MICROCAPITAL BRIEF: Pay-per-use Option from Software Group Targets Smaller FSPs Offering Branchless Banking in Nigeria

Software Group, a Bulgaria-based technology company serving financial services providers (FSPs), recently released a “Fast Track” version of its agency banking software. While the firm’s traditional agency product carries a subscription fee, the new version has a pay-per-use pricing structure, which can be more affordable for smaller FSPs. The software allows FSPs to delegate the delivery of their services to agents, who can use smartphones, feature phones and point-of-sale (POS) terminals to serve FSP clients outside of FSPs’ branch locations.

Other services of the Software Group support FSP operations such as loan origination, internet banking, insurance, invoice factoring, mobile wallets and payment card services. In addition to Bulgaria, the firm has offices in nine other countries with approximately 350 employees serving 200 clients on six continents. Financial data on the company are not available.

By Adhya Singh, Research Associate

Sources and Additional Resources

Software Group press release
https://www.softwaregroup.com/about-us/news/details/2022/03/08/software-group-launches-fast-track-agency-banking-to-accelerate-race-to-reach-nigeria-s-unbanked

Software Group homepage
https://www.softwaregroup.com/

Software Group agency banking solution webpage
https://www.softwaregroup.com/solutions/agency-banking

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