Evans Musodza (Veneka CEO)
The goal of financial inclusion is very much an ongoing focus for financial and developmental institutions, both in the public and private sectors. Much has been researched and published about the positive impact of a financially included population in the fight against poverty and social inequality. While the topic itself is broad, and the implementation of financial inclusion strategies takes on many facets, the various players in the value chain are challenged to understand their contribution to this cause.
As a provider of payments technology, our solutions must promote the goal of extending access to financial services to where they are lacking, and needed! In contemplating how we can achieve this, my view is that our technology solutions must create opportunities, and extend services that enable people to securely keep, spend, save and borrow money. I’ve abbreviate this as SSSB:
One of the goals of our newly introduced Newsletter is to showcase the successes of our customers and partners in solving this challenge. Our “In the spotlight” section brings to light solutions that we provide to respond to the needs in your own environments. In this issue, we highlight Instant Account opening!
I hope you’ll find our articles insightful, and the stories of our partners and customers inspiring. Please connect with us to also share your thoughts and successes on the topics discussed.
Veneka: to illuminate…
We are excited to announce the launch of Software-as-a-Service, labelled PRISM. Veneka have harnessed all the exciting capabilities in our Indigo, Luminus and Tieto Card Suites products to offer a compelling solution delivered as Software-as-a-Service.
PRISM is a fully managed hosted service which provides access to world class technologies. Our customers are enabled to rollout innovative payment services with quick time-to-market and outstanding performance.
With this solution, a wide range of payment capabilities that create competitive and sustainable models for financial institutions, processors, mobile money operators and payment services providers are offered. Customers have peace of mind as the solution is operated as if installed on their own premises.
Card issuing, card management, transaction authorisation, online banking, mobile banking, POS & ATM management, switching & Agency banking; are some of the things that can be done by PRISM. PRISM is a perfect solution for organizations that do not need the hustle of worrying about purchasing and maintaining additional hardware for new software; organizations that have small to non-existent IT department to manage an electronic payments Platform.
Veneka is excited to offer Indigo Instant Account Opening. This solution enables banks and financial institutions to on-board customers and open accounts instantly in the field.
“Providing instant account opening capabilities is a natural evolution of the product” says Robert Lane, Head of Sales at Veneka. “Our customers have found Indigo invaluable in their card business, now taking Indigo into the field with the ability to on-board customers is what the market needs and wants. It’s about driving financial inclusion.”
Workflows allow representatives to capture customer details and issue an account and a personalised card to a customer instantly in the field.
Account opening is supported on tablets and laptops, both online and offline. Options are available to capture biographical data and to scan KYC documentation. By using Indigo Instant Account Opening banks and financial institutions can easily and quickly on-board customers and issue cards instantly, initiating a personalised bank-customer relationship in the field and at the customer’s location.
UniBank Ghana Limited (uniBank) has launched a hybrid debit card / access card / student ID card for a leading Ghanaian university.
By using Veneka’s Indigo Card Issuing platform the student cards are personalised with student details (such as name, university, degree and faculty) and completed with a high-resolution identity photograph.
The students enjoy the convenience of a single card which offers them banking services, provides access control and serves as a university identification pass.
Veneka will be hosting annual regional events as well as partner events in different countries to assist in shaping Veneka’s strategy and product development efforts. These events will be in the style of the seminar hosted in Accra, Ghana. The events would enable us to showcase our products and services and afford us the opportunity to engage with customers, share ideas, and receive feedback from them.
It is through such events that we will be able to harness continued customer relationships and engage with our customers and partners on a more personal level.
Veneka will be hosting an event this year with its Technology partner, Tieto. The event will focus on showcasing the capabilities of a single payments platform that offers an array of payment solutions as well as tapping into the South African payments landscape.