Coretec Solutions Africa is a dynamic market leader in providing capacity development solutions and strategy innovations to professionals and financial institutions. We sat down with the company to unravel the move taken by the management to aid Saccos in the fight against the novel coronavirus pandemic.
Q. First, thank you for taking the time to respond to the questionnaire. Tell us about Coretec Solutions Africa Company?
Coretec Solutions Africa is a leading Kenyan IT Solutions and Services company with a strong international presence across the African continent. We offer innovative and added-value solutions of the highest quality to SACCOs and Microfinance Institutions.
Q. What kind of solutions have you lined up for Saccos and other financial institutions?
We have CoopMIS which is a dynamic and agile cloud-based SACCO and Microfinance Management System with; core banking, business intelligence, document management, Finance management, HR and payroll, just to name a few of the modules.
We also have M-SACCO which is a mobile banking solution currently used by over 50 SACCOs and over 700,000 members. It has an android and a USSD code *346#
We also have Agency banking solutions and ATMs for SACCOs.
As Microsoft Gold Partner, we also offer Dynamics 365 as a solution to the financial institutions. We have had a lot of success stories providing the solution to SACCOs due to our vast experience on the product and how we tailor it to fit the needs of a SACCO.
Q. Tell us your experience in the service provision to financial institutions?
We have served SACCOs across Africa for over 15 years which gives us a clear understanding of challenges faced by cooperatives and we come up with agile solutions tailored to solve such challenges and others that may come in the future.
We were the first Tech firm to introduce Sacco mobile banking solution because we saw the need, and currently, M-SACCO is the most used SACCO Mobile Banking solution with over 50 SACCOs on board.
Q. What makes you different in your line of duty?
Considering all our product portfolio, we have end-to-end solutions catering to all that a financial institution may need. Looking at the pricing factor, we provide SAAS therefore SACCOs only pay for what they use.
Q. How do you intend to grow Sacco operations via your services?
Our solutions are dynamic and can be tailored to solve specific challenges faced by a particular SACCO. This also means that with CoopMIS is a system that financial institutions can use forever since it can adapt to future changes and challenges in the industry.
Q. Covid-19 pandemic has adversely affected Saccos and their operations, how do you intend to cushion societies from this?
We encourage cooperatives to go digital. That is one of the reasons as to why we give SACCOs 30 days free trial of CoopMIS which will help them adapt to the new normal.
Q. What is your role in enabling remote work in the Sacco industry?
We support remote working amongst cooperatives considering CoopMIS is a cloud-based solution and can be accessed from anywhere either by phone, tablet, or a computer. This allows them to serve members as usual without necessarily being in the office.
On the other side, SACCO members can access all SACCO services from their phones using M-SACCO.
Q. Have you ever worked with any Sacco, how was the experience?
We have worked with over 50 SACCOs across the continent. It is a great experience as it gives us the knowledge of how to handle various challenges in the financial industry. We are also pleased to be in the course of empowering people through SACCOs.
Q. What are your target areas in capacity building to enhance Sacco operations?
Providing SACCOs with a dynamic cloud-based solution that can be tailored to solve both current and future challenges.
Q. What is your advice on financial service providers seeking such solutions?
Get the right solution that will serve the specific challenges they are facing. Also, consider ongoing for a cloud-based solution considering its advantages and the current industry trends.
Q. Give us your final word?
All SACCOs should be open to digitization to survive. Change is inevitable and according to our recent survey, members are seeking convenient services above any other thing.