End of 2017, Software Group signed a contract with Caisse d’Epargne et de Crédit Agricole Mutuels (CECAM), а microfinance organization based in Madagascar, to ensure access to financial services to 800,000 additional customers in Madagascar by 2022. The project will also support the increased access to financial services by the existing clients of the company due to the extension of the MNO network.
This will be achieved by delivering agency banking and DFA solutions for the institution. Other benefits include growing the credit portfolio of CECAM with 15% and their deposits with 10%. The ambition of the project is to help popularize the use of digital financial services, especially in rural areas and among low-income populations. It will also be a factor in improving the living conditions and reducing vulnerability promoting social and economic emancipation.
The project will also include facilitating the transactions made by members including the refund and deposit, ensuring security by transactions, faster processing of information by applications and credit decisions, making transactions possible even in case closing time (24/7) and providing more convenient access for clients in neighborhoods and their neighborhood merchants. The diversified financial services offerings will complement the existing ones and will ensure the proposal of new services to be realized in a more agile way.