need to take their growth to the next level. To bring simple, accessible and easy to use financial services within reach for more businesses, Baobab empowers entrepreneurs to apply for microfinancing loans online and on mobile. With digital services powered by the Temenos core banking platform, Baobab can process high volumes of transactions seamlessly 24/7, enabling it to offer loans, savings accounts and more to millions of potential customers.
“A robust and open back end is essential to innovation in financial services. It allows our systems to scale and remain nimble. This is what Temenos provides. We see a lot of other players with very interesting new technologies but struggling to move from one successful operation to a global multi country operation at scale. When Microcred decides to move into a different direction or change markets, it’s not a question of more implementation but a simple configuration in the back end.”Denis Moniotte, Chief Innovation Officer and CTO, Microcred
MicroCred reinforces ten-year Temenos relationship with new license deal to support global retail growth strategy.