In this article, we talk about the top 5 Sacco Management software. Before we go into Sacco, it is important to note that; only 20 percent of African families have bank accounts. In East Africa, Ethiopia, Uganda, and Tanzania each have less than one bank branch per every 100,000 people. This means that we Ugandans do not do a lot of saving. On the bright side, we are trying to change that with Sacco. But what is Sacco exactly?
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What is Sacco:
SACCO is in full is Savings and Credit Co-Operative. SACCOs (also known as Credit Unions) are member-owned financial institutions that offer both savings and credit services to their members. Members of these financial institutions can be both net savers and net borrowers. Read on as we list our top 5 Sacco Management software.
Related:
Kanzu Banking’s Financial Management software (Software review)
Cinnamon Clubs – Automation Software for your Investment Club (Review)
Top 5 Sacco Management Software in Uganda:
In the list below are the top 5 Sacco Management software in Uganda;
#1. Ensibuuko:
Ensibuuko’s Mobis is built as a cloud-based native microfinance management platform. It is uniquely designed to help SACCOs and Lending companies go paperless and become more efficient by digitizing how they manage customer data and transactions.
Useful features:
- Customers can access their accounts through its internet and mobile banking channels.
- Customers can access their data from anywhere through its cloud platform.
#2. Kanzu Banking:
Kanzu banking’s all-inclusive solution, through web and mobile apps, removes the operational hindrances in tracking your savings & loans, reporting, and collections. It allows you to focus on what matters most – growing your money.
Useful features:
- Its systems are facilitating learning for thousands of learners.
- It has data collection and analysis systems
#3. Savings plus:
Savings Plus is a Core Banking software that manages banking operations for Savings and Credit Co-Operatives (SACCOS), Microfinance (MFIs), Village Banks, and Wholesale Microfinance Institutions of any size.
It has a Cloud Computing framework, guaranteeing 24/7 support for Mobile Banking, ATM Banking, and Internet Banking.
Useful features:
- Saves 90% of the Monthly Inter-branch Connectivity costs
- Enhanced Security
#4. MSacco:
MSACCO is a convenient and effective solution for SACCOs and Microfinance providing mobile financial services to its members and customers respectively.
With MSACCO, members can :
- Make deposits and withdraw money from their respective accounts,
- Make payments to various SACCO products.
Payments to the SACCO via MTN Mobile Money or Airtel Money have now been simplified. Members can also access their funds through INTERSWITCH ATMs and POS (Point of Sale)
Useful features:
- You can monitor the activities on your account by keeping track of your money on the phone.
- You can transact from anywhere and at any time.
#5. Cinnamon Clubs:
Cinnamon Clubs is the premier Investment Club Management software that takes care of the record-keeping details, allowing your club to concentrate on the business of growing your money.
Useful features:
- You can capture and manage members’ biodata and contact information
- It manages loan requests and Approval, Payment schedules, and Automatic deduction for member loans.
Those are the top 5 Sacco Management software.