Speed Capital Core Banking Upgrade Implementation Launch – Moments

23rd October, Nairobi, Kenya -Speed Capital and Craft Silicon today announced that Speed Capital will implement Craft Silicon Bankers Realm Core Banking as its new Core Banking Platform for its Banking Business.

The move is part of a goal initiative to transform the microfinance’s offerings to explore new lines of business and deliver a superior banking experience to its customers. Craft Silicon’s Bankers Realm will replace several solutions with one modern, transaction-safe and cost-efficient platform.

The solution will be changed over in two phases. Phase 1 is Upgrade from Loan Performer to Bankers Realm and Phase 2 is implementation of Alternate Channels-BREFT, Internet Banking, Mobile Banking and SMS Banking.

Craft Silicon’s Bankers Realm Core Banking provides transaction banking functionality including Account services, Interest and Charges, Limits and Facilities, Liquidity Management, Funds Transfer and Payments, Statements and Risk Management and Reporting. Craft Silicon – The technology pride of the country is who is behind the country’s biggest financial solution upgrades. Recently Craft Silicon did a Ksh. 250m core banking system upgraded for Jamii Bora bank and path breaking mobile payments and enquiries solution for KRA.

Mr. Githua, Chief Executive Officer of Speed Capital said: “This is a significant step of strengthening our institution spread countrywide. It is further proof of our firm commitment to deliver best-in-class services to our clients. We expect the new platform to deliver significant improvements that will benefit our clients. Our customers can look forward to good times ahead as we gear up to deliver more efficiency, flexibility and new exciting business solutions for them.”

Mr. Kamal Budhabhatti, Chief Executive Officer of Speed Capital said “This partnership with Speed Capital is an important moment for us. Speed Capital demonstrated rightly that technology is the inexorable choice for growing financial institutions to become faster, more efficient and offer seamless customer experience. Craft Silicon is pleased to be selected as preferred IT partner for Speed Capital in its endeavor to modernize their banking business to help increase productivity and operational efficiencies across the country.”

ABOUT SPEED CAPITAL LIMITED

Speed Capital limited is a vibrant, innovative and friendly financial institution dedicated to providing credit, investment, insurance and financial advisory products to Micro, Small & Medium Enterprises across Kenya. Speed Capital Limited was established in 2009 with the first branch opening in Nairobi and seeks to empower people economically. Today, Speed Capital is one of the leading microfinance institutions in Kenya, with a total of 7 branches and 15,000 customers countrywide. Speed Capital asset value currently stands at KES 300,000,000 and a loan portfolio of over KES 250,000,000 and has plans to increase this by a further KES 1 billion by 2015 to support growth.