In this article, you are going to learn more about the Mambu core banking system.
You will learn about its features, pricing, and the best alternatives.
Let us get right to it, shall we?
A banking system in which most of the major functions are performed by a single computer.
This is different from a distributed processing environment, where all data and application programs reside on many computers.
The main advantages to an online system are;
And lower maintenance requirements when compared with other systems that have offsite backups or use multiple processors at one site.
Online banking has been evolving into e-banking as some banks allow customers to transact financial business over the internet using their personal computers.
Mambu Core Banking
Mambu is a banking and payments service provider.
They provide an e-banking platform based in Africa, called Mambu Core Banking (MCB).
Their goal has been to enable financial services for underserved communities where banks are hard or impossible to establish.
a) The core system – which provides the basic functions of processing bank transactions.
b) An API Gateway that can be integrated with various partners’ payment systems such as mobile wallets, card networks like Visa or Mastercard, other credit providers, etc., all via a single point of connectivity.
This gateway also enables integration with any external partner’s application programming interface (API).
So that they may use our infrastructure to offer their own services.
MCB is a cloud-based, secure service that operates on any device connected to the internet via browser or mobile (HTML and/or Android).
It can be used by one person in an organization such as a small NGO – all the way up to large commercial banks with vast geographical reach.
The product was launched in 2013 after many months of development and testing, initially targeting Africa but now available globally.
This allows you to track and store all customer account and transaction data with fully configurable fields.
Gives you access to flexible custom views, lookups, filters, and sorting of all data across all object types.
You can use automate SMS, email, and webhooks to keep your customers informed.
Additionally, you can automate collection workflows.
Mambu software allows you to track all activity within the system – from every changed field to every user action.
The Mambu core banking services are offered in three packages:
The MCB starter package includes access to account functions such as balance inquiry, funds transfer within Africa and across borders (e.g., USD/EUR), etc.
While their more advanced Enterprise package provides functionality including Nostro -Vostro reconciliation, trade finance management, and international payments.
As for the pricing, the company hasn’t made public their prices.
And you will have to conduct them to have a quote.
Jisort is an online software allowing bankers, credit unions, lending organizations, and many other financial institutions to manage the clients’ information, keep track of their transactions, generate reports and business statements.
The software has been in operation for nearly a decade now empowering both local and international institutions to manage their finances.
What is more, you can integrate Jisort to other systems such as;
Jisort’s core banking system has no learning curve.
The adoption process has been reduced to as simple as importing sheets from tools such as Excel.
You can Jisort is accessible over any modern web browser, through Android and IOS mobile applications.
Jisort has implemented measures in place to avoid malicious data entry and cross-site scripting.
This should guard your data against attacks like SQL injections among other threats to data integrity.
Additionally, data on the Jisort database is store in an encrypted format.
Barring unauthorized access to the database and keeping your data secure.
Jisort System is also accessed through a 128-bit to 256-bit encryption provided by top internet security companies.
At the same time, Jisort deploys 24/07 system and server monitoring technologies for the safety of clients.
And carries out redundant data backup on daily basis with a restore provision, as an extra layer of precaution.
Jisort comes with two plans for both large and small organizations.
For large organizations with over 10 users (staff using the system), you can pay $20 per user.
Or pay $25 per user for less than 10 users.
This means that if you have say 12 staff using the Jisort system, you will pay $20 for each one of them.
Both plans give you access to;
You can get started for free now.