The system now automatically aligns loan repayment schedules with a group’s predefined meeting day during loan application, ensuring consistency and easier tracking of repayments. Steps on how to set the group’s meeting day 1. Click on Clients on the left-hand side.2. Search for the specific Group then edit.3. Click on the Group meeting day. 4….
The credit policy update increases the loan amount limit to 12 digits, allowing SACCOs and MFIs to offer loans up to one billion or more. This change enhances flexibility in loan structuring and enables these institutions to expand lending opportunities. Steps on how to set the loan limit 1. Click on Settings on the left-hand…
A new enhancement in the system now enhances the display of interest and outstanding balances, ensuring clearer financial information and preventing overpayment. This improvement allows users and tellers to see only the principal and accrued interest up to the current date, rather than the total interest for the full loan duration. With this update:✅ The…
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…
To enhance borrower flexibility and improve financial planning, we have introduced Bi-Weekly and Bi-Monthly repayment options under our Credit Product Policy. These new tenure options allow borrowers to choose a repayment schedule that aligns with their cash flow and financial commitments. New Repayment Options ✅ Bi-Weekly – Loan installments will be due every 2 weeks…
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….
The system supports configurable automatic loan provisioning, enabling financial institutions to customize provisioning rules to align with their specific requirements. This enhancement provides greater flexibility while ensuring compliance with internal policies, allowing institutions to manage loans more efficiently.
Implementing a PIN on USSD is crucial for enhancing security. It ensures that only the authorized user can access loan applications, by protecting against unauthorized access. This helps to curb fraud, ensures privacy and builds trust. This is an advanced security feature. Users must now create/reset a USSD PIN via the USSD portal before applying…
This feature aims at improving the accuracy and flexibility of loan management. it gives admin the ability to reverse loan disbursements through the teller. This implementation allows tellers to correct errors in loan disbursements under specific conditions. This feature is designed to enhance operational efficiency and reduce the impact of accidental disbursements. Conditions for Disbursement…
Users now have the option to settle their self-guaranteed loans by utilizing the blocked amount, offering them greater flexibility in managing loan repayments. This approach allows borrowers to tap into funds that were previously set aside or restricted, thereby providing an alternative way to make payments without needing to access additional cash or assets. It…