ASPEKT in collaboration with Orange Money launched a new mobile banking service in Madagascar.
On 12th April 2018, ASPEKT in collaboration with Orange Money, a 3rd party payment system, successfully launched a new digital credit and savings service for the client Premiere Agence de Microfinance (PAMF) in Madagascar.
Premiere Agence de Microfinance (PAMF), Madagascar is part of the global microfinance organization Aga Khan Agency for Microfinance (AKDN) and in Madagascar, ASPEKT launched Digital Financial Channel for USSD banking distributed by Orange Money via mobile phones, and Lokyata – responsible for processing Scoring Cards and neuralgic network vendor.
ASPEKT developed connectivity of API Delivery Layer for interconnection of mobile network operator for USSD (Unstructured Supplementary Service Data) – banking with financial institution, covering the processes of customer registration, loan application processing, score cards processing and automated decision-making processes, and the deposit management processes. The DFC offers user-friendly environment for mobile users with access convenience, thus creating user experience platform that supports clients to establish a mobile outreach and step up completely into financial digitalization era.
With the successful launch of this project, PAMF is able to manage a multi-channel strategy for advanced financial inclusion in USSD-based mobile banking integration with OrangeMoney, in Madagascar.
The Aga Khan Agency for Microfinance (AKAM), a non-profit agency of the Aga Khan Development Network (AKDN), works to reduce poverty and economic and social exclusion. AKAM operates microfinance institutions (MFIs) in several countries across Africa, South and Central Asia and the Middle East. As of 31 December 2017, AKAM’s network MFIs had a total portfolio of $300 million in loans serving approximately 530,000 borrowers, and $380 million in deposits with 1.2 million savers.
