A core banking system is a software that manages financial institutions through their processes and deliverables. CORE, in this case, stands for Centralised Online Real Time Environment, signalling its functionality, medium and actionable timelines. The system has 3 interfaces: the system administrator, group administrators and the group members, each with their own functionality that reflects their clearance level. It can onboard a lot of people, which is suitable for a mid-size to large-scale SACCO. If you want to get more or on-board the Flynta CBS on your platform, reach out, and we will help you set it up.

Key Functionalities

Account Management

Create user account, invite and manage members and manage Chama/ SACCO functionalities.

Loan Management

Setting loan conditions, processing loans, schedule payment timelines and administering fines.

Record Keeping

Generates, collates, analyses and recommends fund usage, and possible opportunities arising.

Centralized Operations

Manage all the Chama and SACCO activities, administering appropriate actions.

The Core Banking System Processes

Onboard

The sign up process that validates your usage, Chama Targets and your end-goal.

Manage

Take care of any administrative and financial processes for posterity.

Grow

Use the available information to develop, grow and source for opportunities.

Empower

Explore financial inclusion on a large scale and grow capacity for more.

Why Choose Us

Real-Time Optimization

Our system runs on a strong Secure Socket Layer Technology making it safe and secure.

Progressive Growth

We are more than a SaaS Software; our platform guarantee socioeconomic growth.

Secure

All processes are easy to use and understand, with less non-technical terms.

Why Your Chama or SACCO Needs Flynta’s Core Banking System

SACCOs and Chamas are digitising, and the best way to go is to get a reliable Core Banking System to run their operations. It embodies their processes, deliverables and data management, which is a significant factor in growth and development. It not only gives your organisation direction, but also builds its profile and credibility. For argument's sake, most of the banks in Kenya and East Africa started off as either Building Societies or Table Banking Groups. This means that if you grow your Chama and SACCO on financial best practices, you can be the next bank within our generation.

Flynta has two types of Core Banking System options: the Managed and Outsourced CBS.

Why the Managed System is Preferable

The managed CBS is where you sign up to our system and allow us to manage the deposits, withdrawals and other transactions. All transaction to and from the bank carries our business name, and we charge based on the transaction. This model is suitable for Chamas and SACCOs starting out, and do not have either the expertise or infrastructure to run their financials. It is a plug-and-play strategy, with negligible operational cost, ideal for startups. The benefits are reduced operational costs, training sessions on financial inclusion, and professional help during scale-up. You also get investment opportunities available for Chamas, and later on, facility allocation based on the creditworthiness.

Growth Signals for the Outsourced Core Banking System

When your operations are big enough, and you have the technical ability to run the system, your chama moves to the outsourced criteria, where the funds land directly to their bank account. They can transact without any issue, but Flynta is there to offer system support whenever needed. As opposed to the bulked charging based on withdrawal amount, the outsourced criterion charges a percentage on revenue as administrative fees. Once you hit over KES 100,000,000 turnover and have a CPA as the lead financial resource, we offer to help you migrate to the outsourced bouquet.

The Future of Financial Inclusion through Core Banking System

The art of funds-pooling and consistent growth needs a more stable system for automation and management. Flynta’s Core Banking System is meant for that, and can offer both managed and outsourced services. Information obtained from your activities prompts your chama to get further assistance as a prop to financial inclusion. From opportunities to grants and development aid, there is a lot in store for dedication and consistency. Join Flynta CBS today, and watch your Chama/SACCO grow exponentially.

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Join thousands of chamas already growing with Flynta CBS.

Core Banking System for Modern Day Chamas and SACCOS