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SACCO SYSTEM
BRIEF
By
Tovuti Group Ltd
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About us
WHO WE ARE TOVUTI IN BRIEF
Tovuti group is an innovative IT company whose sole purpose is to
simplify business management via software solutions that are easy to
use, easy to deploy and easy on your budget, yet comprehensive
enough to meet and surpass your business needs. Our main aim is to
ensure your business is not held back by the lack of modern Company Founded Work Presence Projects Done Headquarters
technology. In a nutshell, we provide technology that is designed to OCT 2011 4 Countries 25+ Nairobi
work with and for your business. Technology that is simply
indispensable for any retail business seeking to grow its revenue.
with an aim of improving efficiency, growing the business brand, and increasing efficiency.
VISION
Our vision is to be the preferred retail ICT solutions provider in east
and central Africa with a presence in all the countries in this region
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System Overview
Financial institutions deliver their services to customers through a variety of means
today.
Customers can call direct into branches (teller model)
Customers can organize into groups (or centers) and agree to meet up at a location
and time with Finance Institution staff (traditional microfinance).
A Finance Institution might have a public facing information portal that customers
can use for variety of reasons including account management (online banking).
A Finance Institution might be integrated into a ATM/POS/Card services network
that the customer can use.
A Finance Institution might be integrated with a mobile money operator and support
mobile money services for customer (present/future microfinance).
A Finance Institution might use third party agents to sell products/services from
other banks/Institutions.
As illustrated in the diagram, the various stakeholders leverage business apps to
perform specific customer or Finance Institution related actions. The functionality
contained in these business apps can be bundled up and packaged in any way. In the
diagram, several of the apps may be combined into one app or any one of the blocks
representing an app could be further broken up as needed.
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A loan account can be created for an active client or group based on a loan
product that is active on the submitted date. When a loan account is created,
it inherits the rules and defaults from the loan product. Your financial
institution may allow some of the inherited information to be modified for a
loan account, depending on how the loan product is defined. When a loan has
been repaid in full, regardless of the payment method, its status will be
changed from Active to Closed (obligations met).
The loan account lifecycle is illustrated in the system Loan Account Lifecycle
diagram. Loan account statuses are visually indicated in the system using the
colour scheme illustrated in the Loan Account Lifecycle diagram.
Loan Guarantees
The proposed solution allows for member to self
guarantee or have other members guarantee their
loans. As part of Loan Guarantor definition, the
following will be captured;
Place Guarantee Funds On-Hold This will lock
the guarantors funds for the duration of the loan
Mandatory Guarantee(%): This is to provide total
% of loan amount as mandatory guarantee. Eg 20
%.
Minimum Guarantee from Own Funds(%) Eg, 10
% of loan amount from Own funds.
Minimum Guarantee from Guarantor Funds(%) Eg,
10 % of loan amount from Guarantor Funds.
One or more guarantors can be added to a loan
account application when it is Pending Approved
or Approved. Guarantors may be, but are not
required to be, clients.
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How we do it
We start by brainstorming the needs and We handhold & help you market the solution to We continuously evolve the solution to take advantage
specific challenges of your Sacco existing and new customers. of emerging trends & customer needs.
1. Brainstorm 3. Deploy & Market 5. Keep Learning & Changing
Advancement of customer/
member self service portal
Back office and Customer/ member mobile app
Front office/ development
Teller applications USSD Service integration
MICROFINANCE
Phase 1 SERVICES Ultimately
Were #1 In Customer
We Are Flexible
Satisfaction
We understand that even after a Our customers come first in everything
thorough solution specification, new we do. We ensure that you get support
needs and requirements will always as you need it, when you need it. No
arise. We strive to adapt our solutions limiting or capping of support hours.
to cover any new developments that We understand that when you fail we
are of importance to you. Whether fail too.
introduced after the projects starts or
even after completion.
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Web: www.tovutigroup.com
Email: info@tovutigroup.com
Telephone: +254-736-559570
+254-704-205161