Cloud banking
Why Nigerian microfinance institutions are moving from desktop software to cloud core banking
Zenus Team ·
The PC in the branch is the bank. When it fails, or the person who knows the password leaves, operations stop. Here is what changes when the core moves to the cloud.
The single-PC problem
Most microfinance institutions in Nigeria still run their books on a desktop application installed on one computer, a spreadsheet, or a manual ledger. Backups are manual and often forgotten. Updates need an engineer visit. Head office waits for emailed reports, and a customer can only be served in the branch where the account was opened.
What cloud core banking changes
With a cloud core, the application runs in the browser at every branch and on the field officer's phone. Backups are automatic and off-site. Updates are released centrally, so every branch is on the same version. Head office sees the consolidated books live.
The objections, answered
Internet outages. A well-designed core is light, and postings are idempotent, so a retried submission after a dropped connection cannot post twice. Field batches are submitted for approval rather than posted live, so a weak signal never leaves a half-posted transaction.
Data ownership. Insist on a database per institution and a full export on request. If a vendor cannot give you both, keep looking.
Cost. A subscription replaces the licence lump sum, the server and the engineer visits. Ask for public pricing.
What to look for
- Double-entry posting with a general ledger counter-leg on every customer transaction
- Maker-checker on every approval
- Value date and entry date on every posting, with a controlled backdating window
- A field application with an approval queue
- Migration of your customers and balances included
Related solution
Core Banking Solution
