MICROCAPITAL BRIEF: Homeless International Purchases T24 MCB Banking Software from Temenos

Homeless International, a UK-based nonprofit housing consultancy and finance agency that focuses on reducing urban poverty in Africa and Asia, has purchased T24 MCB, a cloud-based core banking software platform that was developed for the microfinance and community banking (MCB) segment by Temenos Group AG, a software company based in Switzerland. Temenos’s software is expected to assist Homeless International to expand and grow its client base from 16 clients to approximately 50 without an upfront investment in technology hardware.

The T24 MCB software runs on the “Windows Azure” platform from US-based technology provider Microsoft. MicroPlanet Technologies, a service provider that focuses on microfinance institutions (MFIs), will provide Homeless International with support in its migration to the T24 platform.

As of December 2013, Temenos reported total assets of USD 920 million and total revenues of USD 468 million. Financial information on Homeless International is not publicly available.

By Alíz Crowley, Research Associate

About Homeless International

Established in 1987 in the United Kingdom by the National Housing Federation, Homeless International serves as the international charitable arm of the federation. Homeless International aims to improve the living conditions in urban slums in Africa and Asia. It also aims to improve sanitation facilities and access to clean water in urban slums. In order to achieve its goals, the organization works with 16 partner organizations in Africa and Asia as of 2014. It also provides technical assistance and funding to housing projects. In 2013, Homeless International supported projects in Angola, Burkina Faso, India, Kenya, Malawi, Namibia, Nepal, Pakistan, Philippines, Sri Lanka, Tanzania, Zambia and Zimbabwe. Financial information on the organization is not publicly available.

About Temenos Group AG

Temenos Group AG (Aktiengesellschaft, a corporate form that is mostly used in Austria, Germany and Switzerland) is a Swiss banking software company. Founded in 1993 and listed on the Swiss stock exchange, Six, Temenos provides banking systems for retail banking, corporate and correspondent banking, universal banking, private wealth management, Islamic banking, and microfinance and community banking. Headquartered in Geneva, Temenos has 58 offices worldwide and works with approximately 1,500 financial institutions in 140 countries as of 2014. The company’s T24 for Microfinance and Community Banking (T24 MCB, formerly known as eMerge) software has been at deployed at 117 microfinance and community banking sites in 41 countries. Based on the firm’s T24 Software for traditional banking, T24 for MCB comprises: group lending, exception-based payments, contract-based and account-based lending, flat-rate lending methodology, investor funds tracking and credit union functionality. As of 2013, Opportunity International is working with Temenos to customize Temenos’s “insight” product in an effort to measure the social impact of financial services. As of December 2013, Temenos reported total assets of USD 920 million and total revenues of USD 468 million.

Sources and Additional Resources

[1] Temenos Website, Homeless International chooses Temenos’ SaaS solution

MicroCapital, March 18, 2013, Opportunity International Hires Temenos to Customize its Insight Software to Document Social Impact

MicroCapital, December 6, 2012, Renaissance Credit (RenCredit) Launches in Nigeria; Will Offer Deposits, Point-of-Sale Consumer Loans Using T24 Banking Software from Temenos of Switzerland

MicroCapital, January 25, 2012, K-Rep Bank of Kenya Spends $600k on Temenos IT System to Integrate Branch Data

MicroCapital Universe Profile: Temenos Group AG

MicroCapital Universe Profile: Homeless International

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