Hi Tara, thank you for being our guest on Software Group’s Blog. Could you please share more about SG Consult and how the idea started?
We, therefore, believe that in order to lead organizations through successful digital transformations we must offer complementary consulting services in addition to our software solutions. SG Consult leverages the expertise gained over the years as one of the first global technology companies supporting digital finance.
SG Consult helps clients by understanding their needs, drawing up business cases for digitization, and preparing financial models for building up self-sustaining services. We provide reliable and secure technology platforms that enable banks, mobile network operators and various businesses to offer their customers a vast array of financial solutions, across multiple channels, anywhere at any time.
Our team of experienced, real-world professionals provide practical perspectives and solutions to traditional and non-traditional financial service providers on how to transform their business and operations to drive profitable growth, differentiated customer experience and operational efficiency.
What are the services offered by the unit?
We offer a range of key services starting from scoping and assessments (country scoping, payment diagnostics, ICT and institutional readiness, and roadmaps) to strategy (digital business, innovative channel strategies, cost benefit analyses) and digital product development (product innovations, go-to-market strategies).
In which regions do you provide these services?
Could you please share some customer success stories?
On behalf of the Asian Development Bank (ADB), Software Group uncovered opportunities to develop a more inclusive digital economy through digital financial services, especially in terms of outreach to rural, unbanked areas. We identified and developed pilot projects in 2 countries – Georgia and Mongolia – to increase the usage and adoption of digital financial services, especially for women, and micro, small and medium enterprises (MSMEs) in rural areas.
We have for years been carrying out ICT and core banking assessments for several MFIs and banks including the Sogebank Group in Haiti, the Aga Khan Agency for Microfinance, and for both MFIs in Timor Leste, among others.
Please share more about the customer needs that the unit is solving and the benefits for the organizations?
To succeed, financial service providers need to first understand their own status quo and business objectives before beginning their digital transformation journey. This is called understanding an organization’s “digital maturity”. By asking people across the entire organization to assess the company’s maturity in several areas (strategy, operations, technology, culture, and the customer), a financial services provider can identify where transformation or improvement is needed and where investment is required.
We are helping to solve the pain points that financial service providers are facing in all of these areas. For example, they can be related to developing new product innovations or carrying out an ICT audit to ensure the effectiveness of a bank’s digital technology and alignment to their digital banking strategy.
Customers benefit from our experience and the expertise gained from delivering more than 450 successful consultancy and software implementation projects in more than 65 countries. An intensive backstopping/quality assurance and monitoring process from our 9 worldwide offices will ensure the highest quality in the execution of the project. Through our staff and associated consultants, customers gain access to best practice and lessons learned for creating viable and scalable digital ecosystems.
What are the plans of SG Consult for expansion and reaching new customers?We are currently growing our consultancy practice by leveraging our local and regional presence and our close partnerships with other technology and consultancy companies. We are also anticipating new opportunities that come from the deployment of Mojaloop, the interoperable payment platform that Software Group developed in partnership with other technology companies. We want to support all types of digital financial services providers to be able to leverage Mojaloop to rapidly expand the scale and scope of the services they can provide.
In the future, we will explore the potential to set up an innovation lab to test new models and technologies with partner financial services providers and governments to co-create fintech, Regtech, Insurtech, Smart City solutions.