MTN XaaS Enables Microfinance Institutions-Adebayo

Since the launch of MTN XaaS: Micro-Banking Software as a Service, a cloud-based platform that enables micro-banking operations and financial intermediary collaboration, more and more microfinance institutions are readily adopting the service and are also testifying to its efficiency.

The latest to join the rank of customers who have had positive remarks to make about the micro-banking software is Alhaji Mustapha Adebayo, managing director, Ibolo Microfinance Bank Limited, Offa, Kwara State.

Speaking recently at a conference of the National Association of Microfinance Banks (NAMB), Ilorin Chapter, Adebayo described MTN XaaS as being very fast and as the best of all the software solutions he has used, adding that the solution provides remote access and authorization to carry out transactions.

The microfinance boss went on to narrate how, when he travelled to Saudi Arabia in 2013, he was able to approve a transaction seamlessly by logging in remotely to the platform.

“I really felt good knowing that I could log in from Saudi Arabia and query transactions being done in Nigeria; it gave me a sense of control and authority,” he stated.

This further underpins the customer value proposition of the solution as being a service platform that efficiently enables the delivery of micro-banking and financial operations anywhere from the security of the MTN Cloud.

According to Mr. Babatunde Osho, chief enterprise solutions officer of MTN Nigeria, “this means that microfinance banks (MFBs) can save costs and become more profitable by being able to deliver efficient and better customer experience.

“With our cloud-based microfinance software solution,” continued Mr. Osho, “MFBs do not have to expend large sums of money on computing costs, such as licenses, servers, server room, and so on, typically associated with procuring banking software.”

In a similar vein, Mr. Austin Okere, group chief executive officer, Computer Warehouse Group (CWG) Plc, affirmed that “MTN XaaS: Micro-Banking Software as a Service provides microfinance banks an affordable platform through cloud computing that does not needlessly tie their capital in expensive ICT infrastructure since it is offered on a subscription model, nor does it eat into their OPEX.”

MTN XaaS: Micro-Banking Software as a Service was launched on 17 October 2012 by MTN Business, the business-to-business arm of MTN Nigeria, in collaboration with Computer Warehouse Group, with a view to transforming the way microfinance banks and institutions operate, empowering them to serve Nigeria’s unbanked and financially underserved population more profitably.