MICROCAPITAL BRIEF: MicroPlanet Technologies Announces Guatemalan Microfinance Institution (MFI) is First Customer for Hybrid Software-as-a-Service (SaaS) Platform

MicroPlanet Technologies Incorporated, a US-based nonprofit that serves the technology needs of microfinance institutions (MFIs), has announced that Friendship Bridge, an MFI serving 13,000 women in Guatemala, is the first customer for its hybrid software-as-a-service (SaaS) core banking software platform.

First covered by MicroCapital in August 2010, MicroPlanet’s SaaS platform provides MFIs access, via the internet, to core banking software hosted and managed by MicroPlanet. The SaaS platform offers features that manage functions such as: loan origination, collections, general ledger, savings/deposits and transactions [2]. Furthermore, MicroPlanet’s SaaS platform offers various services, including: core banking software hosting and management, end-of-day processing, daily report generation and distribution, server monitoring and technical support [2].

MicroPlanet’s SaaS software is available for “rent” on an on-demand basis, thus allowing MFIs to avoid upfront license fees and scale up at their own pace as they grow [2]. Through this business model, the MFI minimizes computer server expenses as the SaaS provider owns and manages the information technology (IT) hardware [2].

By: Alexandra Pattee, Research Associate

About MicroPlanet Technologies Incorporated: MicroPlanet Technologies Incorporated is a US-based nonprofit that serves the technology needs of microfinance institutions (MFIs). It offers a software-as-a-service (SaaS) core banking software platform that provides MFIs access, via the internet, to core banking software hosted and managed by MicroPlanet. MicroPlanet also offers a stand-alone “Managed Services” solution for MFIs that have already purchased core banking software but who still wish to utilize MicroPlanet’s services capabilities. In addition to core banking service offerings, MicroPlanet also provides consulting services in the areas of operational and technology assessment, technology best practices, front-end technologies like mobile payments and automatic teller machines, disaster recovery planning and large-scale project management.

Sources and Resources:

[1] MicroPlanet Technologies Incorporated Press Release, Submitted directly to MicroCapital.org

[2] MicroCapital.org Article, August 17, 2010 “MicroPlanet Technologies Inc Releases Its Software-as-a-Service (SaaS) Core Banking Software Platform for Microfinance Institutions (MFIs)”, https://www.microcapital.org/microcapital-brief-microplanet-technologies-releases-its-software-as-a-service-saas-core-banking-software-platform-for-microfinance-institutions-mfis/

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