Kenya’s Stima Sacco has come out to explain reasons why their members could not access some online services, putting to rest some of the fears that had gripped a section of members. The services have since returned to normal.
Living at a time when cybercrime activities seem to be at their peak within and without Kenya, any technical hitch that hits any financial institution often sends shockwaves down the spines of customers on the safety of their investments.
It has now emerged that the 53.7-billion-shilling asset-based Sacco migrating all its services to a new system that is more secure and efficient in terms of amplification and transaction for both existing and prospective members.
According to the management of Stima Sacco, with the new and revamped systems, customers can withdraw, deposit, and borrow cash through their MPawa App or view statements, and check balances, as well as onboard on their new-improved web portal, all in real-time, unlike in the past.
The Sacco has now migrated its services to a new core banking system from the old Electronic Resource Planning that had outlived its time and was prone to system locks and rigidity in customization. The new system now has more advanced digital channels available for customers.
“We would like to assure our members that Stima Sacco is strong and that their investments are secure. Our new systems are now super-fast to serve them better and efficiently,” said Stima Sacco in a statement.
One of the core successes of the new system is that customers will now be able to carry out Electronic Funds Transfer (EFT), Real Time Gross Settlement (RTGS), and direct deposits. They will also access funds using all Visa-branded ATMs and pay at the Point of Sale.
With the latest upgrade, Stima Sacco now joins other financial giants whose systems have been upgraded and made bulletproof hence more security for members’ funds and investments.