Challenge:
VisionFund Tanzania (VFT) recognized the need to enhance its cash disbursement and collection
channels to better serve its clients for loans and savings mobilizations. Facing inefficiencies
and challenges with existing channels, VFT management made the strategic decision to join a
local bank ATM network, providing clients with greater access to disbursed loans, fund management, and repayments.
Solution:
Our company was subcontracted by RJB Systems Inc. to develop an interface between the
local bank of Tanzania and VFT's core banking system, Temenos T24, to facilitate
this transformation. Our key responsibilities included:
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ISO8583 Protocol Implementation: We implemented the ISO8583 protocol to facilitate
seamless communication between the local bank's ATM network and Temenos T24, ensuring standardized and secure transaction processing.
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Custom Protocol for POS Transactions: In addition to the ISO8583 protocol,
we developed a custom protocol specifically tailored for Point of Sale (POS) transactions,
enabling efficient processing of card-based transactions.
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Card Information Generation: We developed functionality within Temenos T24
to generate card information for VFT's clients, facilitating the issuance of cards for accessing ATM services.
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Transaction Handling: Our solution handled various types of transactions, including customer deposits,
withdrawals, balance inquiries, and funds transfers, ensuring a smooth and reliable banking experience for VFT's clients.
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Web Application Development: We designed and developed a fully functional web application
for users to monitor transactions, reprocess transactions in case of failures, and implement
a stand-in mode to handle transactions when the core banking system is unavailable.
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Automatic Reconciliation: We implemented automatic reconciliation mechanisms to streamline
the process of matching transactions between the local bank's ATM network and Temenos T24, reducing manual effort and errors.
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Comprehensive Reporting: Our solution included comprehensive reporting capabilities
to provide insights into transaction volumes, trends, and reconciliation status,
enabling informed decision-making for VFT's management.
Key Outcomes:
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Enhanced Accessibility: By joining the local bank ATM network, VFT's clients
gained expanded access to cash disbursements, fund management, and repayments, improving financial inclusion and convenience.
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Efficient Transaction Processing: Our interface solution enabled seamless and
efficient processing of transactions between the local bank's ATM network and Temenos T24,
enhancing operational efficiency for VFT.
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Streamlined Operations: Automatic reconciliation and comprehensive reporting capabilities
streamlined operations for VFT, reducing manual effort and providing valuable insights for management decision-making.
Conclusion:
By modernizing its cash disbursement and collection channels through integration with a
local bank ATM network, Vision Fund Tanzania has taken a significant step towards improving
its financial services delivery. The seamless communication between systems, coupled with
user-friendly interfaces and automated processes, has transformed the client experience
and enhanced operational efficiency. With Sysbu's expertise and innovative solutions, VFT
is well-positioned to continue its mission of empowering communities through access to financial services.