MX Core
Core banking robust enough for a bank, affordable enough for a SACCO.
End-to-end banking for banks, SACCOs and microfinance institutions — configurable without the customisation invoices foreign vendors are famous for.
What MX Core does
MX Core is the ledger, the loan book and the reporting layer of a financial institution, in one system. It handles member and account management, loan origination and servicing, deposits and withdrawals, transaction processing, interest accrual and the reports your regulator and your board both want to see.
It was built in 2018 for a specific problem: Malawian institutions were choosing between foreign core banking systems that cost more than the institution earned and legacy tools that could not keep up. MX Core is configured per institution rather than customised per institution, which is why a SACCO can afford it and a bank can rely on it.
Modules
- Member, customer and account management
- Savings, current and fixed deposit products
- Loan origination, appraisal and approval workflow
- Loan servicing, repayment schedules and arrears tracking
- Interest accrual and automated posting
- Teller, cashier and branch operations
- General ledger and chart of accounts
- Regulatory, management and board reporting
- User roles, approval limits and audit trail
- APIs for payments, SMS, USSD and third-party systems
Deployment
On-premise or cloud. Institutions with data residency obligations or an existing server estate usually run MX Core in their own environment; smaller SACCOs more often take a hosted instance we manage, monitor and back up for them. The software is the same either way.
Migrating from what you have now
Migration is the part that goes wrong at other vendors, so we treat it as its own project. We start with a data audit — what you actually hold, and in what state — then agree a field-level mapping and a cutover plan, run your existing system in parallel against MX Core until the numbers reconcile, and cut over with our team present.
Timelines depend on data quality and how many systems MX Core has to talk to. We give you a date after the audit, not before it.
In production
MX Core has been live since 2019 with MlimiPay, powering agricultural payments that put seeds and fertiliser on affordable instalments and deliver them direct to smallholder farmers. It is the deployment that proved the system works where connectivity, literacy and cash flow all vary.
Questions
Questions we get asked.
Can MX Core be deployed on-premise?
Yes. MX Core runs on-premise or in the cloud. Institutions with data residency or regulatory constraints usually choose on-premise; smaller SACCOs often prefer a hosted instance we manage for them.
Is MX Core suitable for a SACCO rather than a bank?
Yes — that is why it was built. MX Core is configured per institution, so a SACCO runs the modules it needs at a scale it can afford rather than paying for a bank-sized deployment.
How does migration from an existing system work?
We start with a data audit, agree a mapping and a cutover plan, run parallel testing against your current system, then cut over with our team on site. Timelines depend on data quality and integration surface.
Does MX Core integrate with mobile money?
Yes. MX Core connects to our Payments Gateway for mobile money and card acceptance, and exposes APIs for SMS alerts, USSD self-service and other channels we build alongside it.
See it against your own numbers.
A demo on sample data tells you very little. Bring us a slice of your real portfolio and we will show you MX Core handling it.