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SunGard ties up with Grameen Foundation

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CIOL Bureau
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BANGALORE, INDIA: SunGard, today announced that it has joined forces with Grameen Foundation’s Mifos team to support technology advancement in microfinance.

Through this collaboration, SunGard and Grameen Foundation will also help improve the understanding of technology-enabled microfinance and its impact on accelerating development and alleviating poverty in the world’s poorest regions, said a press release.

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SunGard’s Global Services business has a strong track record of collaboration with Mifos and MFIs in developing countries.

Leveraging its domain expertise and best practices from the financial services industry, over the past three years SunGard has built test environments, procedures and quality assurance to benchmark Mifos’ scalability and extensibility as a portfolio management platform.

“SunGard is pleased to assist Grameen Foundation in its mission to accelerate technology advancement in microfinance in order to bring financial services to more of the world’s poor,” said Mack Gill, president of SunGard Global Services.

He added that the commitment of SunGard and its employees to make a positive social impact combined with their deep expertise in financial technology and to complement Grameen Foundation’s technology initiatives.

”We set out to use open technology as an enabler to satisfy the enormous demand for microfinance,” said George Conard, executive director of Grameen Foundation’s Technology for Microfinance Initiative.

“SunGard’s support, know-how and leadership can help Mifos more effectively scale and penetrate the market,” he added.