Eban Capital Restricted, a Ghanaian Fintech, and its expertise companions, have rolled out the primary part of the Built-in Software program Platform (ISP) for Micro-Finance and Small Loans Centre (MASLOC) to start a brand new strategic improvement.
The companions – Temenos SA, Inlaks and Wizarpos Worldwide of Shanghai China – helped in beginning the brand new platform geared toward remodeling MASLOC into a completely digital enterprise with enhanced capabilities.
This may allow it to ship on its mandate and produce its operations abreast with latest world technological developments.
A press release from Eban Capital stated the ISP was secured by way of an settlement with Eban Capital Restricted and it might assist the working of all operations of MASLOC throughout its 216 newly established district centres, the regional workplaces, and Head Workplace.
It stated the ISP had been a key function of the strategic improvement plan of MASLOC for the previous 18 months, including that inner processes and operations of the Centre’s departments have been built-in on the ISP as a part of the deployment of the primary part.
The assertion stated the mixing of the departments’ inner processes was to introduce effectivity into MASLOC’s operations together with the much-desired enchancment in loan disbursement and compensation in collaboration with ARB APEX Bank.
It stated as a part of the enhancements, prospects and purchasers of the Centre can be issued with biometric playing cards interfaced with biometric point-of-sale gadgets all linked to the platform by way of ARP APEX Bank.
The second part would cowl the event of on-line enterprise options together with Cellular App for Android/iOS/Internet entry for all classes of MASLOC prospects.
It will guarantee a very paperless course of for a loan software, credit score administration, disbursements, and repayments, it stated, including that loan officers shall be assigned to every applicant based mostly on their location (area and district) utilizing their digital addresses.
The assertion stated on the launch of the ISP, Mr Jim S. Amegah, the Chief Government Officer of Eban Capital Ltd, shared the Firm’s want to assist the digital transformation of Ghana’s economic system with the stakeholders current.
“We found a great opportunity for partnership in MASLOC’s desire to integrate their entire operations. Our promise of ‘real partnership’ is hinged on our commitment to supporting efforts by governments and other actors to reduce poverty, increase the population, which can assess financial services, provide employment and the attainment of a cash-lite economy among others using our globally integrated financial services platform,” Mr Amegah was quoted as saying.
“This makes us best positioned to support MASLOC’s agenda and to provide impetus towards unprecedented socio-economic growth in Ghana and Africa where our programmes would ensure the Continent achieves at least five out of the 17 Sustainable Development Goals (SDGs)”.
Vice President Dr Mahamudu Bawumia, launching the ISP, expressed delight that such an important side of the Ghanaian SME sector had embraced trendy expertise and the usage of ICT in service supply.
That will place MASLOC ready to reply appropriately to the altering world order arising from the results of Covid-19, he famous.
“The implementation of what we can call the ‘MASLOC Card’ could not have come at a better time. It will make public sector service delivery and the administration of credit schemes simpler and effective.”
Ghana, earlier than the outbreak of the Covid-19 pandemic, had taken a choice to aggressively pursue digitization.
Mr Stephen Amoah, the Chief Government Officer of MASLOC, indicated that with the ISP, MASLOC was poised to delivering on its goal of offering funds to SMEs, particularly the unbanked prospects who kind a higher proportion of the casual sector of the economic system.
He defined that candidates have been anticipated to obtain the outcomes of their functions inside 24 hours with the brand new platform.