Bangalore: FONDEP, one of Morocco’s leading microfinance institutions, has chosen Infosys Finacle for its strategic core banking transformation programme. The Finacle solution will help FONDEP adapt to changing customer needs by enabling them to offer relevant products to their customer base.
In a statement, Mouatassim Belghazi, Chairman, FONDEP said, “FONDEP’s mission is to contribute to financial inclusion and the fight against poverty in Morocco. As part of this mission, the efficiency of operations and cost reduction for customers requires the implementation of an effective information system. We are confident that Finacle is the core banking solution that will enable us to achieve our objectives.”
Amit Dua, Regional Head, Advanced Markets & Global Accounts, Finacle, Infosys said, “Banks need a platform that will enable them to offer a wider range of services needed to support economic growth that the African market promises. The Finacle deployment at FONDEP gives us the opportunity to demonstrate our ability to partner with banks in the French speaking market of this region. It will act as a springboard to extend our presence in this region.”
The comprehensive capabilities of the Finacle solution will enable FONDEP to accelerate its strategy of expanding beyond micro-credit activities. The new platform will also enable FONDEP to distribute its existing range of micro-insurance products to its clients in urban and rural areas. The programme will be deployed in French, underlining Finacle’s readiness for the French speaking North African banking sector. The deployment will be supported by specialist teams located across the Infosys global network, including those based at the company’s development centre in French speaking Mauritius
FONDEP is a Moroccan microfinance institution founded in 1996, with a current portfolio of 130,000 clients and loans outstanding of MAD 850 Million representing 20% of the total microcredit market in Morocco. FONDEP currently employs 1,150 employees through a network of 178 branches nationwide.
Kerala IT News