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Cloud Lending Solutions, the only end-to-end lending platform built natively on salesforce.com, today announced a strategic agreement with BDO Solutions to bring the company’s non-bank online lending platform to East Africa and the Indian Ocean.
Nearly three billion individuals, entrepreneurs and small businesses worldwide are often shut out from traditional banks when trying to secure microfinance funding. The alliance with BDO Solutions offers a significant opportunity to expand Cloud Lending’s suite of software-as-a-service (SaaS) applications to microfinance institutions (MFIs). The platform includes origination, underwriting, servicing, collections and reporting capabilities bringing an efficient solution to manage loan portfolios, increase transaction volume and rapidly bring new products to developing markets.
by Staff Writer (IT News Africa)
“By partnering with BDO Solutions, we’re able to unlock limitations on capital placed by brick-and-mortar institutions in the developing world,” said Snehal Fulzele, CEO of Cloud Lending Solutions. “Our suite of cost-effective and flexible solutions brings financial institutions a core banking solution that leverages the cloud, social, mobile and analytics to bring lending opportunities to these communities.”
BDO Solutions combines industry insight with relevant local knowledge, empowering communities to confront local, regional and global business challenges.
“Across East Africa and the Indian Ocean, individuals, small businesses and communities alike are looking to tap into financial opportunities to create self-sufficient futures,” said Sandeep Khapre, managing partner, BDO East Africa. “Cloud Lending’s innovative lending solutions will help foster that momentum by opening up the economic promise that entrepreneurs in our communities desperately need.”
Cloud Lending Solutions and BDO Solutions will announce their alliance and joint efforts with a road show in Nairobi, Kenya starting March 23, 2015.