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:…
Managing transaction reconciliations manually can be time-consuming and prone to errors. This Automated Reconciliation Feature allows users to upload Mpesa or Bank statements in CSV, Excel, or PDF formats, ensuring a seamless and accurate reconciliation process. How It Works Once a statement is uploaded, the system validates its format and structure, then automatically matches transactions…
Managing multiple group accounts efficiently is essential for financial institutions that oversee several groups, each with its own bank account. This Automated Fund Settlement feature streamlines fund collection and distribution, ensuring accuracy, efficiency, and transparency. How It Works This feature allows funds to be collected into a single bank account and then seamlessly allocated to…
The system now allows for configurable subscription-based pricing, enabling tailored plans to suit diverse business needs. The subscription fee is automatically collected from the WBA (Wakandi Business Account) amount. Subscription-based pricing has two components. These are fixed and variable costs.
There are significant enhancements to the ‘Add Member’ page and the member import functionality, aimed at improving user experience and data management efficiency. Some fields are mandatory, while others are optional and can be added later by the admin. The mandatory fields on the ‘Add Member’ page have a red asterisk, as shown below.
The Wakandi Business Account (WBA) is a dedicated platform designed to support SACCOs, MFIs, and other financial institutions in managing their financial transactions and records. It provides a centralized hub for tracking account activities, making payments, and generating statements, all while ensuring transparency and efficiency. Steps to Download the WBA Statement Wakandi allows users to…
The Holiday Management feature provides financial institutions with the flexibility to manage interest collection during holidays and working days. Institutions can adjust interest rates on holidays, either applying standard rates or waiving them entirely. Additionally, this feature allows them to configure working days by excluding weekends or other non-working days, ensuring alignment with operational policies….
Integration of Mpesa with our Wakandi Business Account (WBA) platform is now complete. This enables financial institutions admins to top up their WBA using the STK push feature easily. This integration simplifies the process, making it more convenient and efficient to manage your account. Key Features: Follow the below steps to top up WBA successfully…
Fees vary from one financial institution to another. They range from Registration fees, management fees, Insurance fees etc. Some fee amounts could be high for a member to make lumpsum payment. This feature allows members to pay the fees in manageable fees overtime. Once a member logs in their member app, below are the steps…
The SMS Unit allows administrators to purchase SMS credits directly from the WBA balance. Automated Credit Deductions Paid vs Free Messages User Alerts for Credit Management