MICROCAPITAL BRIEF: iTrends to Offer iBanker Financial Software Free to 12 Nigerian Microfinance Institutions

Posted by Aaron Wee in Category: Africa at 11:18 am

iTrends Software, a Nigerian software company based in Lagos, is accepting applications for free licenses to use its financial management program, iBanker, which will be made available to twelve Nigerian microfinance institutions. These microfinance institutions will not have to pay software license fees but will be responsible for training and implementation costs.


The standard software license fee for iBanker is NGN 2.65 million (USD 16,900). Training and implementation fees cost around NGN 570,000 (USD 3,640).

iTrends CEO Mark Melton, stated that he hopes that “the savings from this free license (will be used to) better service the poor, by offering affordable services such as low interest micro loans.” [1]

All Nigerian microfinance institutions are eligible to apply for this offer and can register their interest at iTrends’ website.

About iTrends Software: iTrends Software Limited is a Nigerian software company that provides microfinance banking solutions. Their flagship product, iBanker, was designed in-house to cater to the needs of Nigerian microfinance institutions. They also provide SMS (text messaging) and email notification add-ons for small and medium-scale enterprises. As of November 2011, iTrends operates offices in Lagos and Gombe. Information on iTrends’ customer base is unavailable.

Sources and Additional Resources:

[1] iTrends November 3, 2011. http://www.itrendsoftware.com/free

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Take advantage of the offer. Go to www.itrendsoftware.com/free to register. Cool!


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