Software Universe Case Study
“We find that offering escrow solutions sets us apart from other technology suppliers. Through NCC Group’s escrow protection we have been able to build further value into our software offering and demonstrate that we are a responsible supplier that truly values our customers. With NCC Group’s support we hope to pass the benefit on to even more of our customer base.”
Dan Mugo, Managing Director, Software Universe
About
Established in 2004, Software Universe Ltd (SUL) provides mobile solutions to a number of key institutions in Kenya.
Customers include; Cooperative Bank of Kenya Ltd, Kenya Women Finance Trust, Family Bank and National Bank of Kenya.
Challenge
Software Universe’s key product offering, the WAP TX integrated mobile switch is relied on by banks to offer 24 hour mobile banking services to their clients.
Features of the platform include; payment and funds transfers, balance enquiries, statement requests and ATM card renewal.
WAP TX is deployed in 8 commercial banks and also offers services to investors at the Central Depository and Settlement Corporation (CDSC).
The WAP TX platform is also used at the Nairobi Stock Exchange to enable investors to receive trade alerts and enquire on the movement of their shares. Highly customisable, WAP TX can interface with most systems used by financial institutions, with the ability to add bespoke functionality according to individual banks needs. Software Universe provides product support, both direct and at a secondary level to users of the platform.
Due to the reliance of banking customers for 24 hour access to their accounts and money, the resilience and continuity of the platform is of paramount importance.
Software Universe’s software may allow banks to develop their customer offering with new mobile services, but the banks themselves do not own or control the source code behind that software, meaning that they would not be able to support and maintain it should Software Universe become unable to do so in the future.
Solution
Software Universe understood the benefits of providing long-term availability assurance to its banking customers and looked for a partner that would enable them to provide this peace of mind.
Following a review of the marketplace, Software Universe partnered with the world’s largest independent escrow provider, NCC Group, to offer escrow protection to its customers.
NCC Group’s software escrow solutions are a smart, simple way of managing risk and demonstrating good corporate governance.
Under the terms of the software escrow agreement, NCC Group holds a copy of the source code behind the WAP TX platform.
By entering into the software escrow agreement, Software Universe is granting its customers the right to access the source code for its applications in the unlikely event that it was no longer able to support or maintain them.
If such a situation was to occur, customers registered to an escrow agreement can apply for the material to be released quickly and safely, minimising disruption and cost.
Results
Working proactively with its clients and an independent escrow provider such as NCC Group, demonstrates Software Universe’s commitment to best practice and building long term client relationships.
“Our WAP TX platform brings real business benefits to our banking customers. We wanted to ensure our ability to support these products in any situation, giving our customers peace of mind and further confidence in our offering,” commented Dan Mugo, Managing Director, Software Universe.
“The principle behind our software escrow offering is clear – to protect all parties involved in the development of critical software and applications,” commented Pete Stock, Managing Director, NCC Group Escrow. “With escrow protection from NCC Group, Software Universe is taking its clients’ business continuity strategies seriously.”
Mugo added: "We find that offering escrow solutions sets us apart from other technology suppliers. Through NCC Group’s escrow protection we have been able to build further value into our software offering and demonstrate that we are a responsible supplier that truly values our customers. With NCC Group’s support we hope to pass the benefit on to even more of our customer base.”