Bankingly, a Uruguay-based company that helps smaller financial services providers (FSPs) implement digital financial services, and Woodcore, a provider of core banking software with offices in Nigeria and the US, recently partnered on an effort to help microfinance institutions and other FSPs in Africa to add digital offerings to their product menus. Among the goals is to help FSPs “improve operational efficiency and boost customer satisfaction and engagement.”
Bankingly is a financial technology (fintech) company that offers software-as-a-service (SaaS) establishing digital channels for small and medium-sized FSPs to reach their customers with the goal of providing “financial health and inclusion for all.” The company enables services including “web and mobile banking, conversational banking, digital onboarding and loan origination, [an] admin portal, and fraud prevention.” Founded in 2015, Bankingly has grown to serve 100 FSPs in 22 countries in Africa, Asia and Latin America.
Established in 2021, Woodcore is a developer of cloud-based software for FSPs in Africa. Its systems enable the management of FSP portfolios totaling USD 65 million, spanning 300,000 loan accounts and 420,000 deposit accounts. Woodcore’s software also links to payment systems and allows for various methods of data analysis and reporting.
By Elva Montelongo, Research Associate
Sources and Additional Resources
Bankingly press release
https://www.bankingly.com/news/bankingly-and-woodcore-collaborate-to-transform-digital-solutions-for-financial-institutions-across-africa/
Woodcore homepage
https://www.woodcoreapp.com/
Woodcore profile on LinkedIn
https://www.linkedin.com/company/woodcoreapp/about/
Bankingly homepage
https://www.bankingly.com/
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