RAAS Microfinance has signed to launch the Musoni core banking system in Somalia to digitalise their existing manual processes. RAAS in accordance with their mandate wanted to focus on a system that could support its future expansion, and financially enable society with their product offerings.
With Musoni being cloud based coupled with Open APIs, a Digital field application and 10+ years of reliable delivery record across Africa and the world over, we emerged as one of the most cost-effective options for Raas MFI who were embarking on a core banking change with the vision of digital transformation.
RAAS MFI taking a technology-led transformation route is a massive stride in strengthening their competitive edge in the MFI sector in Somalia. Musoni will help the MFI be more agile, flexible, and scalable to achieve its business objectives while ensuring regulatory compliance across multiple jurisdictions.
Phyllis Njambi, Musoni Business Development Manager, said: “ We are absolutely thrilled to have RAAS MFI on board, our first customer in Somalia! The successful go-live of the RAAS MFI will create a solid digital foundation for them to strengthen their presence in Somalia. We look forward to supporting them as their client portfolio continues to grow.”
Mohamed Warsame Operations Manager RAAS Microfinance, said: “Musoni’s cloud-based core banking system will support our continued growth by efficiently and quickly launching our financial products which give us a chance in the competitive market we operate in. Musoni’s Open APIs is such an invaluable feature for integration purposes leaving us to focus more on providing an exceptional customer experience.”
About RAAS: RAAS Microfinance Institution has created a strong brand in the Financial Sector and continues to strengthen its presence in the market. The RAAS MFI envisions being a market leader through diversified products, wider distribution networks, strategic partnerships and affordable pricing. Visit RAAS at https://RAASmfi.com/
About Musoni; Musoni is the leading digitalisation partner for microfinance institutions around the world: We help organisations improve their efficiency and extend their outreach through a variety of fintech solutions. These include a cloud banking system, digital field application, mobile payments module, and client banking app. We have over a decade of experience and now support 70+ organisations in 25 countries. We take pride in our hands-on and personalised approach, with local teams in the Netherlands, Kenya, and Myanmar. Visit Musoni at https://musonisystem.com