MOBIS Core Banking is a cloud-based storage and transaction management and tracking software that provides standard accounting and reporting functionality. The platform is integrated with 3rd party solutions that allows financial institutions to hold their funds and enable transactions electronically using mobile money integration, to move money between to and from their bank and to utilize SMS alert functionality. End users (account holders) are able to use a USSD platform to send and receive funds, request, receive and repay loans, and check account balances remotely.
Designed with non-bank financial institutions in mind, MOBIS is now widely used in Uganda by Savings and Credit Cooperatives, popularly referred to as SACCOS; a fast growing type of financial institutions that have gained relevance as a financiers-of-choice for many people in Africa. SACCOS are member-owned and command low interest on credit and competitive returns on their members’ savings and are similar in nature to Credit Unions. Ensibuuko is now looking into new African markets for the MOBIS Core-banking System.