Following on from winning the BBVA Financial Inclusion Special Award in August, we’re very excited to announce that Musoni has also won the BBVA OpenTalent Award 2016. This award was aimed at Europe’s leading young fintech companies and over 1,200 applied. Musoni was chosen as one of two winners after each of the 20 finalists presented their solution at Next Money London.
As winner, Musoni receives a €30,000 prize and will join the BBVA team on a two-week program in Mexico City and Madrid. During this immersion program, we’ll get to know and engage with the entrepreneurial ecosystems in each country and meet with BBVA executives, with the goal of rapidly expanding into new markets.
Speaking at Next Money London, Musoni’s CEO, Cameron Goldie-Scot said: “Winning the BBVA OpenTalent Award is a huge privilege for Musoni. Our goal is to revolutionise the financial sector in the developing world, and in doing so transform the lives of the millions of people with limited access to financial services. It’s fantastic to be recognised by BBVA for what we’ve achieved so far. This is just the start though. We’re incredibly excited about the immersion programme in Madrid and Mexico City, and looking forward to exploring different opportunities to collaborate with BBVA, in particular as we look to expand into Latin America.”
Marisol Menendez, Open Innovation Manager at BBVA, said: “BBVA wants to be part of the financial industry transformation and Musoni is contributing to this revolution by approaching microfinance to the unbanked population. With this award, we hope that together we can contribute to boosting the financial inclusion around the world.”
Read the full press release from the BBVA OpenTalent team here.
About Musoni: Musoni (musonisystem.com) is a multi-award winning core-banking system used by more than 70 organisations in 14 countries around the world. The software has been consistently proven to help financial organisations improve efficiency, reduce costs, and expand outreach into the rural areas where the majority of the unbanked live. Aside from the core banking functionality, Musoni has pioneered the use of new technology in microfinance, and as such is integrated with multiple mobile money transfer services, includes an SMS module for the sending of automated payment reminders, a tablet app that loan officers can use for offline data capture, a mobile banking app for clients and credit scoring to improve lending decisions. Musoni therefore helps financial organisations to leverage the latest technology sweeping across Africa, but at a fraction of the cost associated with traditional banking systems.