Group Savings & Lending is a comprehensive solution that empowers banks & SACCOs to provide their customers with an app to manage and run an investment club with ease and flexibility. This solution helps to bring out transparency into financial group administration and automates the record-keeping process thereby helping the SACCOs & investment groups to efficiently manage their activities and transactions. The platform is accessible online through both desktop and mobile making it easily accessible for all the group members.
By leveraging Group Savings & Lending, the treasurer on the system can effortlessly handle the different payments made to the investment Group. These payments include contributions payments, penalty payments, customer payments, supplier payments, special deposits, member loan payments, and bank loan payments.
Features
Financial Management
Helps the members of a group to keep track of their finances from incomes & expenses to profits & losses.
Membership Management
An online portal allows for registration, migration, bulk registration, and management of members.
Bank Account Management
It helps to record bank transactions from withdrawals to deposits and transfers and allows for easy reconciliation.
Expense Management
Provides a holistic view of expenses and makes it easy for the group to track the expenses as and when they occur. Eg. Land Purchase, Paying for services
Project Management
Easily track the expenses of a project and the contributions required from the members.
Loan Management
Manages the complete loan lifecycle cost-effectively and flexibly.
Financial Reports
Presents a robust report on group data through pre-configured and system-generated reports which can be downloaded in multiple formats.
Penalty/Fine Management
It makes it easy to impose fines on members for multiple categories and link them as per the bank’s business rule.
Alert and Notification
Intimates members of the group through SMS and email alerts about deposits and lending.
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