By Our Reporter
CoreTEC Systems & Solutions is the leading Mobile (Digital) Financial Service Application provider company in country’s Sacco sector.
In a recent survey conducted by Sacco Societies Regulatory Authority (SASRA), the firm ranks at the top of the leading companies in provision of digital technology to Saccos.
According to 2017 Sacco Supervision Annual Report, the firm serves 29 Saccos, the highest number for a single company.
According to SASRA, Saccos have continued to embrace the use of mobile phone technologies and related applications in order to enhance the widest possible reach of their members.
This is particularly more prominent in the provision of deposit and withdrawal financial services; as well as limited digital credit services by a few Saccos.
“Over 120 Deposit-Taking Saccos are already connected using one mobile application or the other, with the majority being connected to application systems provided by Core Systems & Solutions Ltd,” said SASRA.
CoreTEC’s highly skilled consultants have extensive business and technology experience and able to offer solutions to challenges Saccos face of high capital investments associated with putting in place adequate ICT infrastructure, cyber-security measures, as well as employment of qualified and competent ICT professionals to support the Sacco’s Management Information Systems.
SASRA noted in the report that the adoption and usage of digital financial services by Saccos had gone up.
“Saccos have no option, but to heavily invest in their uptake of digital financial services. This will improve convenience and ease accessibility of their financial services in order to remain relevant and competitive,” said SASRA.
The Regulator noted Saccos should have their core deposit-taking services such as application for memberships, opening of accounts, application for and approval of loans and deposits and withdrawals among others, at the minimum, available online and through the mobile platforms.
CoreTEC using, the knowledge from their Enterprise Resource Planning (ERP) consultants, consider existing technology and how it can play an integral role in improving Sacco business processes.
This enables the Coretec team offer recommendations and assistance in implementing the solution that is right for each Sacco need.
The company offers the following help to Saccos inter alia:
• Core team and end
• Business process mapping
• Gap-fit analysis
• Data mapping and
• Quality assurance
• Set up and process
• Permissions setup
• Upgrade services
The company also has a training programme that was started with an aim of providing continuous high quality training services to improve the skills and competences of its clients as well as assess their training needs.
“CoreTEC places a large emphasis on end user training because we believe that a key component of success for the ERP implementation project is to transfer knowledge to system users,” reads the statements at the firm’s website.