Thursday, March 28, 2024

Kenyan IT company wins M-Finance tender

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From L-M-Finance E.D Operations Ms.  Zandile M. Shaba , NLS CEO Ms. Alfelt Abio-Gunda , M-Finance MD Mr. Titus  Waithaka and NLS Head of Innovation Edward Kimani during a contract signing  ceremony at Madison Group offic
From L-M-Finance E.D Operations Ms. Zandile M. Shaba , NLS CEO Ms. Alfelt Abio-Gunda , M-Finance MD Mr. Titus Waithaka and NLS Head of Innovation Edward Kimani during a contract signing ceremony at Madison Group office

A Kenyan IT company that specialises in providing banking software has won a tender to provide mobile banking and other services to M-Finance, a subsidiary of the Madison Group.

NLS Banking Solutions will now be the digital banking provider for M-Finance.

The two firms signed a contract in Lusaka last week where NLS will be required to install and support its Tera Integration Platform.

The platform has been praised for having the ability to offer integration between the various facets of a bank.

A press release from NLS said the platform “guarantees 99 per cent service availability to customers, even in the most remote areas”.

“The solutions we develop complement core banking while providing a platform for in-house development by the bank’s IT department.

“This gives the banks an opportunity to deploy new innovations such as utilities payment, mobile banking, internet banking and other channels,” said Ms Alfelt Mumbo Abio-Gunda, the NLS chief executive officer.

With its entry in Zambia, NLS is now present in 18 African countries.

“The solutions we develop complement core banking while providing a platform for in-house development by the bank’s IT department. This gives banks an opportunity to deploy new innovations such as utilities payment, mobile banking, Internet banking and other channels,” explains Ms Abio-Gunda. 

She made the remarks in Lusaka, last week, during the contract signing ceremony between NLS and M-Finance.

She explained that the innovation, Tera Integration Platform (TIP), enables easy multi-channel integration and guarantees 99 per cent service availability to customers even in remote areas.
M-Finance CEO Titus Waithaka said NLS was the most suitable for the job because of the services it offers.

“There are different innovators approaching us for engagements, but what NLS has is the ideal solution for our offline branches as well as other delivery channels including automated) teller machines (ATMs) and mobile phones. We can now operate in the entire Zambia, increase our profit margins and give more value to our customers,” Mr Waithaka said.

Mr. Waithaka said the innovation was unique and provided a perfect solution to the lender’s needs.

He said the innovation is built on a full Service Oriented Architecture (SOA) framework that allows seamless integration of existing channels in the market, with various adapters for future interfacing.
“This will further expand accounts accessibility for MFinance customers across the country on various platforms,” he said.

NLS Head of Policy and Projects Conseray Mabeya explained that the platform is already serving six leading commercial banks in Kenya.

6 COMMENTS

  1. Why didn’t you give this tender to Zoona and keep most of the cash in Zambia? but knowing corrupt people in Zambia, they wanted a foreign company where they could easily get some katamulomo

    • Zoona is another company. M-Finance is a separate entity too from Zoona. Understand and read thoroughly before commenting.

  2. So in Zed we just export minerals and agri-commodities while our Kenyan brothers are now into exporting technology?

    Now I see why Mark Zuckerburg went to Kenya but never stepped into Zambia .Did I also mention Kenya has like a gazillion multinationals with African headquarters there while in Zed we’re comfortably asleep losing?

  3. #Enka, Kenya has always had multinational companies headquarters there including religious ones while in Zed, our leaders would rather celebrate for Jameson. Soon we will be importing the NIgerian small street car

  4. Kenyans are advanced in IT un like Zambians. In the administration of pension business they have developed a core pension administration package called FUND MASTER. It incorporates different modules such as claims etc. Then am not surprised that they even have come up with some like NLS BANKING SOLUTIONS.

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