CIF integrates SAB-AT software; announces go-live

By Pavithra R

The CIF (Confederation of West African Financial Institutions) has announced that that the confederation has gone live with SAB AT core banking, in a multi-establishment configuration.

The West African Confederation of Financial Institutions is a regional grouping of financial cooperatives and microfinance institutions. Designed to a modular concept, the SAB AT solution features a broad functional coverage embracing Front Office, Back Office and transverse steering functions. The functional scope implemented at the CIF includes all current branch and back-office transactions with activities essentially related to microfinance and savings as well as the management of the regulatory statements defined by the Central Bank of West African States (BCEAO) to which the Decentralized Financial Systems are subject.

The project in which several SAB and CIF partners participated enables the implementation of SAB AT software package in reporting, purchasing management and EDM domains. Under the prevailing restrictions imposed on travelling by the current COVID-19 pandemic, SAB teams assisted the CIF remotely, which highlights the autonomy of CIF teams with SAB AT solution. The integration marks the entry of CIF network into the digital age with the eventual full digitization of activities for the benefit of its 4.3 mn current customers within the West African Economic and Monetary Union.

“The CIF Network, as part of its contract with SAB Group, is pleased to announce the deployment of SAB-AT banking software. This software is already functional since mid-August in 200 points and 39 counters of Réseau des Caisses populaires du Burkina (RCPB). Overall, we are fully satisfied with the initial feedback from its implementation in Burkina Faso, and we plan to operationalize this system in all six microfinance networks flying the CIF flag in Benin, Mali, Senegal and Togo by 2021. Adjustments are still in progress to ensure that the RCPB exploits 100% of the potential of SAB-AT software,” said Mr Mathieu Soglonou, General Manager of the CIF.

CIF, by adopting the banking software is modernizing its savings and credit cooperatives to reduce waiting time at counters. The confederation is enabling its users and members to carry out withdrawal and deposit transactions from any location 24 hours a day and seven days a week and remote E-banking via the cell phone “SMS Banking”.

For SAB, CIF is its biggest client by size in microfinance. The next stages of the project will be to deploy SAB in CIF networks in Senegal, Togo, Benin and Mali.

SAB, a banking software market leader, offers highly customizable technological solutions to financial institutions. The company aims to assist clients in achieving their goals without the worry of IT limitations, and within a defined cost structure customized to their individual economic model.