RenMoney MFB Limited is a consumer finance organization that focuses on the provision of simple money solutions for individuals. They specialize in applying class-leading analytics and expert risk and operations management to the business of retail lending in Africa. RenMoney operates in Nigeria under a Micro-Finance Banking license.
RenMoney signed an agreement with GDS in July 2015 for the provision of a Decision Engine for Origination hosted on Amazon cloud. RenMoney went live in September 2015 and the integration with Mambu, their core Banking platform, was smooth and successful. For RenMoney , going for Cloud technology has resulted in a fast project execution and delivery, which was one of the main requirements. They didn’t have to bother about technology procurement and installation thus concentrating their efforts on real business challenges and requirements. In the last two years their credit application volumes have increased significantly and they have recently decided to upgrade to a newer and richer version of Decision Engine.
GDS Modellica provides decision management solution that will help automate Mambu processes like credit decisions or customer management. Through a seamless integration between both platforms, clients will benefit from smarter decisions that will lead to improved customer service and operational efficiencies. Key benefits for clients are:
- Automate decision making
- Control of business rules and decision strategies
- Speed, accuracy and consistency across growing volumes
- Support for expanding and changing business and regulatory conditions
- Integration and scalability in existing infrastructure
- Consistent common platforms across multiple business units
- Flexibility to incorporate more sophisticated data sources in decisioning