The Foundation for International Community Assistance (FINCA) International, a U.S.-based nonprofit microfinance network with 10,000 employees in the Americas, sub-Saharan Africa and Eurasia, reportedly has opened its “Americas’ Data Center” which will process data for the organization’s headquarters in the US city of Washington, DC, and its Latin American subsidiaries [1]. FINCA has previously existing data centers in Africa and Germany. The data management system will include Flexcube banking software from the US-based Oracle Corporation, a human resources information system, data warehousing, a financial management system and email infrastructure [1, 2]. As of December 2011, FINCA International served approximately 900,000 clients through its subsidiaries in 21 countries. It had total assets of USD 719 million in the 2011 fiscal year, with an operating profit of USD 33.9 million.
By Nicole Boyd, Research Associate
About FINCA International: Founded in 1984 by Dr John Hatch, who is known for helping develop village banking, the Foundation for International Community Assistance (FINCA) International is a microfinance network based in Washington, DC that provides financial services to poor families through a network of locally managed institutions. FINCA targets its services to poor women living in the Americas, sub-Saharan Africa and Eurasia. As of December 2011, FINCA International served over 900,000 clients through its subsidiaries in 21 countries. It had total assets of USD 719 million in the 2011 fiscal year, with an operating profit of USD 33.9 million. In December of 2011, FINCA launched a subsidiary, FINCA Microfinance Holding LLC, with funding from the International Finance Corporation (IFC), KfW Bankengruppe, Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden NV (FMO), responsAbility, and Triple Jump [3].
Sources and Additional Resources:
[1] DatacenterDynamics: “Microfinance org FINCA launches US data center” http://www.datacenterdynamics.com/focus/archive/2013/01/microfinance-org-finca-launches-us-data-center
[2] Oracle: “Oracle FLEXCUBE” http://www.oracle.com/us/industries/financial-services/046907.html
[3] MicroCapital Universe Profile: FINCA International https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FINCA+International
MicroCapital Brief, June 24, 2011, “FINCA International Announces Launch of FINCA Microfinance Holding With Investments of $74m from IFC, KfW, FMO, responsibility, Triple Jump”? https://www.microcapital.org/microcapital-brief-finca-international-announces-launch-of-finca-microfinance-holdings-with-investments-of-74m-from-ifc-kfw-fmo-responsability-triple-jump/
MicroCapital Brief, January 18th, 2012, “MICROCAPITAL BRIEF: FINCA International Launches For-Profit Subsidiary: FINCA Microfinance Holding LLC” https://www.microcapital.org/microcapital-brief-finca-international-launches-for-profit-subsidiary-finca-microfinance-holdings-llc/
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