How we helped Post Bank SACCO automate their processes with Microsoft Dynamics 365

A summary about the orgnisation

Post Bank SACCO was founded and registered in 1981 formed by the staff of Kenya Post Office Savings Bank. Currently, the SACCO has a member base of approximately 1200 majority consisting of Post Bank staff. The Sacco opened its doors to members outside the common bond in the year 2012. As the SACCO grew, they experienced more challenges and they realized they needed to automate their operations for efficiency.

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Objective

Have a whole solution to automate their operations for efficiency and convenience to both staff and members.

 

Challenge(s)/Needs

  • Over time, the number of members increased leading to an increase in members’ transactions. To maintain better quality service to their members, they needed a reliable solution to keep up with the demand.
  • With the increase in members and employees, this meant that procurement activities and resource facilitation would go up. This became a challenge, and being a financial institution, procurement was not their core business.
  • Their member base kept on growing from different parts of the country and across the globe, opening several branches across the country was too expensive with no guarantees on returns hence needed an alternative solution.
  • Paperwork is a trend that many financial institutions are moving away from for environmental issues and document security hence the need for an electronic Data Management system.
  • The Sacco also needed an integrated system to manage the staff and process their payroll in an easy and convenient manner.
  • The Sacco also needed a mobile and online portal solution for their members to enable them to access services anywhere, anytime hence alleviating some workload from their staff.

Post Bank SACCO chose to work with us to solve their challenges because of the success stories of other SACCOs that have worked with us in the past.

 

Solutions

  • With the increased number of transactions, we offered them a BOSA Management module. This was meant to help the SACCO provide members with quick and efficient services despite the increasing numbers.
  • To manage their HR activities efficiently, we included the HR & Payroll Management module for smooth operations.
  • With the increasing number of members across the country, we offered them alternative channels to access the SACCO services. We included mobile banking and internet banking for members to access SACCO services conveniently.
  • We also included Electronic Data Management for accurate data capturing and easy access as the SACCO deals with a tone of data.

 

 

Results

  • With alternative transaction channels for their members, Postbank Sacco was able to cut its operational cost by 40 %
  • Since Postbank Sacco automated its operations, they experienced a revenue increase of 60% through increased member transactions.
  • There has been a number of positive feedback from the SACCO members on customer experience.

 

 

A word from the CEO

Moving with the Digital technology age

Advancement in technology continues to facilitate unique new capabilities with new innovations being released to serve customers better and offer convenience. The business landscape is gradually being shaped by the new realities with Information Technology (IT) bringing rapid changes in the society as a whole and businesses are influenced by the trending technologies.

Here at Postbank Sacco, we have been able to adopt and have a blend of technology with our normal business transactions to better and improve service delivery.

 

Transition to Dynamics 365 System

Since the introduction of the Microsoft Dynamics 365 Business Central, our members have been able to enjoy quality service in record-breaking time. Words cannot better explain how much improvement this system has brought to Postbank Sacco Society Ltd. Every aspect from how the accounts move to how the members are being served has been widely influenced by the availability of the new system.

Some of the improvements as a result of the introduction of the Dynamics 365 system include;

  • The Sacco going fully digital
  • Better handling of members’ accounts
  • Enhanced speed in loan processing
  • Enhanced precision,
  • Pin-point accuracy and uniformity
  • Transparency and accountability

 

M-Sacco services

Since the introduction of M-Sacco, it has become a great innovation for the Sacco creating convenient and effective personal banking solutions for members. This platform enabled us to roll out a new loan product – The ‘Jiokoe loan’.

The platform introduces the ‘do it yourself’ concept that affords members the ability to transact from anywhere, any time, and from their own comfort. Members can make payments, check balances, and transfer funds from the M-Sacco wallet to M-Pesa accounts. In addition to bringing efficiency in terms of access of funds to our members, the Jiokoe loan has greatly increased profitability and increased the loan book.

 

Our journey with Coretec

Coretec has been our partner and support since 2013 when we installed Dynamic NAV 2013 as our core banking system. Coretec has walked with us by providing us with competent and capable support staff in all our activities for the last eight years.

At the beginning of the year 2020, Coretec again supported Postbank Sacco in the upgrading of its System to Microsoft Dynamic 365 Business Central. This was achieved within the first quarter of the year with minimal challenges, the Transition was a joy to implement and we are forever grateful to Coretec for the smooth transition.

Josephine Maingi

Former C.E.O/Postbank Sacco Society Ltd

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