TECHNOLOGY loan applications through the use of tablet devices , where photographs of documents can be taken , simplifying the process . The development of a smartphone app is also a customerfocused innovation Microcred is proud of , which will work without a data connection . “ The number of smartphones in Africa is rising ,” adds Moniotte , “ but many people who have a smartphone don ’ t have constant access to 3G or 4G , they have really limited access .” The company ’ s launch of SMS based service Baobab was also named Best African Retail Company in 2016 , enabling clients to gain confirmation for every transaction . There are now more than 800 Baobab service points in Madagascar and Senegal . Moniotte adds : “ It ’ s about understanding how we can put out digital products , digitise our business and channels whilst serving clients sustainably .”
However , Moniotte is aware that the company is unable to build such innovative products and platforms alone . A partnership with Software Group was key to have a technology that supports the innovation , as it has allowed to build tailored digital user experiences . “ They are quite excited by our ability to innovate , how close we are to our clients and the ideas that we come up with ,” explains Moniotte . “ We are on a journey to create a very different kind of business in terms of how it can be valued by the market .”
FUTURE GROWTH Microcred has taken approximately
Denis is CTO and Chief Innovation Officer at Microcred . Denis leads the financial product innovation , resulting in readyto-scale innovative products for financial inclusion . The innovation process comes from orchestrating customer research , product development , scoring algorithm development , UX design , piloting , business planning . With his team , he has delivered innovative loan and saving products and new delivery channels .
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