BankOne empowers microfinance and similar financial institutions with technology to provide individuals & micro enterprises with unlimited access to quality financial services
The desire to financially empower the large and highly under-served population in the informal sector has led to the formation and licensing of various retail financial organizations including rural, community and Microfinance Banks. Other financial institutions in the same retail category including mortgage Banks, savings and loan banks, and consumer finance houses have also sprung up to address similar gaps in the formal consumer segment. However, key challenges facing these institutions include inadequate automation to streamline internal operations and lack of wide spread physical or electronic reach to encourage customer patronage.
Also, the fact is clear that efficient operations, high quality and accessible financial services, as well as process automation are key requirements to achieve and sustain profitability in the financial services industry of the 21st century. To effectively overcome hurdles and to allow small/medium retail Banks remain relevant, competitive, and profitable, these institutions are now in dire need of affordable yet applicable technology platforms