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Microsoft, WOCCU support SACCOs with digital solutions to improve SME lending in Kenya

Microsoft, WOCCU support SACCOs with digital solutions to improve SME lending in Kenya

by | Feb 4, 2022 | Africa, General, Microsoft Kenya

Microsoft is working with the World Council of Credit Unions (WOCCU) to support Savings and Credit Cooperatives Societies (SACCOs) with digital finance solutions to improve and increase credit union lending to small and medium enterprises (SMEs) in Kenya.

The company held a two-day ideation workshop with 16 SACCOs in Mombasa seeking to understand the digital transformation challenges faced by the lending sector. With a strategic partnership execution program drawn to address the concerns raised during the event.

SACCOs SME lending Kenya

Microsoft says digital transformation will firstly build trust among members and improve loan repayments. Secondly, It will enable informed decision making on members or clients. Thirdly, the transformation will enable better credit scoring letting SACCOs manage risks and improve their bottom line.

Microsoft announced an MoU with WOCCU last year to help accelerate digital transformation within the savings and credit sector. Where both parties will work to establish a framework for the digital transformation of SACCOs in Kenya. Microsoft will leverage programs to close the skills gap and develop a training curriculum to accelerate the adoption. It will also identify local partners to support the development of solutions and business strategies within the sector. Whilst WOCCU will deploy its TIFI lending methodology and SME Finance Toolkit.

“COVID-19 has accelerated the need for SACCOs to evolve and embrace digital channels. Empowering them to embark on this journey is not only critical to their sustainability but also the key to unlocking further growth potential within the region,” said Megan O’Donnell, WOCCU Vice President of Financial Inclusion. 

Both organizations will develop a proof of concept that can be tested and deployed once they meet sector demands.

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Microsoft AI Hack for Financial Services Industry (FSI)

Microsoft AI Hack for Financial Services Industry (FSI)

by | Apr 1, 2019 | General, Microsoft South Africa

AI Hack

AI Hack for FSI

Microsoft is calling for proposal submissions to its AI Hack for FSI hackathon. The aim of the Hack is to showcase how Azure AI services can improve our lives and experiences through AI in the FSI industry (Financial Services Industry). It is also to facilitate the creation of innovative prototypes that leverage AI and Machine Learning Services in the Azure Cloud.
If you are a newcomer or veteran to Azure Cloud services then this is the right opportunity for you to showcase your talent and build something innovative to improve the world.

Facts to Note

Microsoft is a leader in AI and Machine Learning and have the tools and platforms to help empower every person and every organisation to achieve more.


– Deadline for submission of proposal is 11 April 2019.
– Successful proposals will be notified by email by end of day 15 April 2019.

– Hackathon wrap-up event will take place on the 15 and 16 May 2019.
– Awards will be provided to the top 2 teams.

AI Hack
Microsoft AI Hackathon

What is a Hackathon?

A Hackathon is an intensive competition of brainstorming, computer programming, engineering and innovative thinking that draws together the talent and creativity of people from different disciplines. It can be described as an event where a group of developers, designers, programmers, students and so forth come together at a specified venue and work together in teams to collaborate on projects. It also provides a unique environment for learning and experimentation.

Why is Microsoft hosting this hackathon?

Microsoft is hosting this hackathon to facilitate the creation of innovative prototypes that leverage AI and Machine Learning Services in the Azure Cloud. It is a great opportunity for veterans and newcomers to the Azure Cloud to showcase their talents and build something innovative. Note: All prototypes and ideas generated at the Hack remain the property of the participating teams. Microsoft is only interested in the usage for their AI platforms, not your intellectual property

Click on the link below to submit your proposal to participate in the hackathon.

AI Hack proposal submissions

For full documentation on Azure Open Hackathon AI for Financial Services Industry (FSI) the link below should be useful to you.

Azure Open Hackathon AI for Financial Services Industry (FSI)