Kenya has one of the most robust and dynamic SACCO (Savings & Credit Cooperatives) sub-sectors in Africa and indeed, the world. Over the years, SACCOs have grown to become key intermediators in the financial services space, celebrated for their role as mobilizers of savings and providers of affordable credit to many.
With most SACCOs moving from pure BOSA (Back Office Service Activity) to what is popularly known as FOSA (Front Office Service Activity) operations, many of them are now able to receive deposits from their members and have them access the same on demand. In essence, many SACCOs (at least 172 in Kenya, currently) are banks in all but name, offering the full portfolio of banking services.
In such a context, the need for secure, efficient and convenient transactions by members is critical. This can be achieved through the installation of robust and integrated technological platforms that can serve members seamlessly, 24/7, while protecting the SACCOs from the risks that come with their role as custodians of members’ funds.
PYCS' SOLUTION TO SACCOS
PYCS offers the following range of services to elevate SACCOs’ service provision to their members:
Payments (Bank transfers & Mobile money)
This is an online SMS gateway that enables SACCOs to send a single or multiple SMS straight to a member/client’s mobile device.
From transactional to promotional messaging, SACCOs can utilize this service to improve their outcomes.
They are also able to reduce their operational costs, be it transactional SMS or promotional messages via our user-friendly web interface or via API for direct integration to the SACCO’s systems.
Designed to meet the dynamic client base of SACCOs, the PYCS’ mobile banking solution utilizes modern technology to deliver secure, efficient & convenient services by simplifying operations and delivering enhanced service to the customers. SACCO customers can use the solution for:
- Account to M-PESA transfers
- Real-time M-PESA deposits to a SACCO account
- Balance Inquiries & Mini statements
- Mobile Loans
- Bank Transfers via Pesalink & EFT
- Airtime purchase
- Utility Bill payments e.g. KPLC, TV, Water among others.
Payments (Bank transfers & Mobile Money)
SACCO clients can send and receive funds through Bank Transfers (Pesalink, RTGS, and EFT etc.) and Mobile Money Networks (M-PESA, Airtel Money etc.).
In addition, SACCOs looking to automate and increase efficiency in payment processing and management can easily integrate their system to our secure payments gateway to make and receive real-time single or bulk payments. The following payment types are supported:
- Pay Bill integration
- Single and bulk M-PESA disbursements
- Single and bulk bank account transfers
- Airtime Purchases
- Utility Bill payments and integrations
What Our Clients Say
Pi Consulting’s remittance system has allowed us to elevate our IMT partner’s experience as they can transfer money seamlessly into Kenya. We have seen a tremendous growth in our Diaspora remittances numbers and love the platform’s simplicity and the post implementation support from the team that has enabled us to shift our energies from constantly worrying about the platform and more on ensuring value for our customers.
“In 2017, UBA started working with Pi Consulting to provide a setup for our bulk payment system, which is the bank’s core digital product. The system is unique, and it gives us a good chunk of our revenues and so, it has influenced heavily on our revenues and improved our customer base and brand perception.
The product is also flexible, customizable to our individual and customer’s needs. We have worked with them closely to overcome human capital, service management or technical problems.
They have developed our payment platform for corporates and SME’s. Pi
Consulting developed the interface between the banks, companies and the
employees receiving money through international remittances.
“It is a very nice, robust system which ensures that the average turnaround time for the companies for the payments is two minutes from the time of payment in the USA, UK to the time the money hits the beneficiary in Kenya. Over the last three years, using this system we have been able to move about KSh1 billion and make money”
“I like working with Pi Consulting, they have a knack for doing things simply but very well.”
Pi consulting powers our automated remittances platform and they are a reliable and efficient partner who takes into account the unique customer needs in our market. The partnership with Pi has ensured that we provide our customers with world-class services enabling them to send money fast and securely to mobile and bank accounts.
Pi Capital Ltd’s Micro Lending platform has simplified our operations by providing a fast and reliable system. We also appreciate their top-notch customer service in troubleshooting and resolving any system issues whenever they occur
“Family Bank started working with Pi Consulting in 2020 on two products: bank payment (FamilyPay) and Diaspora remittances. They (Pi Consulting) are very flexible, innovative, supportive and understanding of the customer’s needs. Moreover, their solutions are one of the best, so far, in the market. The uptake on their bulk payment platform has also been on the upward trend with a month-on-monthly increase. At Family Bank, we are now able to do 5,000-6,000 transactions per month, serving about 170 corporate and business customers.