Core Banking Systems

• Automated SASRA reports – The system has a submodule of account schedules that enables you to map reports to specific ledgers from the chart of accounts.

• Makes financial management easier – Through the generation of financial reports and availability of change logs, CoopMIS enables you to follow through with various transactions such as payments and receipts.

• Can be customized and adjusted to meet your internal operations and needs.

• Bank reconciliation is automated – CoopMIS enables the transfer of unposted entries from the statement to the journal for reconciliation purposes. This makes it easier to reconcile entries from the cashbook (bank ledger) with those from the bank statement manually or automatically with the click of a button.

• Get real business insights with reports. CoopMIS is well vested with financial reports ranging from the trial balance, balance sheet, and budget analysis to the income reports, etc.

• The maker checker/change log, which allows you to monitor the approval process, keeps track of the various approval levels across the departments.

• The dividend process is automated and calculates all parameters involved, i.e., qualifying shares, withholding tax, dividends, interest for the year, and interest on deposit contribution.

• Offers complete dividend reports, i.e., dividend register, dividend statement, and dividend receipts.

• Calculation of depreciation of the fixed assets is automated, saving you time.

• Close income statement is automated. It can record your retained earnings in their preferred accounts and transfer the respective closing entries to the final accounts destination.

• Plan your budgeting better. CoopMIS can check for budget availability whenever a payment is to be given.

• You can be able to deposit to your accounts and repay loans under receipting.

• Availability of multiple receipting – The receipt submodule also enables you to raise one receipt and use it to distribute funds to more than one member’s accounts.

• Reports can be pulled according to departments or responsibility centers. The reports can either be filtered according to branches or different departments.

• Automated unit pricing to avoid fraudulent activities.

• Keeping track of item movements into and out of the store, including cost changes, inventory tracking, and physical inventory calculation, has made maintaining inventory and store administration easier.

• CRB integration helps you in creating credit scoring models for risk assessments.

• Credit reports and the availability of vast data helps you in approving and rejecting loans.

• Change logs enable you to ensure all loans and lending procedures comply with regulations.

• With detailed loan reports, you can maintain records of all loans and monitor loan payments and bad debts.

• Monitor how members repay loans using credit reports.

• Onboard new members at any time from wherever you may be. CoopMIS is cloud-based and accessible at any time from anywhere by authorized users.

• Easily monitor loan performance.

• Faster loan processing and disbursement.

• Save on costs associated with computer hardware.

• Secured environment on the cloud to give you peace of mind from cyber threats.

• Automatic backups keep your data safe as you save time and resources involved in manual backups.

• User sessions are well secured in HTTPS protocol.

• 2FA to ensure only the authorized right users can access the system.