NAIROBI, Kenya, April 7, 2020: Digital banking platform Kwara today announced the launch of its Kwara Pronto digital banking platform which will be offered free for 3 months, in an effort to help SACCOs at risk of disruption from the Coronavirus pandemic (COVID-19) to quickly go digital, remain in operation and continue serving members.
Due to government-enforced restrictions on movement and social distancing measures during COVID-19, SACCOs are unable to operate at full capacity. As a result, members face challenges applying for loans, transacting and accessing their funds. Kwara is offering access to an essential version of its core digital banking platform, which will enable SACCOs who qualify to quickly onboard and bring their operations online, at no cost, for the next 3 months. This is an effort to enable SACCOs and their members to keep transacting while observing social distancing.
"Traditionally, SACCOs rely on face to face interaction to serve their customers. Today they are facing significant challenges trying to operate in this new environment. Our platform is designed to kickstart their digital transformation, and we are offering an essential version of our platform for free, in an effort to do our part in ensuring SACCOs can continue serving the members that need them and get through these difficult times.”
Kwara launched in 2018 in Kenya, offering a secure digital banking platform designed for savings and credit cooperatives. Their new Pronto product will enable both BOSA and FOSA SACCOs to quickly and easily go digital. They simply need to provide minimum mandatory KYC requirements and a snapshot of financial data, all of which are protected under NDA. Staff can then start working remotely, process the high volume of incoming loan requests quickly, disburse funds, and easily get in touch with members. Members in turn can begin to transact digitally, and view their finances and loan eligibility in real time. Eligible SACCOs will also get a free website to enhance their digital presence.
Kwara Pronto is available for the first 50 SACCOs who qualify. Interested SACCOs can visit www.kwara.com/pronto and fill out an application to determine eligibility, or call Cheryl on 0795 464 795 for more information.
Backed by Finparx, Google for Startups, Catalyst Fund and Bonum Ventures, Kwara serves more than 27,000 SACCO members via SACCOs including Kenya Bankers Sacco Ltd in Kenya and has over Ksh 8bn in assets under management on its platform. Read more here and here.
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Kwara offers a secure, simple and affordable digital banking platform for savings and credit cooperatives and their members, who are often excluded by traditional banks. Started in 2018 in Kenya, our mission is to enable the world's 3 billion underserved to become financially healthy. Backed by Finparx, Google for Startups, Catalyst Fund, Kepple and Bonum Ventures, today Kwara serves over 27,000 members. Visit www.kwara.com for more.
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