Top mortgage company to unite 21 million workers under Genero and SAP® Hana®

Mexico City, Mexico – July 3, 2017Infonavit, the world’s fourth largest mortgage company, will unite 21 million retirement and mortgage accounts managed by its Genero-based “Individual Account Control System” (Sistema de Administración de la Cuenta Infonavit or SACI) using SAP® Hana®. SACI is developed by Mexican ISV and Four Js’ partner EFP, a specialist in public sector social finance systems. The unification project is expected to take one year.

Rubén Alberto Bravo Piñán
Sub-director Information Technology, Infonavit

“EFP did a fantastic job bulding SACI. SACI enables millions of Mexicans to buy their first home.”

Rubén Alberto Bravo Piñan
Sub-director Information Technology

“Keeping SACI in-step with the scale of regulatory changes and new services is a feat only possible with Genero for a team of our size.”

Héctor Fernándes Arciniega
Technology Director

Thirty core business processes

SACI started life with 14 business processes and was developed and delivered from scratch within budget in just one year. It has since grown to incorporate a suite of 30 core business processes that form the backbone of Infonavit’s entire information system.

Unifying data

Prior to SACI, account management and finance were managed under different systems. This complicated getting workers the information they needed. EFP was selected over SAP to develop SACI to streamline that process into one application. Over 500 out of a total of 4,500 employees use the system.

This latest initiative heralds the next phase of that unification by bringing together data from the different sources that have evolved independently over the last 45 years. Work is now underway to interface Genero wih SAP Hana.

Sixty million accounts

In Mexico, all private sector workers contribute 5% of their salary to their retirement fund over a period of 45 years, making them “rights-holders”. Those contributions return 7% over the life of the account via investments in low-rate mortgages that are granted to lower and middle income households. This helps Mexicans enter the housing market or make home improvements. Over 21 million private sector workers are enrolled in the system for 45 years making a total of 60 million current and active accounts. The SACI application, written entirely in Genero, manages this entire process.

Infonavit – larger than Mexico’s leading bank – provides 25% of all housing finance in Mexico with 650,000 new mortgages every year.

Mexican society benefits

Since its inception in 1972 through the initiative of worker’s unions and business associations, Infonavit has improved the “retirement replacement” pay-out from just 17% at its start, to 47% of a worker’s salary today. The hope is one day to reach 55%. Workers in Mexico are entitled to two other retirement pension sources: the social security and retirement insurance programs.