We’re proud to announce that Standard Life Organisation (SLO) has launched the Musoni Digitial Field Application. SLO went live on Musoni in August 2020, making this the fastest launch of the DFA for any organisation so far, and a sign of their commitment to ongoing digitalisation. The DFA is now used by more than 200 loan officers across the organisation.
SLO is a Nigerian microfinance institution aiming to empower economically disadvantaged women through capacity building and financial support. In addition they provide free educational scholarship to clients’ children and offer free health outreach. Since inception, SLO have impacted more than 500,000 lives. They now provide services to 50,000 clients across 4,500 groups and 68 branch offices in 12 Nigerian states.
SLO chose Musoni as their core banking system in order to further digitalise their operations. Adopting Musoni makes it easier for them to extend their digital channels, increase transparency for customers, and enable their loan officers to better serve customers in the field.
Speaking about the launch of the DFA, the Executive Director of SLO, Mr. Oyegue Osazee, stated that “our field staff can now carry out transactions related to data entry, loans and account management seamlessly. The Musoni DFA is capable of operating in both online and offline modes, making it perfect for use in rural areas with limited mobile data connectivity. With the use of this technology, we now replace the costly and cumbersome paper forms, previously used for client and group registrations, loan processing and credit scoring. This will save approximately Naira 800 for every new member to be registered.”
Melissa Hoffmann, Musoni’s Head of Africa, added: “We are very excited to have SLO as one of our newest customers in Nigeria. They’re an excellent organisation that has consistently worked to empower marginalised communities. We look forward to helping them on their digitalisation journey over the coming years. Launching the DFA is just the start – our goal is to continue offering new channels and services to their customers, improving efficiency and the customer experience.”
About Standard Life – SLO was established by their now Executive Director My Oyegue Osazee in February 2010. They are an NGO-Microfinance Institution committed to the social and economic empowerment of low income, poor and vulnerable women through access to capacity building and responsive financial services on a sustainable basis. It is a member of the Association of Non-Bank Microfinance Institutions of Nigeria (ANMFIN) and has over the years, enjoyed collaborative relationships with the Central Bank of Nigeria (CBN), National Productivity Centre (NPC), Calabar Zonal Office, Nigeria; and Primary Health Care Centres across the 12 states of operation in Nigeria’s South-South, South-West and South-East geopolitical zones. The organization has received different honours which include among others:
- National Award of Excellence in productivity and Innovation by the National Productivity Center, Nigeria, December 6, 2019.
- The BEST MFI in Implementing of the Rural Business Plan (R&B) under the CBN/IFAD/RUFIN Programme, March 16, 2017.
About Musoni – Musoni is the leading digitalisation partner for microfinance institutions around the world. It helps 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. It has over a decade of experience and now supports 75 organisations in 15 different countries. It takes pride in its hands-on and personalised approach, with local teams in the Netherlands, Kenya and Myanmar.