A Kenyan IT company that specialises in providing banking software has won a tender to provide mobile banking and other services to a Zambia-based microfinance firm, widening its spread in Africa.
NLS Banking Solutions will now be the digital banking provider for Zambia’s M-Finance, a subsidiary of the Madison Group.
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.
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 nation, increase our profit margins and give more value to our customers,” Mr Waithaka said.