SACCO & MFIs
This is a software product for supporting Micro-Banks, SACCO, MFI and SHG operations.FinE-Xtreme is a highly configurable computer application for the Management and Execution of Business Processes. It combines Financial Management and Accounting, Production Management and Customer Relationship Management. FinE-Xtreme is fully developed and owned by local Kenyans who are well aware of the Business process and challenges of the Kenyan and International SACCO market, MFIs and banks.
Automated Teller Machine (ATM) Services.Using our ATM Solutions, your clients can withdraw funds from their SACCO,MFI or Bank accounts from any VISA Electron- or MasterCard- branded ATM in the world as the case may be. Locally, our VISA solutions are authorized and approved by the Co-operative Bank of Kenya, while the MasterCard authorization is through PesaPoint Limited.
Besides accessing their funds, clients can also use their ATM cards as regular Debit Cards to pay for their products in Supermarkets, Restaurants all business establishments where a regular Debit Card is accepted.Our ATM solution is among the best-rated in the country and is not only used by FinE-Xtreme but also by other solutions provided by other vendors.
Provision of SMS BRIDGING MODULE INTERFACE.The module enables connectivity between FinXtreme SACCO software and the SACCO members’ mobile phone dedicated enquiries giving selected details of their accounts particulars both in back and front office. These functionalities include:Individual Fosa Account BalanceEnquiryIndividual Bosa Account Balance EnquiryEnquiry of Loan Application StatusSalary Credit NotificationsOther non cash functions
Balance InquirySalary Credit AlertCheque Maturity AlertLoan Credit AlertGuarantor Notification AlertRejected Loan AlertATM Card Collection AlertUtility Payment Deposits/Shares PaymentLoans And Advances PaymentDeposit To Savings AccountBulk Customized Messages to Members e.g Annual Delegates MeetingDelinquency Loan Alerts
Maintenance of Staff PayrollPayroll CalculationLeave and other HR related Maintenance modulesMonthly Reports e.g. pay slips, statutory deductions, etc.Annual Reports e.g. P9, P10, P10a Tax Reports, etc.
Transfer funds to and from MPESA,ZAP, Yu-cash and other mobile servicesPerform balance enquiryReceive account status informationMake instant loan applicationsMake utility bill payments e.g. payment of electricity and water billsReceive SMS alerts for special events e.g. guarantor notification
In today’s changing environment, Sacco organisations globally are faced with conflicting challenges; to reduce costs while offering improved Sacco services to member's that expect better and better services. Most Sacco organisations operate using either manual paper based processed or a mix of different technologies and systems that have been developed over a long period of time.Sacco’s therefore need to be able to transform the way they deliver and manage Sacco services by providing innovative solutions based on modern, intuitive, integrated and internet enabled technologies such as, through wireless, mobile, internet or local area connections using the most appropriate access device ( PC, laptop, Tablet PC, PDA, phone). Any solution offered need to exploit the opportunities offered by the latest technological advances to fulfil the urgent needs of Sacco organisations. Our Web interface employs a robust strategy as outlined in the diagram.
Offsite backup, which is also known as remote backup, is the process of backing up important computer data and files to a server or other storage device located in a separate physical location.In our quest to address risk management, we discovered the need to house clients’ data offsite in effort to minimize/eliminate data loss as result of fire, theft, etc.
The project is to enable connectivity between Back end Sacco software and the value added products facilitated by various financial technology providers.The POS,SMS & Extreme Connect Banking module has been fully developed and certified. The project enables a Sacco that is running a computerized back end system to have its members be able to withdraw and deposit from there FOSA accounts through Mpesa, Airtel, YU, etc product.It also enables members to perform queries through SMS and to receive notices through system activated SMS alerts.
KUSCO has been at the fore front in frequently evaluating our SACCO software alongside other vendors’ in an effort to establish the best fully parameterized and standardized fit off-the-shelf software for SACCOs. This has helped us to implement the most suitable IT solution, provide best user training including continuous investment in skills and resources in order to benefit members affiliates.
We have an accredited project with Co-operative Bank of Kenya in the development of a BRIDGE, branded FinBridge that connects the Co-op Bank Transmaster ATM switch with our FinExtreme Sacco Software for the purposes of making general transactions that are initiated by plastic cards (VISA CARDS).The project enables a SACCO that is running on Fine-Xtreme software to have its members withdraw funds from an ATM (Automated Teller Machine).Our FinBridge stands out among other software providers.
We have an interface between FinExtreme and PesaPoint’s ATM Switch. This Bridge enables members of any Financial Institution using FinExtreme and is/or interested in partnering with PesaPoint make transactions at any PesaPoint’s ATM Switch.
The Sacco Societies Regulatory Authority (SASRA) is a semi-autonomous Government Agency. It is a creation of the Sacco Societies Act 2008 and was inaugurated with the prime responsibility to license and supervise Deposit Taking Sacco Societies in Kenya.With the objective of protecting the interests of Sacco members and ensuring that there is confidence in the public towards the Sacco sector and spurring Kenya’s economic growth through the mobilization of domestic savings. A key requirement is to implement a standard software solution that helps in tracking members transactions. Most of our clients operating FOSA have been likened by SASRA.
FinExtreme Sacco Software is an internationally recognized product through WOCCU which is the global trade association and development agency for credit unions and advocates on behalf of the global credit union system before international organizations.
Through FinExtreme Sacco Platform, our SACCOs’ clients purchase M-pesa, Orange Money, YU Cash and Airtel Money as conveniently as possible using funds in their savings accounts through their mobile phones. Immediate beneficiaries of the service are the institutions that are running on FinExtreme SACCO M-banking platform.