We are delighted to let you know that Community Economic Ventures, (A Microfinance NGO) Inc (CEVI) serving over 65,000 clients in the Philippines has taken up the Musoni System as their new core banking system. This will be the second financial institution in the Philippines to use Musoni.
CEVI is a christian organisation, which creates value for their customers by providing financial and technical assistance to micro-entrepreneurs engaged in trading, manufacturing, agriculture, and service-type businesses.
To continue the mission of serving the unbanked population, CEVI needed a core banking system that could help them digitalise their operations, integrate with third-party solutions and a system that could assist with their field office operations. They were also looking for a cloud-based system as their current system was on-premise and the infrastructure costs were becoming unsustainable.
By adopting the Musoni System which is a cloud core banking solution, CEVI will be able to adopt the latest technology more efficiently and quickly, while also leveraging the Musoni’s open APIs which will make it easy for CEVI to integrate complementary digital channels into the core banking system. The Musoni Digital Field Application designed for field officers will help them to conveniently reach clients in rural areas more quickly and efficiently.
CEVI is a partner of the VisionFund International and Musoni System has been a recommended cloud core banking partner to organisations in the VisionFund network. Previously, Musoni has successfully supported VisionFund microfinance institutions in Myanmar, Guatemala, Philippines, Montenegro and Vietnam.
CEVI has already helped transform the lives of thousands of families by helping them clients access credit, build up capital, micro-insurance and savings, and this partnership with Musoni System will help them push their vision forward quickly and at a larger scale.
Maros Parreno Apostol, CEVI Executive Director, said: “Cloud technology has transformed much of the economy, and with our on premise solution we were lagging behind. Partnering with the Musoni is the best decision for us now and for the future. Their core banking system will make it quicker and easier for us to serve our clients, bringing us one step closer to our mission of a better future.”
Wai Zin, Musoni’s Head of Digitalisation in Myanmar, said: “We have built an award winning cloud banking system which our clients can tap into as they build future-proof banking solutions. The Philippines is a core market for Musoni, and we look forward to working with CEVI to realise the goal of creating solutions that help transform the lives of thousands of families.”
About CEVI: CEVI is a sustainable microfinance institution that aims to promote transformation in the lives of poor families and communities through the provision of appropriate microfinance services with values formation, training, and consultancy for more than 20 years now.
Visit CEVI at https://www.cevi.org.ph/
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 75 organisations in 22 different 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