The last few years have seen a change in how the financial industry operates in Kenya and beyond. More financial institutions are embracing the use of technology in their daily operations. The need to increase service speed, convenience among others,…
More groups of people are coming together to form cooperative societies and SACCOs. The main aim being financial inclusivity for all, especially the low and middle-income earners. The use of traditional management systems such as excel sheets may work to…
The history of SACCOs in Kenya is , without a doubt, rich. It dates back to the early 1900s. From small farmers’ groups, we now have well organized financial institutions all over country. Population growth and increased financial literacy levels…
Every credit institution aims at meeting the financial needs of all their customers with ease and stimulate business growth. To achieve efficiency, a good loan management system is needed. Challenges in the industry Cost control Poor loan recovery Weak institutional…
The use of loan management software is gradually gaining popularity among lenders and other financial institutions. Lending is allowing someone to borrow something often with an agreement that they would pay back within a specific time. It is a trade…
There are several types of invoices depending out there. According to Investopedia.com an invoice is a ‘commercial document that itemizes and records a transaction between a buyer and a seller.’ An invoice is basically issued to request for compensation for…
Member registration is a crucial process in every financial institution. It is a necessary process before the institution can offer its services to the members. Most memberships allow for individuals to register as entities. However, others require one to belong…
In today’s digitally-powered world, reaching your target audience effectively can be a challenge. Businesses are constantly exploring innovative marketing strategies to cut through the noise. That’s where bulk SMS services come in, offering a surprisingly powerful yet often overlooked method…
People reach out to their phones a number of times a day, opening an opportunity that you cannot afford to miss for your business. More over, studies have shown that SMS have a 90% open rate compared to 20% on…
The financial industry continues to face challenges in the current pandemic. Things will definitely not be the same when it is over as institutions are embracing the use of technology for their operations. Lending institutions, therefore, need reliable loan management…