When a teller initiates a loan repayment, the system now automatically calculates the total outstanding loan balance, including: If the payment amount exceeds the total outstanding balance, the following validation error is displayed: “Payment amount exceeds the outstanding loan balance. Please adjust the payment amount.”
A new enhancement has been introduced to enable Overdraft Functionality for Current-type Saving Products. This upgrade offers greater flexibility for account holders while ensuring financial institutions maintain full oversight and control. 1. Overdraft Functionality for Current Account Products Institutions can now enable Overdraft on current accounts during product setup. This is done by selecting the…
We have upgraded the Quick Loan limit setup Previously capped at 100% of savings, you can now configure it up to 999% of the required savings percentage. Steps On How To Set Up Required Percentage Of Savings On Quick Loan 5. Scroll down to Quick Loan 6. Key in the Percentage amount required between 1…
Wakandi has added a download feature to the Online Reconciliation Module to improve your Mpesa reconciliation process. After uploading and reconciling Mpesa statements in the system, administrators can now download the reconciliation data for reference, reporting, or audit purposes. This ensures better traceability and a smoother reconciliation workflow. Video Demonstration
The system now has a single date picker across all types of Loan Aging Reports to ensure consistency in data reporting. All reports reflect the same figures, enhancing accuracy and simplifying analysis. Steps 1. Click on Reports .2. Select Loans.3. Click on Loan Aging Report 4. Click on Calender to select in the Month,Year and…
The system now automatically displays loan officers linked to the selected SACCO or MFI branch. Users can also search by typing the officer’s name, making the assignment process faster, more accurate, and more efficient. Steps 1. Click on Clients on the left-hand side.2. Search for the specific Client you wish to apply a loan for.3….
We have introduced an improvement in fund allotment tracking, ensuring that once a teller’s fund allotment is approved, it impacts both the Cash at Hand and Reserve accounts in the system. This enhancement improves financial traceability, simplifies auditing, and ensures accurate fund movements within the system. Steps To Set Up Teller Fund Allotments Step 1:…
The Teller Reversal feature allows tellers to fully reverse transactions, restoring loan installments to their previous state. This ensures that any erroneous disbursements or repayments can be corrected seamlessly. Additionally, Concurrent Ledger Updates ensure that accounting ledgers reflect the transaction reversal accurately, maintaining precise financial records throughout the process. How to Reverse Loan Transactions Reversing…
The import tool has been upgraded to support additional data fields specific to members, enhancing profile accuracy and streamlining data management. These updates ensure more comprehensive member records, improving financial tracking and operational efficiency. New Data Fields Added ✅ National ID: Captures the member’s official identification number.✅ Occupation/Business Type: Records the member’s profession or type…
This feature allows administrators of financial institutions to quickly unblock users who have been temporarily locked out due to multiple incorrect PIN/password attempts. By restoring access promptly, it ensures seamless transactions, minimizes disruptions, and enhances the user experience while maintaining a secure and flexible authentication process. Steps 2. On the client details, click Unblock. 3….