Digital first Microfinance
sQuid’s highly-scalable platform includes configurable components based around a central hosted Digital Account system
sQuid Microfinance is supported by unique technology, with the software platform centrally managed in the UK. The platform is highly-scalable and has been built on our own experience of running large-scale payment management programmes for NGOs in Africa.
sQuid’s Microfinance platform operates on a private cloud - providing a highly resilient service and enhanced security when compared to public cloud-based systems.
Our clients are parents of children at schools that are part of iMlango, the pioneering education programme operating in rural schools in Kenya, and our knowledgeable local field team regularly visit parents to ensure the smooth running of loans, and to offer help and support.
sQuid Microfinance - How it works
Parents are registered in the sQuid digital system, and issued with a multi-wallet smartcard used to manage loan repayments and provide a secure eMoney wallet to store their education funds.
Loan requests are made via an online application process, enabling rapid assessment and approval by our team in Nairobi. Clients are notified of loan approval by text message and money is issued through sQuid’s own network of digitally-enabled agents, meaning that the system is entirely cashless up to the point of loan cashing by the client.
Monthly repayments are made by clients at the agents, using the smartcard and digital account. This allows for very rapid management information and control processes. Collections are then transmitted electronically by the agent to Nairobi.
Platform features include:
Fully digital back office
From application through to the review process, ongoing management and reporting - all back office functionality is digital.Customer onboarding and mobile application
Captures customer details, including, name, photo and ID - improving onboarding time.Customisable loan and savings products
Multiple loan and deposit products for end-customers - providing flexibility and easy launch of new products.Digital field applications
Flexible on and off-line features - enabling efficient business processes in the user environment.
Customer applications and portals
Intuitive consumer-facing portals and self-management features.
SMS messaging
Customisable messaging to keep end-customers up to date with account activity.Fast data powered analytics
Powerful data analytics dashboard - providing insightful management information in real time.