By Kiptanui Rutto
Improved efficiency will prove critical in the Sacco sub sector as the battle for increased membership intensifies.
In order to achieve that coveted target, the application of technology has come in handy to provide top-notch solutions in the business world.
One of such Information Technology (IT) solution provider that has walked hand in hand with the players is CreditExpress which gives a platform to institutions to manage their loan services with ease through software.
“We have now entered the market and we understand the subsector’s needs. We give you a platform, and as a boss, you control your services from your computer,” noted the firm’s Chief Executive Officer, Maurice Tharao. CreditExpress is Software as A Service (SaaS) that allows Saccos, Chamas or any other lender to grant access to emergency loans using the mobile phone platform and MPESA.
Pre-approved members can get access to short term emergency loans instantly, the credit limit being controlled and determined by the lender, via mobile money at any given time when a need arises as opposed to the conventional manual procedures.
The lender on the other hand will have a web portal where they shall be able to monitor the Loan Origination and Disbursal Data from Member Register, Credit Scores, Loan Applications, Approval, Disbursements, Repayments, Defaults and many more reports.
The Members can now access the platform via USSD but run a Mobile App that will run on Android and iOS.