Viveo to open an office in Senegal with plans to expand further into Sub-Saharan Africa

20 November 2008

Viveo has been present in Senegal for several years, providing solutions for Crédit Mutuel du Sénégal, BNP Paribas Sénégal and BIMAO, among others. Viveo has now decided to expand its business activities and investments in Senegal, a country which is a gateway to other West African markets. Senegal and Sub-Saharan Africa offer exciting development opportunities for a publisher like Viveo. The region has enjoyed a 6% growth rate in recent years and local banks are keen to expand further into the rest of Africa, thereby stimulating demand for suitable tools. Many foreign banks are also planning to set up in the region, where Viveo will face very little head-to-head competition and benefit from its French background, which offers opportunities to forge linguistic and cultural ties. Based on all of these reasons, Viveo’s new Dakar office will open on 15 December. According to Martin Hubert, Deputy Managing Director of Viveo, "The opening of our new office in Dakar underlines Viveo’s strong interest in Senegal, one of the biggest and most dynamic markets in Sub-Saharan Africa. It is also part of our strategy to integrate the local environment by setting up operations with a local workforce who understands the specific challenges involved and will ensure the marketing and implementation of our solutions."

Meeting new challenges faced by Sub-Saharan banks with a targeted approach and solutions
Viveo's strength lies in its approach and range of software solutions which will help stakeholders in the Sub-Saharan African banking sector meet regulatory requirements (anti-money laundering measures, etc.), and "business process" challenges (development of e-banking, building customer loyalty, micro-finance, etc.). Viveo has more than ten years’ experience of operating in the region, and has already successfully managed fifteen projects. Another advantage for Viveo is its V.bank solution, considered to be the most successful global banking software package on the European. This unique fully-integrated banking solution is function-rich and based on the very latest technology. V.bank responds to the key challenges faced by African banks, helping them reduce operating costs, rapidly develop new products, improve security and production quality, and offer customers a coherent range of services. V.bank will enable African banks and the subsidiaries of foreign companies to manage and optimise every facet of their business, particularly their customer relations. In a bid to guarantee the best service possible, Viveo has also formed local partnerships to help provide its integration, support, consulting, help desk and training services.

An expanding and targeted international development strategy
With more than 750 clients in over 30 countries, including prestigious names such as Citibank, Barclays and Banca Intesa, Viveo is now focusing its international development strategy on new high-potential regions such as West Africa (Senegal, Ivory Coast), North Africa (Algeria, Morocco), Eastern Europe (Romania), and Southeast Asia (Malaysia, Hong Kong). "As the flagship of our publishing business, V.bank is central to the development of our international development strategy and a major growth lever for our company," explains Martin Hubert, Deputy Managing Director of Viveo. "Having acquired a leadership position in the publishing sector in French-speaking countries, we now wish to go even further and become an international publisher with operations across the world, based on internal and external growth. Our ambition is to become one of the world's top five publishers in the banking sector within three years."

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