CEO Weekends: Kenya’s AllenHark Group Signs a $33M Deal With Berlin’s Mambu to Bring Banking 3.0 to Kenya.

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True story. The AllenHark Group has signed a partnership deal with Germany’s Mambu as their innovation & integration partner for East Africa in a move that will see AllenHark take local banks into the cloud with easse.

AllenHark’s Allensuite Banking 3.0 Platform will use Mambu’s exceptional Cloud Banking software-an all-in-one Integrated Banking platform targeted at Banks, MFIs & Credit unions in the region.

The Allensuite Banking 3.0 is expected to be the new banking model that would enhance service delivery to customers, cut technology spending for organizations and increase their visibility into their operations. Allensuite has a Core Banking System (Mambu) pre-packaged with Mobile Money integration, SMS Banking, Automated Payments Disbursement and even a GPS visualization engine for Data-driven customer acquisition.

“All this functionality will be available on day 1. No more long integration processes that take months. Everything works seamlessly right out of the box.” says Kageni Wilson, Founding Partner, AllenHark Group.

Unlike other Core Banking and MIS systems which cost anywhere from 50 million to 500 million shillings to acquire, Allensuite has no upfront cost. but has a pay as you go option making it incredibly affordable.

AllenHark supports stores customers data in redundant data centers which means there is no risk of losing access to it and comply with the highest standards of security as our system is ISO certified and independently audited by both Ernst & Young and KPMG to ensure it is secure.

According to Mambu’s Chief Operating Officer Mr. Frederik Pfisterer, “This solution was built with Africa in mind and for areas where connectivity problems exist, the system has an offline mode for devices through which agents on the ground can conduct business and automatically sync with the rest of the system whenever connectivity returns.”

The $33 million (Ksh. 3.2 Billion) deal will run for the next 5 years and will see AllenHark help Mambu run its cloud banking system locally for financial institutions in East Africa. Kenya’s Premier Credit is one of the firms already using the platform. Premier Credit has over 13 branches and serve over 11, 000 customers and have already expanded into Uganda where they have another 5, 000 customers and counting.