T24 News

Microcred Group has renewed its licensing agreement with Temenos and its software, MicroBanking Suite.

The financial inclusion firm, which operates in Africa and China, has been a customer of Temenos for more than 10 years, but has signed a new deal that will underpin its ambitions to grow into 17 new countries by 2020.

MicroBanking is an integrated banking software suite supplied by Temenos. It promises “world-class banking capabilities” for banks and firms with limited scope and resources. It includes Temenos’ T24 core banking solution configured with a layer of microfinance applications.

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,” says Denis Moniotte, Chief innovation Officer and CTO  at Microcred. “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.”

Murray Gardiner, Business Director for Microbanking at Temenos, says that the deal represents the “strength” of thepartnership between the two firms as well as the ability of Temenos solutions to scale and grow with the needs of its clients.