Cloud computing boon for SMEs, co-operatives

Source: Cloud computing boon for SMEs, co-operatives | The Herald 31 OCT, 2019

Cloud computing boon for SMEs, co-operatives

Tawanda Musarurwa  and Chipo Chaumba
Leading information technology system integrator, Sybyl Limited, has proposed to set up a cloud-based core banking system for small-to-medium enterprises (SMEs) and cooperatives in the country.

Cloud computing is the on-demand availability of computer system resources, especially data storage and computing power, without direct active management by the user.

Sybyl director cloud services Mr Sunil Varghese told The Herald Finance & Business that placing Zimbabwean SMEs and co-operatives on the cloud can also help with improving their access to financial services.

“It also addresses the issue of financial inclusion. We believe that when we start focusing on everybody, no matter how big or how small they are, and we support them with the technologies that we have been highlighting here it results in greater financial inclusion. It’s a platform where they can process their payrolls, their sales, their documents, it has endless ability for applications.

“And our services are reasonably priced, as you might know just setting up an own data centre can run into millions of dollars,” said Mr Varghese.

Sybyl’s cloud-based banking solutions cover all aspects of banking — from retail, to corporate, to universal. Their solutions include: core banking solution, internet banking, cheque truncation systems (CTS), anti-money laundering (AML), credit risk management system, mobile banking services, mobile wallet & agency banking, EFT Switch, prepaid card solutions, card management software, and ATM control & monitoring software.

Other solutions include reconciliation and settlement software, business process automation, banking software solutions, cash management suite, end-to-end integrated credit risk management system, electronic bill presentment and payment application, mobile wallet and agency banking, automate customer on-boarding and KYC process, and enterprise resource planning (ERP).

Added Sybyl general manager banking solution Mr Tejaswi Tanjore: “As Sybyl we believe that Zimbabwe has no other option but to bounce back, and for you to bounce back, the economy always has to be supported by technology to address all the concerns and the economic challenges that the country is currently facing. We are trying to bring in the best technology, known as open stack technology and all the solutions that it offers.

“We are focusing on the smallest enterprises. Many small players want to get into the market, but the stumbling block for a number of these small players is technology. They can’t afford technology, but they need the solutions it offers.”

Sybyl will partner with TelOne, with regards to the latter’s data center capacities.

The IT system integrator has also since engaged local firms such as FBC Bank, NetOne, Disruptive Technologies Africa, Umtanashi Finance and the Central Association of Co-operative Unions, among others.

Sybyl Limited has a regional presence in East Africa, in countries namely Kenya, Uganda, Rwanda and Tanzania.