Wednesday, December 23, 2009
By James Achanyi-Fontem,
The Executive Director of Azideriva Ltd UK, Dr. Ajua Tasong launched a new state of the art Micro Finance Solution Suite, labelled as Azideriva FL7X, in Douala, Cameroon on the 22nd December 2009. Two major events including training on IT use of the software and a news conference were associated to the launching.
Azideriva Ltd is a leading provider of micro finance, capital markets solutions and services based on appropriate technology principles. The software solutions are integrated with open source software, which results in substantial cost savings to customers.
Dr. Ajua Tasong told the audience at Akwa Palace Hotel that Azideriva software solutions are designed and specifically tailored to cut unnecessary consultancy and other overhead costs. The off the shelf Micro Finance Solution Suite is also highly adaptable, easy to install, and can get a new client fully integrated and running with very minimal need for training.
The off-the-shelf product, Azideriva Micro Finance Solution Suite helps micro finance organisations to effectively manage customer accounts, loans, transactions, reporting, as well as day to day running of their business with a lot of easy. Azideriva Micro Finance Solution Suite enables the client to improve efficiency, minimize risk, reduce operational cost, and also improve confidence and customer experience, the software engineer explained.
During the practical session, Dr. Tasong showed how the Azideriva Micro Finance Solution Suite has in-built expert systems features, which enables easy accounting, checking of loans and transactions management with the creation of industry standard reports covering various formats.
The off-the-shelf product, Azideriva OTC Trade Confirmation Suite enables the creation, and also processing of industry standard FpML messages for direct computer-to-computer real time electronic trading, matching, and confirmation of derivative products. This supports seamless integration to electronic trading platforms such as DTCC Deriv/SERV trade information warehouse.
The Azideriva OTC Trade Confirmation Suite automatically validate all messages against FpML and DTCC Deriv/SERV schema rules prior to dispatching thus minimising errors and processing cost. The software can get a customer fully integrated with DTCC Deriv/SERV trade information warehouse through direct computer-to-computer real time messaging using the Azideriva OTC Trade Confirmation Suite from as little as one day of integration period.
During the press conference, journalists wanted to know the difference between Dr. Tasong’s invention and the software currently used by banks in Cameroon and Africa as a whole. He explained that though Azideriva software solutions operate like existing tools used in the United Kingdom, Europe and the United States of America, it is less costly compared to what the banks are using.
To get the banking software, a person will need several tens of millions CFA, but the Azideriva software solutions is very cheap.
Journalists observed that the new invention apparently can be used not only by the banking institution and that it could be deplored in universities for managing records of students and in the health sector, it could be used in collecting and analysizing research data.
Before the training proper, the micro finance corporation managers has echoed their expectations, which included
• a better understanding of the solutions proposed by Azideriva for better management of Cameroon micro finance institutions.
• Increased reduction of risks during management and consolidation of accounts reporting.
• Easing of management of customers’ files and accounts.
• Increase the number of customers using micro finance throughout the country
• Reaching out to international funding organisations by working in partnership with Azideriva Ltd.
• User friendliness, reliability and sustainability of the Azideriva software within the COBAC finance region
• Usage of the Azideriva solutions for managing local micro finance groups and NGO staff.
• Reduction in cost of exploitation and charges.
• Increase in the management skills of micro finance staff in Cameroon
• Reduction of risks and errors in banking and accounting of customer files.
Following an evaluation conducted at the end of the training and interactive workshop, all the above expectations were considered as met by the training. The participants at the workshop, who came from Yaounde, Douala, Buea, Melong, Mutengene, Limbe, Tiko and Menji in Lebialem solved to pass on the knowledge they acquired, while raising money to reach for their copy of the micro finance solutions software from Azideriva Ltd.
The workshop was covered by journalists from The Sun Newspaper, Lebialem Community Radio, Dynamic FM Radio, Correspondent of Farm Radio Interntional Canada, Radio Veritas Catholic FM, Canal 2 Tv, Equinox Tv, Cameroon Tribune, Le Jeune Enqueteur, Cauris City FM Radio, Vision Economique and Cameroon Link.
As the journalists left the news conference, they were told that the property rights of Azideriva FL7X are registered in England in conformity with the business law of the United Kingdom. Any piracy of the software will be attack to the British business system.
Profile of Dr. Ajua Tasong, CEO of Azideriva
Dr. Ajua Tasong is Cameroonian born British. He has over 13 years of UK industry experience in “The City” (London Financial Centre), ICT, process design, and engineering. He is the Managing Director of Azideriva Ltd (www.azideriva.com). Dr. Tasong has accumulated a strong knowledge in capital markets, IT, process design, and engineering. Dr. Tasong is an expert in providing IT solutions for improving efficiency, minimising risk, and reducing operational costs within banking organisations. Previously, he worked as a Consultant within the global capital markets business areas where he was responsible for implementing strategic electronic trading, matching and confirmation solutions at major international banking organisations based in the United Kingdom, Europe, and USA. Dr. Tasong has also held various research and academic position at the University of Reading and also at the British Geological Survey. Dr. Tasong holds a BSc Hons degree from University of Leeds, and a PhD in Civil Engineering from The University of Sheffield in Britain.