KUSCCO sets up IT firm for members


Kenya Union of Savings and Credit Co-operatives (KUSCCO) has established a software company to enable small co-operative societies offer mobile banking services.
Managing director George Ototo said IRNET Kenya (ICK), to run as a separate entity, will offer a pay-per-use facility for small and medium sized SACCO members.
The umbrella body said the new IT portal to be housed at KUSCCO will enable the small SACCOs compete with the larger peers with own digital banking platforms.
KUSCCO owns 75 per cent of ICK—61 per cent stake was donated by the World Council of Credit Unions (WOCCU) at no cost while KUSCCO bought a 14 per cent stake at an undisclosed amount. The rest of the shares are held by the WOCCU.
“The future provision of financial services is digital banking and ICK gives the small saccos a platform to offer services to their members securely via the web and on mobile phone Apps. Each SACCO will have its secure portal thereby saving them the need to acquire ICT infrastructure and cost of employing staff to man the facility,” said Mr Ototo.
The facility is a cloud-based computing system accessible from any Internet-enabled device. It has a mobile banking option that allows members to use their phones to access financial services from their respective SACCOs.
Source: http://www.businessdailyafrica.com/corporate/Kuscco-sets-up-IT-firm-for-members/539550-3935808-s3t1u9z/index.html

ISO 9001

KUSCCO has attained the highly coveted ISO 9001:2008 certification. The award represents KUSCCO’s commitment to the continuous improvement of service efficiency and effectiveness, customer satisfaction and superior performance in all business operations. This will also enable KUSCCO to compete effectively and to broaden its market outreach in the broader financial market.