Thursday, January 7, 2010 A back-end office program designed with the help of Synergent and the Maine Credit Union League has allowed the World Council of Credit Unions to help establish and test new financial data processing and product development capabilities for savings and credit cooperatives (SACCOs), or credit unions, in Kenya. The new program focuses on technology development and deployment in Kenya, where more than 59% of credit union members live on less than US$1 per day. Grant dollars will support the development of a central data processing service bureau in WOCCU's Nairobi office that will enable small and medium-sized rural SACCOs to reach beyond their normal service areas and meet the needs of more people.
Synergent first met with WOCCU representatives in October of 2008 to share insight and advice in their efforts to convert credit unions in Africa to an automated processing system.
The program initiative was funded with $2.1 million donated to World Council of Credit Unions (WOCCU) by the Bill & Melinda Gates Foundation to establish and test new financial data processing and product development capabilities for savings and credit cooperatives (SACCOs), or credit unions.
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