Contact person: Business Client

Phone:Show

Email:Show

Location: Nairobi, Kenya

Budget: Recommended by industry experts

Time to start: As soon as possible

Project description:
"Building of a cooperative/ sacco platform wiht the below modules and functionalities which bascially can act as a digital core banking platform.

The following is a brief description of various modules.
1. Members Module – Deals with members’ onboarding and management including, digital KYC and IPRS integration, access restrictions, credit profiling, beneficiaries and many more. With our mobile first approach, a SACCO can automate member registration data collection through our robust registration module in the Mobile Application.
2. Loans Products Provisioning and management - Creating loan products, loans applications, appraisals, approval, guarantee, security fees and charges, disbursements and repayments in line with the lending policy. All member loan product consumption is available via self service platform on the App. Additional access is available for staff initiated access. Our ‘Open SACCO’ approach allows members to track their loan application, approval progress, balance details straight from their phone.
3. Document Management and Collateral Management – Allows uploading and organizing of various supporting documents for members, loans, collateral and beneficiaries.
4. Perform Accounting functions – Define, categorize, create charts of accounts in line with the laid out business process. Create and post journals, approve postings, upload bulk postings, automatically post transactions received from integrated paybills and other bank accounts. The system is able to automate over 90% of the account posting when configured in line with the SACCO business processes.
5. Budget formulation and controls – Formulation of annual budgets based on historical revenues, costs and balance sheet items. Budget projections can be done as a percentage of the prior year performance based on prevailing economic situation.
6. Employer module – Allows creation of employers and attaching members to their employers as well as defining their employment and payroll details
7. Automation of Payroll Deductions (PRD) – Automatically generate payroll deductions for all members based on subscribed services and products as per employers
8. Automation of Dividends and Interest payouts – Automatically generate dividends and interest payouts as per the declared interest rate
9. Manage Human Capital – Creating staff accounts, giving permissions based on roles, managing access and security
10. Generating Reports and Business Intelligence Analysis - Provide an interface to generate various configurable management and regulatory reports including all SASRA reports.
11. System Audit – Tracking various activities in the system to ascertain all actions are in line with expected business processes.
12. Monitoring WALLET transactions – Provides an interface to monitor all debit and credit trisections which can be drilled down by user and time filters.
13. Provisioning and Configuring saving schemes – Allows creation of different saving schemes including; Share Capital dependent schemes, interest earning, non-interest earning, benevolent funds, etc
14. Managing MPESA payments – Monitors received and disbursed MPESA payments, with ability to initiate reversals by authorized users.
15. System Configurations and Setup – Allows customizations of various unique organizational parameters in line with a Co-operative’s unique business processes.
16. SMS Alerts and Communication – Automatically sends configurable SMS alerts on loans application, payments and defaults as well as account deposits and withdrawals. Staff with relevant permissions can also send group and individual SMS right from the system." (client-provided description)