The CIF (Confederation of West African Financial Institutions) has just gone live with SAB AT core banking, in a multi-establishment configuration.
The functional scope implemented at the CIF includes all current branch and back office transactions with an activity essentially related to microfinance and savings as well as the management of the regulatory statements defined by the Central Bank of West African States (BCEAO) and to which the Decentralized Financial Systems are subject.
The project in which several SAB and CIF partners participated enables to implement the SAB AT software package and those of the partners in reporting, purchasing management and EDM domains.
The success of this project is also remarkable since it took place in the sanitary context that we know, with a ban on travel. SAB teams assisted the CIF remotely, which highlights the great autonomy of CIF teams with SAB AT solution.
Mr Mathieu Soglonou, General Manager of the CIF, comments on SAB AT go live: “The CIF Network, as part of its contract with SAB Group, is pleased to announce the deployment of SAB-AT banking software. This software is already functional since mid-August in 200 points and 39 counters of Réseau des Caisses populaires du Burkina (RCPB). Overall, we are fully satisfied with the initial feedback from its implementation in Burkina Faso, and we plan to operationalize this system in all six microfinance networks flying the CIF flag in Benin, Mali, Senegal and Togo by 2021. Adjustments are still in progress to ensure that the RCPB exploits 100% of the potential of SAB-AT software.
By adopting this banking software, we are modernizing savings and credit cooperatives to reduce waiting time at counters. Indeed, it gives the members or users the possibility to carry out via the cell phone “SMS Banking” withdrawal and deposit transactions from any location 24 hours a day and 7 days a week and to enquire their accounts through the remote E-banking.
As a result, this new information and management system, it should be recalled, marks the entry of CIF network into the digital age with the eventual full digitization of activities for the benefit of our 4.3 million current customers within the West African Economic and Monetary Union. Thanks to this intelligent tool, we will increase the total number of beneficiaries of our services to more than 10 million people within five years. »
A new reference in microfinance for SAB
For its part, SAB is very pleased with this new operational reference, its biggest client by size in microfinance. SAB AT’s go live took place successfully under special conditions due to the Covid-19 health crisis. This operation once again validates SAB’s offer for microfinance institutions. The next stages of the project will consist in deploying SAB in CIF networks in Senegal, Togo, Benin and Mali.