Fountain introduces cloud-based banking in Kenya

ID-10053745Fountain believes that using cloud will help reduce initial capital output for start-up costs. (Image source: FreeDigitalPhotos)Fountain Credit Services has introduced cloud operations to the Kenyan banking system, according to a statement from the company

The firm said its Temenos T24 for microfinancing operations, designed to aid the Kenyan banking system, will be hosted in cloud.

According to Fountain, using cloud will help reduce initial capital output for start-up costs as well as reduce operating costs through its “pay-per-use” model.

The company said that the step was taken by Fountain in an attempt to continue its expansion, with new users and branches being added to the T24 system.

Fountain Enterprises Program (FEP) Group CEO John Kithaka said, “We chose the cloud solution from Temenos as they offer a completely managed service and incremental upgrades that meet our demands.

“Our vision for launching Fountain Credit Services was to deliver the best possible services and products to our customers.

“Temenos T24 is a secure and robust system that will enable us to tackle fraud effectively.”

David Arnott, CEO of Temenos, added, “Fountain is a pioneer, being the first Kenyan financial institution to launch a cloud configuration. The technology will add a new dimension to Kenya’s banking system.”

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