Qualica Technologies expands African footprint

4 May 2009 - Q012

Network and application optimisation services company, Qualica Technologies, has supplied its robust payroll deduction-based micro-lending system to Credit Direct Limited, the micro-lending subsidiary of one of Nigeria’s leading banks, First City Monument Bank Plc (FCMB).

This brings the number of African countries into which Qualica has supplied the low-cost VeriLend solution to five - Ghana, Tanzania, Zambia, Uganda and now, Nigeria - with the number of sites at which it is installed to well over 120.

Qualica CEO David Rogers says the VeriLend micro-lending system was designed specifically for the challenges faced by African micro-lenders, particularly those operating in remote areas where connectivity infrastructure is poor or non-existent, and power supplies are unreliable.

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Credit Direct (title and name of person quoted) says the VeriLend solution will have a hugely beneficial impact on the company’s ability to service its clients more effectively while maintaining the integrity of its operations and reducing the risk of fraudulent transactions.)

VeriLend allows a lender to operate multiple branches that issue loans independently. All debtor and loan data is synchronised with a central office and, in turn, with all other branches.

“This means that all branches have all debtor and loan data, reducing the risk of fraud and increasing convenience for customers,” Rogers explains.

“However, before a loan can be granted, credit and affordability checks are required. Poor Internet connectivity and power outages, which often prevent branches from synchronising with a central server, make this extremely difficult and can hamper the provision of financial services to local communities in remote areas.”

VeriLend overcomes these challenges by running on low-end hardware and being light on data.

In addition, it uses a distributed system to collate data so that each site does not require high connectivity availability. Rather, the distribution network allows information to be gathered from various branches and to be sent, via satellite, to Qualica's central server in South Africa.

Qualica ensures the integrity of the data and sends the information back to the micro-lenders’ designated branches in their countries.

About Credit Direct Limited
Credit Direct Limited is the micro lending business of First City Monument Bank Plc (FCMB). FCMB is a universal banking institution headquartered in Nigeria and has over 140 branches across the country. It is the flagship of First City Group, Nigeria’s leading comprehensive financial services provider and the bank has two subsidiaries; FCMB Capital Markets (a leading investment banking outfit) and Credit Direct Limited.

About Qualica Technologies (Pty) Ltd
Qualica Technologies is an international provider of optimised network and application services and solutions. Qualica develops specialist Internet applications that deliver measurable business value to blue-chip clients in diverse industries.
For additional information, please contact:
David Rogers, CEO Qualica Technologies (011) 731 1700
Marilyn de Villiers, Troika PR (011) 884 0775