We are thrilled to announce a significant enhancement to our statement features: Traceable Narrations on Statements. This new functionality is designed to improve transparency and record clarity by displaying teller-entered narrations across various platforms. Members and staff will now have access to detailed information regarding transactions, making it easier to understand the context behind each…
In our continuous effort to enhance transparency and accountability in our system, we are excited to introduce a new feature: the Loans Written-Off Report. This comprehensive report provides a detailed overview of all loans that have been written off, offering valuable insights for admins. Below are the key components of this new report: Key Components…
What’s New? We are excited to announce a groundbreaking feature in our CAMS: Automated Interest Accrual & Payout for savings accounts. This new capability empowers Savings and Credit Cooperative Organizations (SACCOs) and Microfinance Institutions (MFIs) to seamlessly configure and automate the process of interest accrual and payouts. ⚙️ Key Capabilities 🔄 Flexible Interest Accrual Frequencies…
We are excited to announce a significant enhancement to the interest recalculation logic for loans based on the reducing balance method. This update ensures that interest is accurately recalculated across a variety of scenarios, including: Why is it important? Prior to this enhancement, certain scenarios resulted in inconsistencies in interest calculations, which could lead to…
We are excited to introduce a significant enhancement to our system: the ability to import overdraft (overdrawn) account balances directly! This new feature is designed to streamline the process of managing negative balances, ensuring that institutions can maintain accurate and up-to-date records with greater ease and efficiency. Key Benefits Conclusion This enhancement marks a significant…
We are excited to announce a significant enhancement to our Credit Policies: the “Accrue Interest After Maturity” toggle. This new configuration option empowers users to better manage interest accrual on overdue loans, providing more flexibility and control over financial obligations. Key Features: Interest Cap Configuration With this new feature, users can set a maximum interest…
In a significant enhancement to the Teller Module, a dedicated Expenses Report is now available, designed to streamline expense tracking for tellers. This new feature empowers tellers to independently monitor their recorded expenses, enhancing operational efficiency and oversight. What’s New The Expenses Report provides a comprehensive view of all expenses logged by the teller. Key…
In our latest update, we have addressed a critical bug that affected the visibility of the Loan Officer’s name during the accounts import process. This fix enhances the user experience by ensuring that all relevant data is accurately displayed. Previously, when users imported account files, the assigned Loan Officer’s name was not visible. This led…
We are excited to announce a significant enhancement to our Accrued Interest Report! This new feature now includes closed loans that were active during a selected date range, providing users with a more comprehensive view of interest accruals. What’s New? Benefits Take an example of the closed loan below; You will now be able to…
We are excited to introduce a new feature in our system. The Improved overdue loan detection is a feature that will allow loans to be be flagged as “Overdue” based on specific provisioning rules rather than relying solely on late payment charges. This enhancement will ensure more accurate classification of overdue loans, leading to better…