Banking for SACCOs

With automation of daily operations, SACCOs can simplify processes to focus on members and service. MobiFin CBS will also reduce the expenditures related to licenses and implementation services for on-premises installations system and cut-down the infrastructure costs with system operation and maintenance support.

By Embracing Oracle® RDBMS SACCOs can leverage high-level security features and anti-money laundering features to have a more robust and high- availability IT infrastructure with minimum disruption to business. This prevents SACCOs from losing revenue due to fraudulent activity, which could lead to the loss of members owing to trust difficulties.

SACCOs can leverage the solution’s In-Built Support for Banking Laws, Regulations and Validations. MobiFin Core Banking System automatically generates the required reports for regulatory bodies like central bank, including financial statements, asset and liability reports, NPA reports, and large currency transaction reports. It helps SACCOs to avoid repetitive operations and to devote extra time to offer better services for members.

MobiFin CBS empower SACCOs to expand their outreach through process automation and deliver seamless services to the unbanked populations in remote and sparsely populated areas. The solution also provides a comprehensive view of every member’s profile, and the overall financial transactions between the member and the SACCO.

This Core Banking Solution eliminates the requirement of a specialized technology team and system operators and facilitates support services in emergency and critical situations for SACCOs, that generally have limited IT capabilities. SACCOs can also have complete access to the system, including training and upgrades on future versions.

MobiFin CBS’s applications (retail, corporate), multiple delivery channels (ATM Interface, Mobile Banking, On-Line Net Banking), peripheral applications (credit and market risk, anti-money laundering, treasury, regulatory reporting, cash management, data warehouse, customer relationship management, document management), and transaction switching offers SACCOs to integrate with these multi-delivery channels with ease.