1. What services does Musoni provide?

Musoni is a microfinance software company that supports MFIs and SACCOs with its innovative and award-winning microfinance platform, the Musoni System. The system encompasses field-based data capture, mobile money integration, SMS communication with clients, and automated credit checks, all built around a user friendly and secure MIS incorporating microfinance best-practice functionality and workflows. In particular, the system includes the following modules:

  • Client Management
  • Group Management
  • Loans
  • Savings
  • Accounting
  • Reporting
  • Mobile Money Integration
  • SMS Module
  • Configuration
  • Access management & Permissions

You can learn more about the key features of the Musoni System here. We do not offer financing or loans to prospective borrowers.

2. What are the advantages of using a cloud-based system?

As a cloud-based system, with Musoni you never need to worry about storage, server maintenance or backups again. Large upfront investments in hardware and the ongoing costs of maintaining your hardware are things of the past. Whether you are a small organisation serving 1,000 clients, or a larger one serving 100,000, we take care of your storage and hosting for you. As a matter of fact, IDC predicts that cloud computing in banking will transform the industry in a few years, as regulators update policies to address technology partners.

3. How secure is my information?

Working with AWS, one of the leading hosting providers in the world, ensures the Musoni servers are protected by state-of-the-art antivirus software, hardware firewalls and physical security measures. Musoni follows the ISO 27001 Information Security Management Protocol, which is a comprehensive international industry standard. Furthermore, Amazon Web Services’s controls and safeguard processes are accredited and certified and include: SOC 1, SOC 2, SOC 3, FISMA, DIACAP, and FedRAMP, DOD CSM Levels 1‐5, PCI DSS Level 1, ISO 27001, ITAR, FIPS 140‐2, MTCS Level 3, HIPAA, Cloud Security Alliance (CSA), Motion Picture Association of America (MPAA). You can read more about the different security measures taken by AWS or review their security white paper here. Access to the Musoni System itself is controlled through secure HTTPS connections (SSL Certificates). You can also use our advanced permissions module to completely customise the access and viewing rights of individual users. Each MFI can configure how frequently users are required to change their passwords, the complexity of passwords and how long the system remains open before automatically logging out (in cases of no activity).

4. What are the minimum requirements to use the Musoni System?

Due to the hosted nature of the system, requirements and investments in local IT equipment can be minimized. All you need to access the system is a computer with a modern web browser and an internet connection (preferably 3G or DLS connected). We work with many organisations in rural areas, and have specifically built the system to be fast in low-bandwidth environments. Data exports and imports from the system can be done in PDF, Excel or CSV. It is recommended to install software that can handle these formats such as Adobe Reader (free), OpenOffice (free) or Microsoft Office.

5. Where is the Musoni team based?

Musoni Services has a knowledgeable core team, with extensive experience in IT, microfinance and in introducing new and innovative technologies into microfinance operations. The majority of the Musoni Services team is based in Amsterdam, and our Nigeria office was opened in September 2015. You can read more about the Musoni team here, and the Nigeria office here.

6. Can the Musoni System accommodate e-payments?

Yes. The Musoni System has already been integrated with multiple mobile money transfer services including M-PESA, Airtel Money, Payway and MMT Aggregators including YoPayments in Uganda. As a result of this Musoni has successfully processed over two million MMT transactions in the last five years. In Nigeria, Musoni is already in talks to integrate with local mobile money platforms. This integration would give clients access to vast mobile and e-payment capabilities, as well as access to ATMs and POS machines.

7. Where does Musoni operate?

While the Musoni System can be used in any country, the company currently supports MFIs across Kenya, Uganda, Tanzania, Zimbabwe, Zambia, Malawi, Lesotho, Papua New Guinea and Myanmar. The Musoni System is used by over 40 MFIs across Africa and we are happy to provide specific references on request.

8. How can I get a demo of the Musoni System?

If you’d like a complete in-person or online overview of the Musoni System, send us an email at info@musonisystem.com. Alternatively, you can request a demo here.

9. How much does the Musoni System cost?

Musoni’s pricing is based on the number of clients in your organisation, ensuring our success is linked to yours. Our offer is €3 per client, per year. This makes things simple, transparent and affordable. For larger MFIs we’re happy to put together customised pricing packages. If you’d like to find out more send us an email at info@musonisystem.com or give us a call on +31 (0) 207894735.

10. What type of support does Musoni provide?

Our dedicated support team provides full time support over email, phone and skype during Dutch working hours. Typically, questions are responded to within minutes. Whether you’d like to be taken through a specific bit of functionality, would like to arrange a training, or have run into a problem, we’re on hand to help.

11. How quickly can I get started?

If you do not require a data migration and would like to get started with a completely clean version of the Musoni System, then we can get you up and running today! MFIs requiring data migrations typically go live within 2-4 weeks following contract signing. This gives plenty of time for training and testing and ensures your whole team can hit the ground running.

12. Can I send SMS messages straight from the Musoni System?

Yes. The Musoni System SMS module enables you send personalized messages directly to clients either for marketing purposes, or simply to follow up on clients in arrears (our research indicates that PAR can be reduced by 50% through the use of payment reminders). You can watch a video tutorial on the Musoni SMS module here.

13. Does Musoni provide a tablet app for loan officers?

Yes! We are leaders in this space. The Musoni App (Android) integrates seamlessly with the Musoni System, and digitalizes the core processes carried out by field officers, who previously relied on time-consuming and error-prone paper forms. The app can be used in both online and offline mode, enabling loan officers to work in remote areas with limited connectivity (making it easier to reach the unbanked in rural areas). A recent impact assessment of the Musoni App, carried out by Accion International, concluded that the app increased loan officer efficiency by 68% and resulted in an increase in income of $86,000 in its first year of use. You can read more about the Musoni App here.