Impact: Led by the brilliant Salton Massaly, iDT Labs is bringing forth an innovative complete banking as a service solution to Sierra Leone and surrounding countries. iDT Labs is a social enterprise leveraging technology to solve problems of financial and economic exclusion in the West African region. The organization was established back in 2013 with the mission to leverage the “tremendous potential of technology to create access where there is none, reduce information asymmetry and scale solutions to tackle big challenges in the region”.
iDT Labs - Sierra Leone
iDT Labs has put together a staff of 25 individuals skilled in the fields of business and technology. Their team has a great understanding of the need for financial services in the West African region. Their efforts have been acknowledged by awards such as the 2016 Responsible Business Award in the International Disaster Relief Category for their work in creating a biometric verification and payment processing system for 27,000 Ebola Response Workers.
The team at iDT Labs is currently working with financial institutions across Western Africa, and providing them with core banking systems that fit their requirements. Heading into 2017, they are developing EazBank, a suite of core banking solutions that we are offering as both a cloud based subscription service as well as a standalone deployment to microfinance institutions across West Africa.
iDT Labs advises and helps implement financial inclusion strategies for traditional financial institutions who are interested in providing access to the financially excluded. They are the strategic knowledge and technology partners to commercial banks, community banks, and micro-finance institutions, providing core banking systems, mobile financial services, digital payments facilitation, payroll management and other value-added services to these institutions.
iDT Labs is currently developing a prototype that aims to use mobile money agents to kickstart the adoption of DFS in Sierra Leone, and are in talks with a number of leading investors in the fintech space for launching the pilot of the project. The team has assisted in the deployment of government payments systems, judiciary case management systems, and large scale document management solutions to the cloud. Additionally, the team has developed and operates a cloud based SaaS platform to help West African small and medium sized enterprises enjoy the efficiencies of automating while the costs and pitfalls of off-the-shelf proprietary systems. Learn more.
iDT Labs provides core banking systems to financial institutions who are devoted to providing financial services to the poor and the unbanked. With the systems and services that iDT Labs provides, the financial institutions can re-distrbiute their resources and time to members of their community and grant them access to financial services.
Contributing to the Community
Salton and his team are fully committed to the community and are working on contributing back enhancements they’re making. They are proud supporters of answering the queries and helping other developers, as well as opening up developed modules to the greater community with proper documentation so that others can build upon the solutions as well.