Software Group launched a DFA solution with Sandah in Egypt to introduce shorter loan approval process
8 May, 2018, Sofia, Bulgaria - Software Group and Temenos launched a project with Sandah, a greenfield microfinance institution in Egypt, to fully digitize their operations and introduce shorter loan approval service time. Digital Field Application (DFA) implemented by Software Group and integration with Temenos T24 Microfinance and Community Banking Suite (MCB) will be at the heart of this improvement.
With the DFA solution loan officers of Sandah are able to perform operations such as client onboarding and loan origination directly in the field. T24 MCB that is also implemented by Software Group allows the instant communications between the field officers of the MFI and the back office.
“Collaborating with Sandah is opening up opportunities for us in the Egyptian market. Software Group is very proud to be Sandah’s long-term partner and support the digitization of the company's operations. We would be honored to help them extend their outreach to other markets and achieve their local aggressive goals", commented Kalin Radev, CEO of Software Group.
By digitizing its operations, Sandah also aims to improve direct communication with stakeholders and ensure accuracy of information and data instantly synchronizing with all databases during the loan approval process.
SANDAH is a major newly emerged microfinance startup company in Egypt. It is a joint-venture backed by the Arab African International Bank (AAIB) and SANAD Fund for MSME (initiated by KfW Development Bank, Germany. SANDAH as a new microfinance venture with international support will be set up under the new microfinance law in Egypt and is set to be launched beginning of 2018 in Cairo.
SANDAH offers a complex and professional environment with diverse product portfolio, customer care/support as major competitive advantages for market penetration and aggressive market share acquisition. Social and economic development is the base of our mission as a contribution to the social and economic structure of the country.
About Software Group
Software Group is a global technology company that is specialized in delivery channel and integration solutions for institutions that provide financial services. Founded in 2009 and headquartered in Sofia, Bulgaria, it currently serves a worldwide client base in more than 65 countries from 9 regional offices located in Australia, Bulgaria, Egypt, Ghana, India, Kenya, Mexico, the Philippines and the USA. Some of Software Group’s customers are organizations such as Bill & Melinda Gates Foundation, International Finance Corporation (IFC), Asian Development Bank, Asian Confederation of Credit Unions (ACCU), 7 of the top 10 Microfinance networks (Finca, OI, VFI, Accion, Hope International, Microcred, ReAll), Bank South Pacific, Fidelity Bank Ghana, Grameen Koota Financial Services etc.
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