Coretec
Solutions Africa is a dynamic market leader in providing capacity development
solutions and strategy innovations to professionals and financial institutions.
We sat down with the company to unravel the move taken by the management to aid
Saccos in the fight against the novel coronavirus pandemic.
Q. First,
thank you for taking the time to respond to the questionnaire. Tell us about Coretec
Solutions Africa Company?
Coretec Solutions Africa
is a leading Kenyan IT Solutions and Services company with a strong
international presence across the African continent. We offer innovative and
added-value solutions of the highest quality to SACCOs and Microfinance
Institutions.
Q. What kind
of solutions have you lined up for Saccos and other financial institutions?
We have CoopMIS which is a
dynamic and agile cloud-based SACCO and Microfinance Management System with;
core banking, business intelligence, document management, Finance management,
HR and payroll, just to name a few of the modules.
We also have M-SACCO which is
a mobile banking solution currently used by over 50 SACCOs and over 700,000
members. It has an android and a USSD code *346#
We also have Agency banking solutions
and ATMs for SACCOs.
As Microsoft Gold Partner, we also
offer Dynamics 365 as a solution to the financial institutions. We have had a
lot of success stories providing the solution to SACCOs due to our vast
experience on the product and how we tailor it to fit the needs of a SACCO.
Q. Tell us
your experience in the service provision to financial institutions?
We have served SACCOs across Africa
for over 15 years which gives us a clear understanding of challenges faced by
cooperatives and we come up with agile solutions tailored to solve such
challenges and others that may come in the future.
We were the first Tech firm to
introduce Sacco mobile banking solution because we saw the need, and currently,
M-SACCO is the most used SACCO Mobile Banking solution with over 50 SACCOs on
board.
Q. What
makes you different in your line of duty?
Considering all our product
portfolio, we have end-to-end solutions catering to all that a financial
institution may need. Looking at the pricing factor, we provide SAAS therefore
SACCOs only pay for what they use.
Q. How do
you intend to grow Sacco operations via your services?
Our solutions are dynamic and can be tailored
to solve specific challenges faced by a particular SACCO. This also means that
with CoopMIS is a system that financial institutions can use forever since it
can adapt to future changes and challenges in the industry.
Q. Covid-19
pandemic has adversely affected Saccos and their operations, how do you intend
to cushion societies from this?
We encourage cooperatives to go
digital. That is one of the reasons as to why we give SACCOs 30 days free trial
of CoopMIS which will help them adapt to the new normal.
Q. What is
your role in enabling remote work in the Sacco industry?
We support remote working amongst
cooperatives considering CoopMIS is a cloud-based solution and can be accessed
from anywhere either by phone, tablet, or a computer. This allows them to serve
members as usual without necessarily being in the office.
On the other side, SACCO members can
access all SACCO services from their phones using M-SACCO.
Q. Have you
ever worked with any Sacco, how was the experience?
We have worked with over 50 SACCOs
across the continent. It is a great experience as it gives us the knowledge of how
to handle various challenges in the financial industry. We are also pleased to
be in the course of empowering people through SACCOs.
Q. What are
your target areas in capacity building to enhance Sacco operations?
Providing SACCOs with a dynamic
cloud-based solution that can be tailored to solve both current and future
challenges.
Q. What is
your advice on financial service providers seeking such solutions?
Get the right solution that will
serve the specific challenges they are facing. Also, consider ongoing for a
cloud-based solution considering its advantages and the current industry
trends.
Q. Give us
your final word?
All SACCOs should be open to
digitization to survive. Change is inevitable and according to our recent
survey, members are seeking convenient services above any other thing.
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