CIO Zone

Riby Inks Deal with Microsoft to Strengthen Financial Service Delivery for Cooperative Societies, Unbanked, Government

Founder/CEO, Riby, Salami Abolore
Founder/CEO, Riby, Salami Abolore

 

SEYE JOSEPH

Riby, a finance technology company that provides simple and smart finance management platform for cooperative societies to manage their financial activities has inked a collaborative deal with the software giant, Microsoft, to strengthen Riby’s capacity in delivering best services to the unbaked and government agencies.

Founder/CEO of Riby, Salami Abolore said told financialtechnology in an exclusive interview that what propelled the partnership deal was the organisation’s quest for service and growth expansion.

“We had 150,000 users on Riby but today, we have 470,000. We have seen an indication that greater things are coming and there was need for expansion to cater for the needs of more people that will come onboard. We need Microsoft’s institutional support and thankfully Microsoft has come onboard to support us”, he explained.

He added that, “Microsoft will support Riby with agents, volunteers, and probably give us innovation grants. We will also get support in terms of programmes we have some of the states in Nigeria. We will get certain resources to enable us use Microsoft core services pro bono”.

Abolore explained further that the organisation is building agro database for various states based on the agro cooperative societies in those states while the states would receive all the agricultural produce and resources.

“This kind of things require certain kind of analytics which Microsoft will power and it would be hosted on Microsoft Cloud. We are also looking at the possibility of Microsoft helping us with investment”, he said.

With the five years projection to attract over 20 million people onboard, he mentioned that the Microsoft partnership would play prominent role towards ensuring that the target is met within a short period of time.

“For us, we are going to be the leader. In terms of how we think of our products and how we structure our partnership, that will be beneficial to everybody.

“We want to have an open platform that will enable everyone to come together and make sure that everybody in the value chain is well compensated. It’s going to be a lot of work to do but it is achievable”, he explained

According to him, Riby’s success is hinged on having “a compelling value proposition. The two solutions we have are access to finance, and a better finance. We have proved that to the minimum customers that have used our system. The testimonial is going to speak for itself”, he said.

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