news - PesaPot, RedCloud to offer Mobile Technology for Kenyan Microfinance Organizations

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PesaPot, RedCloud to offer Mobile Technology for Kenyan Microfinance Organizations
July 13, 2010

Nairobi, July 13, 2010 (Microfinance Africa) - RedCloud, developer of cloud computing financial services platform have recently announced an alliance with PesaPot in Kenya to provide mobile loan technology for the fast growing MFI and Sacco industry in Kenya. This reseller agreement enables PesaPot to offer innovative technology and mobile solutions as a best practice in the cloud.

The alliance will bring RedCloud Technology to fast growing financial services companies reaching the under banked. By joining the cloud, financial services companies can gain real-time insight into their loan portfolios as well as dramatically reduce their costs.

“Our work with PesaPot is helping make MFIs and Saccos (Savings and Credit Cooperatives) more efficient and effective and enable them to reach thousands more of the underbanked population with their products” said Elizabeth Galpin SVP of Product Marketing at RedCloud. “Bringing together Pesa Pot’s unique industry knowledge and experience and Red Cloud’s cloud computing technology will make a highly positive impact on the entire financial eco system in Kenya and beyond.”

PesaPot is a technology company in East Africa with Headquarters in Nairobi. It develops innovative and revolutionary IT solutions for business that are geared to provide a fully integrated electronic financial services platform. “Our partnership with RedCloud will open new horizons for the MFIs, SACCOs and CBOs (Community Based Organizations) in this region to run their financial services on a shared and most secure cloud computing platform. The platform is integrated with mobile phones and will enable Field and Loan Officers to register customers in real-time, make loan applications, disbursement of loans, loan repayments and much more. RedCloud Technology will enable organizations to reduce cost of buying expensive software and this will make MFIs, SACCOs and CBOs offer cheaper loans, increase efficiency and operate without borders” said Michael Asola, the CEO of PesaPot.

“This is thought leadership to make business more exciting, fulfilling, and most importantly to improve livelihoods of millions and make the world a better place. Cloud computing through the RedCloud platform offers just that. Deployment is instant and requires no upfront payment. For financial organizations whose main focus is to help people make money, RedCloud is simply an A to Z of financial solution platforms in Africa” he added.

RedCloud’s is fast becoming a leading provider of cloud computing technology to financial and associated services in emerging markets. It is currently building a number of International hubs that leverage the power of the internet to connect banks, Telcos, Microfinance Institutions and P2P lending markets to help bring new levels of investmentas well as funding capability. By doing it will eliminate the high costs of loans, increase finance capacity and enable entrepreneurs to be able to access funding more easily. RedCloud is planned for release across a number of continents and countries including EMEA, South America, Africa and India.

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