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Kredits Completes Upgrade for Increased Control and Performance at CUMO

DEDZA, MALAWI – January 12, 2012 - Kredits, LLC helped MFI partner CUMO successfully upgrade their systems to Kredits SQL.  In addition, Kredits developed and implemented customized solutions to support CUMO's innovative services and created an interface to CUMO's field-based Blackberry moblie phones for remote data entry.  CUMO has expanded and evolved rapidly in the past several years and this upgrade and customization facilitates timely reporting and decision-making by supporting transaction processing from rural operating centers and enabling CUMO to quickly consolidate data from remote offline branches.

“We originally implemented Kredits at CUMO in 2004,” said Don Eggert, CEO and Co-Founder of Kredits, “and it has been very exciting to be a part of their tremendous growth since that time. This upgrade positions CUMO to meet the challenge of operating in rural environments as they continue to grow and expand their innovative products and services.”

In addition, this upgrade enables CUMO to interface transaction data with their accounting program, providing them with improved internal controls and financial reporting.   The upgrade also will allow for more rapid processing speeds and improved data consolidation through incremental data transfers.

“Please accept our sincerest appreciation,” said Ezikiel Phiri, CEO of CUMO, ”for the way you have customized Kredits to suit what we do and how we do it. The staff and I have enjoyed working with you. With what you have done, we are now able look to the future with a lot optimism.”
CUMO is a non-profit rural microfinance institution that provides financial services, including lending, to people in remote villages in Malawi. CUMO was established in 2000 and currently operates in over 3,500 villages in 13 districts of Malawi and serves over 59,000 clients, 80% of whom are women. Since its creation, CUMO has issued loans to more than 200,000 clients including off-farm micro-enterprise loans, farm inputs finance, funeral and health benefit micro insurance and enterprise training.

About Kredits
Established in 1998, Kredits is a premier technology solution provider to microfinance institutions worldwide. With an outstanding implementation record and a proven ability to support microfinance efforts in multiple regulatory environments, Kredits has been successfully implemented by MFIs in 33 countries across 5 continents. For more information visit Kredits at