Musoni
What Is Musoni?
Musoni is the leading digitalisation partner for microfinance institutions across the globe, helping organisations to leverage the latest technology and digitalise their operations. By using Musoni, MFIs are better able to improve efficiency, reduce costs and grow their client numbers while maintaining a strong portfolio quality.
Musoni has consistently proven their ability to help MFIs to digitalise in under 12 months with their cloud banking system and digital field application.
Who Uses Musoni?
Financial Institutions, Microfinance Institutions, SACCOs, Retail Banks, Credit Co-operatives, Asset Finance Companies.
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Reviews of Musoni
Duko
Intuitive and fast/responsive loan management system for both simple and complex portfolios
Comments: Musoni is a great, solid and fit-for-purpose system with a knowledgeable and responsive team. SYPO has been able to serve thousands of clients faster and through innovative (eg, mobile money) products because of the functionality and flexibility provided by Musoni.
Pros:
+ Fast interface + Option to keep the system simple for simple portfolios, but ability to build out for more complex portfolios + Intuitive processes + Good customer service and willingness to tailor product for individual customers + Decent dashboards and report functionality + Great and well-maintained integration with mobile money and telecom providers (eg, seamless processing of mobile money transactions, SMS messaging)
Cons:
- Occasional lack of text / info fields on loan and client pages--which instead can only be accessed through report functionality (eg, reason for write-off) - Occasional outdated reporting functionality (eg, xls format, strange cell merging) - Limited self-serve loan processing automation (eg, algorithmic loan decisions or recommendations)
Musoni Services Response
2 years ago
Thank you Duko for the warm feedback. We love working with you in Uganda and have always been impressed by the strength of the team and continued growth of the company. Fantastic that you benefit from the mobile money integrations already in place, and have been able to improve efficiency & reduce risk as a result.
Randall
Top Class Support and Great Value for Money!
Comments: Musoni offers top class customer service support to ensure that we are then able to serve our end users with minimal disruptions. Their Help Desk and support teams are super proactive and each engagement that I have had with them makes me feel like they understand us and are really there to help us solve our pain points. They are continuously listening to feedback from customers like us and have been quick to deploy updates to the system that we have found to be very helpful in driving overall productivity of our business.
Pros:
The interface is simple and intuitive which means that less time is required for training staff both for staff on the back end, as well as those in the field who interface with the clients. The digital field application has been very helpful in increasing the overall productivity of our staff and we have been able to realize a dramatic reduction in stationery costs on account of the automation of the end to end loan process. The software also offers significant capability for customization to meet specific business requirements. The per customer pricing structure is also a definite plus because it is flexible enough to ensure that the marginal cost of the software is aligned to revenue growth, and therefore does not burden the business with a strict up-front fixed cost that would prove very expensive if the business does not scale rapidly.
Cons:
The UI while simple enough could be updated to have a more modern and fluid feel. The analytics should also be considered for additional improvements over time.
Musoni Services Response
2 years ago
Thank you Randall for the thoughtful and detailed review. Really appreciate you taking the time and will make sure to pick up your recommendations as part of the ongoing development (both are actually already on our roadmap). Thank you in particular for the praise of our customer service - we always aim to take a personal touch and have passed on the message to our support team!
Verified Reviewer
Musoni Product Review
Comments: Improved business efficiency; achievement of our digital inclusion goals for clients and staff alike; accurate reporting and data export that meets business needs; etc.
Pros:
Using this product at Standard Life Organization has given us the flexibility of managing several loan and savings products to suit our internal processes. The use of the DFA and CFA gives both our staff and clients alike the convenience of carrying out transactions seamlessly.
Cons:
The minimal features on the CFA is a serious downside to the extension of digital services to the unbanked.
Musoni Services Response
2 years ago
Thank you for the positive review, especially on the high quality of customer support. I am sorry you are frustrated by the minimal functionality on the CFA. The Client Facing Application (CFA) is deliberately meant as an entry level application and designed to be taken over by the organisations using Musoni who can then add their own specific functionality.
Raphael
MUSONI SYSTEM REVIEW BY JITEGEMEA CREDIT
Comments: I overall experience have been good with Musoni cant complain.
Pros:
That is cloud-based can be accessed from anywhere provided you have internet connection and integration to their custom-made field officer app which make it easier for officers to operate from the field. The client app also makes it easier for the client to be able to access his loan details & saving details as well as apply for loans in real-time. I also like the reports being easy to retrieve or schedule for the management team and not forgetting the easy integration of the various system through their open APIs.
Cons:
Lack of 2FA which I believe they are working on with projected implementation first quarter of 2022.
Musoni Services Response
2 years ago
Thank you Raphael for the positive review. Excellent to hear that Jitegemea has fully achieved all your intended goals, including digitalisation with the SMS module, CRB integration and M-PESA! Pleased to be supporting you :-)
Lovemore
Musoni Core Banking System is the only digital way to go
Comments: Loan queries ,allocation of resources, addressing turn around times, less customer complaints
Pros:
It has various features that make it usable for end users ,system admin, mobile apps and loan officer field app, working on off line mode helps where there is no connectivity. Musoni is easy to integrated with other third parties like payment gateways, websites, credit bureaus, virtual assistants or bots
Cons:
Failure to offer loan origination on their mobile app like uploading documents etc
Musoni Services Response
2 years ago
Thank you Lovemore for taking the time to write such a positive and detailed review. Great to hear you are fully utilising the digital field application and our open APIs for third party integrations.
