Quipu, a 100% subsidiary of ProCredit Holding, is an IT consultancy and software development company providing customised support services to the ProCredit group of banks and other financial institutions. The company evolved out of the IT department of IPC – Internationale Projekt Consult GmbH. From its inception, IPC invested in developing software that would both support its consulting activities and provide optimal technical support to financial institutions operating in developing countries and transition economies. In line with the operational scope of the institutions at that time, the software was initially tailored to support micro and small business lending activities.
Quipu GmbH was established in March 2004. The intention behind forming a separate company was to increase the transparency and accountability of the IT services provided to the ProCredit banks. For the first several years, the new company concentrated on consolidating its internal structures so as to ensure long-term sustainability. Since then, Quipu has continuously adapted the original software to accommodate many new banking services, while also developing new tools and applications in response to the growth and expansion of the range of services offered by the ProCredit banks and other financial institutions supported by Quipu.
Given Quipu’s integration and identification with the ProCredit group, it made sense for ProCredit Holding to acquire the company at the beginning of 2011. In a rapidly changing world, technology plays a central role for bank clients, for efficient banking operations, for risk management and for the ability of banks to respond to the evolving demands of regulators and auditors. As such it was a valuable step to integrate IT development and support fully into the core business operations of the ProCredit group. Today, as its IT service provider, Quipu offers uniform solutions to ProCredit banks and facilitates the centralisation of many of its operations. Quipu thus continues to play a central role in the ProCredit group.
In the meantime, Quipu has expanded its clientele beyond the ProCredit group, and now serves other financial institutions in various emerging economies. To guarantee an optimal level of support for its customers, especially with respect to maintaining their operating software, Quipu has established five regional offices located in Central America (San Salvador, El Salvador), South America (Bogota, Colombia), Africa (Accra, Ghana) and South-Eastern Europe (Skopje, Macedonia and Kiev, Ukraine), as well as a development office in Moscow, Russia. The main role of the specialists working in these offices is to provide direct support to the customers in the neighbouring countries. In this capacity, Quipu staff assist the banks with their daily operations, de-bug software applications, perform periodic database checks, develop new reports and design new banking services on a continual basis.