At Kanzu Finance Limited, we lead the charge in revolutionizing financial services for SACCOs and microfinance organizations nationwide. Our cutting-edge, cloud-based core banking platform, built on the award-winning MIFOS framework, stands at the forefront of digital transformation in the sector. With a steadfast mission to democratize financial services, we empower over 10,000 end-users and counting, delivering seamless integration, security, and scalability tailored to the unique needs of SACCOs and microfinance institutions. By leveraging technology, we ensure financial inclusion reaches underserved communities, bridging gaps and transforming lives. Our commitment to excellence has earned trust not only from our diverse clientele but also from major commercial banks who partner with us to extend our solutions to reach the unbanked and underbanked.
Banking is a mobile and web application that enables Investment clubs, Savings and Credit Cooperative Societies (SACCOS) and Microfinance Institutions (MFIs) to manage their portfolios easily and securely. This software meticulously takes care of all the record-keeping and allows these institutions to focus on growing their money. The platform has a cloud-based, web-based solution, USSD and a native Android application to make it easier for clients to transact. It is based on MIFOS, an award-winning open-source core banking platform currently deployed in thousands of institutions globally, from MFIs to banks. Kanzu Code is a MIFOS implementation partner and a core contributor to the platform.
The financial landscape has seen a surge in the development of group savings schemes in Uganda. SACCOs, Investment Clubs and Village Savings & Loans Associations have done a great job at increasing the number of people accessing financial services in Uganda – the unbanked. While these groups do present a number of opportunities for their members in regard to final savings, transactions, investment management, they are also challenged in a variety of aspects, both internally and externally. Internal challenges include: ● Financial portfolio management for their individuals ● Ease of loans and savings access ● Poor governance structures ● High risk of fraud ● Difficulty in Banks doing early identification of the savings groups to support by offering them credit and other necessary support for them to thrive. The banks also need to be able to identify those at risk of closure so that the necessary remedial actions are taken.