Mbanq and TekNsol partner to bring core banking technology to Haiti

By Divya Shah

Why it matters: Shared core banking infrastructure can help cooperative financial institutions modernise operations, expand digital services and improve access to financial products.

Mbanq has partnered with Haiti-based FinTech company TekNsol to provide core banking technology for a programme aimed at modernising more than 40 credit unions across Haiti.  

The initiative supports Fédération des Caisses Populaires Haïtiennes Le Levier (FECAPH), a national cooperative network established under Haiti’s 2002 credit union law. The organisation provides shared services and coordination for its member credit unions. 

Under the partnership, TekNsol will act as the local technology partner, managing implementation and coordinating with Le Levier and participating credit unions. US-based Mbanq will provide the core banking technology, system configuration, and ongoing technical and operational services.  

The first phase will introduce core banking capabilities designed for cooperative financial institutions. These include digital member onboarding, current and savings accounts, loan management, transfers between member accounts and cheque processing. 

The platform has been configured to allow participating credit unions to use shared banking infrastructure while maintaining their individual operations and relationships with members. The approach is intended to provide a common technology foundation across the network while accommodating the way each institution serves its community. 

Vlad Lounegov, CEO of Mbanq, said the collaboration with TekNsol would establish a technology foundation to help more than 40 credit unions modernise their operations, introduce mobile and digital services, and broaden access to financial services across Haiti. 

He highlighted the role credit unions play in serving individuals, communities and businesses, adding that modern banking infrastructure could expand the services they offer to members. 

Philippe Chancy, co-founder and CIO of TekNsol, said credit unions needed technology that reflected their operating models and the way they served members. He described the project as combining modern core banking infrastructure with local implementation and support.  

The programme is expected to expand beyond the initial core banking deployment. Future phases are planned to introduce national payments and mobile banking, followed by international payments and card services. 

The underlying architecture is designed to support further development of digital services, including additional payment channels, digital applications and emerging technologies. 

The initiative builds on the role of credit unions in Haiti, where member-owned institutions have long served local communities and businesses. By introducing shared core banking infrastructure, the programme aims to support the modernisation of these institutions and expand the range of services they can provide.  

For Mbanq, the project extends its work in providing financial technology infrastructure, including core banking, account management, digital onboarding, payments, compliance technology and customer-facing applications. TekNsol will provide the local implementation and coordination needed to deliver the programme across the participating credit unions