Microcapital Brief: Banking Concern-Genie, Cufa To Distribute Banqin Digital Banking Platform To 23 Credit Unions Inward Rural Myanmar

Bank-Genie, a Singapore-based financial engineering (fintech) business organisation firm, late partnered amongst Cufa, an Commonwealth of Australia-based NGO, to deploy Bank-Genie’s BanqIn platform inward Cufa partner credit unions. The BanqIn platform testament dwelling house the credit unions’ client datasets, which as well as and so tin can live accessed online, allowing for remote loan approvals, disbursements too deposits. The initial rollout will focus on 5 credit unions inward rural Myanmar, amongst the finish to include a total of 23 over fourth dimension.

Cufa CEO Dr Peter Mason said, “BanqIn’instant cloud every bit well as subscription-based solutions take been designed amongst relatively small institutions at the forefront of conceptualisation, thereby empowering these credit unions to enable customers to first their own pocket-sized businesses with rest. And amongst Cufa projection officers instruction the crucial concern concern skills such every bit fiscal literacy skills together with digital adaptation to credit marriage staff together with members, nosotros mean to arm the Myanmarese with the correct tools for success.”

Founded inward 2016, Bank-Genie raised its Series A funding amongst SBI Ven Capital acting every bit atomic issue 82 investor inwards 2017. Bank-Genie serves microfinance institutions inwards Africa, Central Asia, Southeast Asia every bit well as Russia.

Cufa was established inwards 1971 to back upwardly credit spousal relationship development inwards Southeast Asia in addition to the Pacific. For the 12 months ending June 2020, the organisation reported revenue of AUD 1.3 million (USD 988,000).

By Kate Finster, Research Associate

Sources too Additional Resources

Bank-Genie press liberate

https://www.banking society-genie.com/postal service/cufa-partners-with-banking company-genie-instant-banqin-to-farther-financial-inclusion-inwards-myanmar

Bank-Genie homepage

https://www.depository financial institution-genie.com/

Cufa homepage

https://www.cufa.org.au/

Cufa 2020 annual report

https://www.cufa.org.au/wp-content/uploads/2020/12/Cufa_Annual_Report_2019_2020.pdf

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