Opencanvas Consulting limited and BankBI, a UK-based fintech, are pleased to announce a Memorandum of Understanding (MOU) with the intention to expand data-driven financial and banking performance solutions to Zambian Banks and Financial Services Institutions.
The MOU enables the two organizations to expand the data and analytics available to Zambian financial institutions and enable them to identify operational efficiencies, reduce costs, improve profitability, and help drive and manage performance goals with daily actionable insights and driver-based planning.
"Data and analytics are a key enabler for businesses to thrive in the fourth industrial revolution era. BankBI provides an innovative, data-driven foundation that enables financial leaders in the Zambian banking industry to better manage their overall performance and anticipate organizational change and opportunities. We are excited about the MOU, and the possibility of working with BankBI to offer solutions to Zambian businesses to position them for success in the future."
Fortune Mukuka, MBA, Mcom, Managing Partner of Opencanvas Consulting
Daily Data-Driven Insights for Informed Performance Management Decisions
The BankBI platform enables Zambian financial leaders to better manage their overall financial performance by linking data from internal technology platforms and translating the data into insights that can reduce costs and drive profitability. This includes automation of the regulatory returns to the Bank of Zambia.
"We are excited to partner with Opencanvas Consulting to provide a comprehensive suite of out of the box functionality to further help the flow of information and to allow the Banks and other financial institutions to better manage and grow the business on behalf of their shareholders, employees, and customers."
BankBI International Business Director, Connor Blake shares, adding:
"Because Opencanvas is rooted in the Zambian finance services system, they have invaluable insights for our existing and prospective customers in Zambia."
The MOU strengthens the collaborative relationship between Opencanvas Consulting and BankBI, as they work together to serve Banks and Microfinance groups across Zambia using cloud-based, data-driven, insights into their organizational performance which represents a significant opportunity for the system’s future competitiveness.
BankBI was born out of the desire to deliver the kind of analytics and automated management reporting long desired by the Banking and Credit Union industry, but which conventional methodologies were failing to deliver.
The vision was and is to leverage the efficiencies brought by cloud architecture to deliver an analytics application that is deployed remotely needing no local infrastructure or expensive skills, maintained centrally in a multi-tenant environment, and implemented quickly using a pre-configured data structure.
This finally provides management with the timely, trustworthy information they need, when they need it, and in a low-cost subscription model.
About OpenCanvas Consulting
OpenCanvas is a management consulting firm focusing on financial services, particularly in the areas of business strategy, digital financial services, analytics, and project management services.
Inspired by the great potential that is Africa and its people, OpenCanvas sets out to help its clients shape the future we all want to see on this wide-open canvas we call home and in other global emerging markets.
The company’s services under strategy consulting as a service include critical areas such as product and portfolio strategy; business productivity and operations efficiency; research, feasibility, and impact studies.
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