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Sacco adapts to e-banking technology

17 April 2013, 16:37 Wangui Joseph

The Biashara Sacco chairman Joseph Kamau Njamuku, on Monday revealed that the Sacco has joined ranks of modern financial institutions that have gone e-banking.

Njamuku said the move was made in a bid to reduce paper work at the banking hall and to modernize their services.

Addressing Annual General Meeting at YMCA hall in Nyeri town, the chairman said they are also set to open more branches country wide.

“The Sacco is set to introduce one of the latest technologies in the market, Point of Sale (POS). It will enable customers to confirm that their money has been deposited without visiting the bank,” said Njamuku.

He said with the new technology, a customer will be issued with a banking receipt on the spot by the Sacco’s field officers.

“Each of the field officers across the Sacco branches will be issued with a gadget. This means that all the money they collect reflects instantly at the branches and at the headquarters thereby giving customers confidence that their money is safe,” he added.

Njamuku said members have received the move very well and it is just a beginning of more improved services.

He further said that all branches are now fully computerized and interconnected therefore customers can withdraw money and transact business from any branch.

However, Njamuku revealed that they have acquired a mast at Nyeri Hill to boost the Sacco’s networking system.

“A fully fledged ICT department has been established at our headquarters with highly competent staff. This gives the CEO access to all transactions in all the branches,” he stated.

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