Group Savings and Lending solution from Modefin
SUMMARY
Group Savings and Lending from Modefin is a forward-looking solution designed for Banks which wish to promote financial inclusion. Helps onboard customers in the lower income segment, or those in the periphery of the formal financial sector. Enables Group members to borrow for expenses, make miscellaneous payments, or avail funds for a contingency arising from adverse circumstances. For members wanting to save and earn interest, ensures safety of principal and transparency in operations.
value proposition Why Modefin’s Group Savings & Lending
Online portal for registration, migration and management of members.
Enables online appointment of a Treasurer - authorised to act on a member’s behalf.
Treasurer can make payment to a supplier, bank loan or a monthly contribution payment
Treasurer can impose fine or penalty on a member for not honoring a commitment.
Member can view Records pertaining to savings or borrowing, ensuring transparency.
Instant alerts through SMS and email to the member about deposits and lending
Manages the member’s loan lifecycle cost-effectively and with in-built flexibility.
USER CASE STUDY Award Winning Investment Club App
To learn more about Group Saving & Loan Solution download our brochure
Insights
Success Stories
Universal Merchant Bank Ghana
Universal Merchant Bank (UMB) is a leading indigenous bank in Ghana which offers a diverse range of financial services to meet the banking needs of its customers.
Equity Bank Kenya
Equity Bank Fuels massive Transformation; migrates 3.5 mn SIM application Tool kit users and brings flexibility, stability and cost savings.
Featured Blog Posts
Savings and lending groups, also known as Chamas, have long been a
In the rapidly evolving world of digital finance, banks and financial institutions
Quality Assurance (QA) professionals are the unsung heroes of the software development
