Closing Remarks on Cybersecurity with Kanzu Banking
November 1, 2023
Pen and Paper are error-prone. And only you understand that Excel sheet.
Keeping track of your investment club’s records in an Excel sheet is a lot of work (but the other members don’t seem to know it!). Making sure the records are up-to-date and error-free can quickly turn into a full-time job and since you have other work, creating accurate reports in time for meetings is stressful. As if that’s not enough, if you aren’t there, no one knows their savings or loan balances!
Keeping track of your investment club’s records in an Excel sheet is a lot of work [but the other members don’t seem to know it!]. Making sure the records are up-to-date and error-free can quickly turn into a full-time job and since you have other work, creating accurate reports in time for meetings is stressful. As if that’s not enough, if you aren’t there, no one knows their savings or loan balances!
Keeping track of your investment club’s records in an Excel sheet is a lot of work [but the other mem- bers don’t seem to know it!]. Making sure the re- cords are up-to-date and error-free can quickly turn into a full-time job and since you have other work, creating accurate reports in time for meet- ings is stressful. As if that’s not enough, if you aren’t there, no one knows their savings or loan balances!
Creating useful reports takes time.
It is hard enough reconciling all payments that have been made; it is even harder coming up with multiple reports that show a 360 degree look at the SACCO's financial health. On top of that, you need to send each member their personal statement. The days leading up to meetings have you working overtime to have things in order.
Creating useful reports takes time.
It is hard enough reconciling all payments that have been made; it is even harder coming up with multiple reports that show a 360 degree look at the SACCO's financial health. On top of that, you need to send each member their personal statement. The days leading up to meetings have you working overtime to have things in order.
Are those records secure?
While it has never happened before [and hopefully, never will], what would happen if that Excel sheet were compromised? When was the last time you backed it up? One compromise means your SACCOs entire financial history is either gone tampered with. How do you recover from that?
Are those records secure?
While it has never happened before [and hopefully, never will], what would happen if that Excel sheet were compromised? When was the last time you backed it up? One compromise means your SACCOs entire financial history is either gone tampered with. How do you recover from that?
Getting loans approved takes several days
It is tough finding time to breakaway, review and approve loans. When you factor in that at least two of you need to do this, your SACCO member eventually takes several days waiting for a loan they urgently needed. They might even have to borrow from elsewhere as they wait for all the approvals to be completed. Not cool.
Getting loans approved takes several days
It is tough finding time to breakaway, review and approve loans. When you factor in that at least two of you need to do this, your SACCO member eventually takes several days waiting for a loan they urgently needed. They might even have to borrow from elsewhere as they wait for all the approvals to be completed. Not cool.
How can we help?
Kanzu Banking is a digital platform that simplifies the process of managing your SACCO, VSLA & investment club. Our web and mobile channels make it possible to:
Track member savings & loans from the web and using our mobile app
Receive SMS notifications for changes to one’s savings/loan account(s)
Access select functionality over USSD.
Track member savings & loans from the web and using our mobile app
Receive SMS notifications for changes to one’s savings/loan account(s)
Access select functionality over USSD.
View a comprehensive suite of reports.
Benefit from automated back-ups & regular system updates to keep in step with changes in technology.
Distribute dividends to members.
View a comprehensive suite of reports.
Benefit from automated back- ups & regular system updates to keep in step with changes in technology.