Musoni integrates with BankBI for automated financial analysis

We’re pleased to announce that Musoni has been integrated with BankBI, the leading cloud-based reporting and analytics software for microfinance. This integration makes it easier than ever for MFIs using Musoni to benefit from BankBI’s automated management reporting, financial performance and regulatory reporting software. 

Graham Goble, CEO of BankBI, stated: “we’re thrilled to have completed the integration with Musoni, now MFIs around the world can enable their senior management teams to make data driven decisions by delivering financial performance as a service. This includes automated software for daily financial performance reporting, what if strategic scenario planning, and daily loans and savings analysis.

Example of BankBI strategic planning & sustainability modelling

Musoni’s integration with BankBI was initially carried out for VisionFund Myanmar as part of their adoption of the Musoni core banking system in 2019. VisionFund International had already worked with BankBI in other countries so after selecting Musoni in Myanmar the integration was included as part of the original system implementation.

Over the last year the integration has been extended, with more than 80 different data points sent automatically from Musoni into BankBI each day. The integration itself is straightforward with data sent automatically to the BankBI servers each day. This has made the integration easy to replicate for other MFIs – the Musoni team are now completing the BankBI integration for other MFIs in the VisionFund network including VisionFund Montenegro and VisionFund Vietnam. 

Commenting on the integration in Myanmar, Tim Tempany, Program Director of VFM, stated: “BankBI complements the reporting capability of Musoni and allows executive management to get the data and insights they need without needing to directly access the core banking system. Before BankBI, our functional departments were on the receiving end of never-ending and always-changing information requests from executive management that often took hours and days to produce, frustrating both parties. With BankBI, executive management have direct access to an extensive array of actionable information. Rarely do our executive management team need a view of the data that they cannot get from BankBI, making both them and our functional departments happy.

Example of Bank BI Financial Position & Earnings Key Ratios

Praising the user friendliness of BankBI, Mr. Tempany added that “Navigating and using BankBI does not require a degree in data analytics. It has a simple and intuitive user interface. The visual representation of data that the tool provides often helps us reach conclusions and make decisions faster.

This has been more important than ever as MFIs navigate the disruptions to operations caused by COVID-19. Mr. Tempany concluded that “The trend analysis capability of BankBI has been really valuable to us in the early identification of risks and opportunities, enabling us to confidently make data-driven decisions. Ultimately it has been an invaluable tool during the COVID crisis, by providing timely insights that have ultimately enabled us to better manage our portfolio quality and continue to provide the financial services that our clients need at this time.

Example BankBI Executive Loan Dashboard

Cameron Goldie-Scot, Musoni’s CEO stated that “Partnering with BankBI is a perfect example of how microfinance organisations can integrate third party solutions into the Musoni platform. BankBI’s reporting engine will bring benefits to all of our partner MFIs, making it simpler for them to make data driven decisions and better manage their operations.

Any MFI using Musoni and interested in learning more about how they can also benefit from the automated integration with BankBI should contact their Musoni account manager. 

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