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Power leverages SoftLedger to create a complete digital banking solution

About Power

Power is a FinTech company headquartered in Kenya. Their digital banking platform provides a comprehensive set of financial services to workers (particularly contractors, uber drivers, and members of the growing gig economy) who need a “one-stop-shop” from which they can access and control their cash resources.

Through Power, companies can sign up and enable their workforce on the platform. Workers receive an app that gives them instant, up-to-the-minute access to their earnings, options to streamline savings and investments, ability to borrow against projected future income, and digitized medical insurance. Power uses the data it gathers and seamless connections into companies and partners with banks to layer their products through the platform to the end-user.

Currently, the company is expanding across East Africa, with an aim to become the preferred platform for workers to manage and improve their financial health across the continent.

The Problem

It is incredibly complex to provide timely reporting on multiple financial service products for tens of thousands of customers. Furthermore, because these customers are located in multiple countries, using multiple currencies there is a need to facilitate partnerships with their local banks as well. This adds another layer of complexity to the financial reporting process.

To solve this problem, Power needs to provide a full digital banking solution. An essential piece of this solution must include accounting for this high-volume of complex transactions, as fast as possible. Given speed is so critical to providing an effective solution for their customers, any accounting ledger must be integrated into their platform and enabled for reporting and accounting across multiple dimensions, cost centres, and partners.

Further, Power knew that their expansion would greatly increase the number of banking partners they were dealing with. In order to provide comprehensive financial statements, they needed a multi-entity solution that could easily segregate and consolidate transactions on a per-country and per-partner basis.

The SoftLedger Solution

Despite the complexity inherent in Power’s business, it only took a few weeks to get SoftLedger up and running for their team. Thanks to SoftLedger’s versatility, Power was able to completely eliminate the need for manual data entry, reducing the risk of mistakes and saving countless man-hours.

In fact, they now report that what used to take three to four hours can now be done in just a few seconds.

"What a wonderful support team that you guys have. The technical integration was smooth, and once we started working it took us 2-3 days to integrate."


We have to deal with a lot of systems from different partners, and most of the time they’re underwhelming. With [SoftLedger] what you guys said you could do has been delivered.

Brian Dempsey, CEO & Founder
Moreover, since SoftLedger was integrated at such an early stage, they’ve been able to build their tech stack around the system rather than the reverse. They have also enjoyed the ease with which SoftLedger adapted to their needs and allowed them to deliver on their promises to stakeholders.

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