Renaissance Credit, a microfinance institution in Lagos, Nigeria, has launched a cloud-hosted core banking system from Temenos.

T24 for Microfinance and Community Banking is hosted in the cloud on Microsoft Windows Azure, Temenos, a provider of banking software systems based in Geneva, said Monday. The cloud-based core banking system allows Renaissance Credit to operate a pay-per-use model, which could help it scale its IT infrastructure as it expands into other African regions.

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