Quick Facts: RSwitch and Veneka Partner for Growth

• Technology migration delivered in under 3 months
• Brought on board mobile service providers for e-wallet cash disbursement over ATMs

• Value added services available online to add value to the Smartcash card, and ready for expansion to other channels such as POS and E-Payments

• The country’s growing banking sector has been bolstered by the Rwandan government.  Government’s ambition is to increase the banked population to 80 percent by 2020 – facilitated by technological innovation.

Technology, innovation transforms delivery and customer service 
RSwitch strategic partnership with Veneka has re-invigorated Rwanda’s National E-Payment Switch.  In a two-phase rollout, Veneka managed RSwitch’s migration onto a global technology platform and introduced new, adaptable capabilities.

Gearing up for Phase I  
RSwitch’s decision to upgrade its technology was an important landmark on the company’s transformation journey.  “At the time the future of RSwitch seemed bleak and stood in a massive predicament. With a history of serious issues, I was the number one critic of the performance of RSwitch but in it all, I still believed it was the best solution for Rwanda” says RSwitch CEO Konde Bugingo.

RSwitch appointed Veneka to manage and implement the technology migration based on Veneka’s unique expertise. Veneka’s project consultants had the right skills and in-depth knowledge of the Rwandan market.  They also had extensive experience in migrating legacy systems in diverse African regions. Veneka guided RSwitch to implement the new technology effectively, tackle the existing technical challenges and position RSwitch for the next growth phase.

The migration enabled new banks and payment service providers to connect to RSwitch on the improved systems. Existing clients were also migrated from the old switch onto the new platform, thereby achieving cost savings and better service.

Phase II positions RSwitch for growth
In phase II, Veneka focused on innovation to expand and improve RSwitch’s services.  Veneka’s software solutions currently provide enhanced capability to integrate to partners and banks and offer new customer services and value-adds. 

• Luminus Connect provides quick, seamless integration for new banks and partners using RSwitch’s services
• Luminus Back Office has increased profitability by providing efficient and innovative ways of pricing and flexible fee collection.  RSwitch also automated their fee collection in line with Rwanda’s Central Bank Mandate
• Luminus Portal has enabled RSwitch to offer services on the popular Smart Cash brand via online banking. The softwarealso enabled RSwitch to rollout value added services such as bill payments, mobile money withdrawals, and accept e-commerce payments.

There’s a long runway for new offerings on Veneka’s technology platforms.  RSwitch’s focus is on continually building new products to serve an increasingly competitive market.