Ukristo na Ufanisi Sacco Ltd is a Christian-based financial cooperative, which is regulated by Sasra. It primarily focuses on promoting the financial growth of its members through the mobilization of savings and the provision of affordable loans. The SACCO is known for offering a wide range of financial services, including asset financing, mobile banking, savings accounts, and loans tailored to various sectors like business, agriculture, and education.
The SACCO primarily serves SMEs but welcomes all individuals regardless of religious affiliation. Membership is open to anyone who aligns with their goals of financial empowerment, making it accessible to both individuals and organizations.
Ukristo na Ufanisi SACCO has grown substantially, boasting over 39,000 members and an asset base of approximately KSh 2.13 billion. It operates several branches across Kenya, with its head office located in Riruta (Kawangware).
Key Objectives.
- Streamlining operations and service delivery to members.
- Automation of transactions.
- Improve overall efficiency.
- The need for a system that could handle larger transaction volumes.
- Provide members with more convenience through alternative banking channels.
Main Challenges.
One of the reasons we engaged Coretec was to streamline our processes, improve TAT in loan disbursement, and improve member experience. Earlier before engaging Coretec, our processes were semi-manual, and inefficiencies such as delays in loan approvals, difficulties in providing real-time member account updates, and challenges in financial reporting and regulatory requirements.
Innocent Ndetei – ICT Manager, Ukristo Na Ufanisi Sacco.
Implemented Solutions.
- Dynamics 365 Business Central which serves as the core system.
- M-Sacco mobile banking system (both mobile app and USSD code)
- Core-Cash agency banking system
Why the SACCO Chose Coretec?
The SACCO chose Coretec due to its known expertise in financial software tailored to SACCOs. It offers services that automate savings, and loan processes and integrate with alternative channels like M-Pesa, Agency banking, and other service providers API. Coretec has a strong support team and implementation team with a wide variety of skills
During the implementation process, we encountered COVID 19 which was a global challenge, hence affecting the timelines. We had data migration challenges and user resistance to training on new systems and ensuring member adoption of mobile and digital services. Coretec resolved these challenges by providing ongoing technical support, tailored departmental training programs to staff, to ensure a smooth transition and scalability as the SACCO grows.
Innocent Ndetei – ICT Manager, Ukristo Na Ufanisi Sacco.
Results & Key Benefits.
- Time spent in loan appraisal and approvals as well as managing debtors.
- Process automation hence reducing operational expenses.
- Increased revenue and improved overall member experience.
- Membership growth increased by about 10-15% due to improved service accessibility.
- Revenue from loans and interest has increased.
- TAT improved as well as the 24/7 banking experience.
Success Story of a Member.
The Sacco has enabled members to access mobile loans more often at their convenience. During the recent Member education, a Gen Z shared how the faster mobile loan disbursement helped him purchase movie tickets in time. This case highlighted how the digital transformation directly impacted livelihoods.
Innocent Ndetei – ICT Manager, Ukristo Na Ufanisi Sacco.
Client Testimonial
Upgrade to Dynamics 365 Business Central.
The upgrade to Dynamics 365 has been a significant leap forward. It has integrated all our functions into one unified platform, giving us better control over member data, improving communication, and enhancing our financial reporting and human resource capabilities.
One thing to note is that the customization possibilities with this system are vast. As our SACCO continues to evolve, we’re excited about exploring more advanced features to continue improving our member services. If you’re looking for a robust, scalable solution, Coretec Africa will deliver.
Innocent Ndetei – ICT Manager, Ukristo Na Ufanisi Sacco.
