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SACCO LEADERS CONVENTION
Mary Kiema, Cynthia Wandia, Stephen Karanja Kiragu,
Customer Experience Manager, Co-founder and CEO, Kwara Head of Internal Audit, Fariji SACCO
Stima SACCO
What is your major take away from the What is your major take away from the What is your major take away from the
convention? convention? convention?
The narrative that technology is I understood that SACCOs are at My major take away in the 5th annual
disrupting has been kind of disrupted various ends of the spectrum when leader’s convention is that in business
because you find that its dissatisfied it comes to disruption. Some have there is always disruption which
that are disrupting. As they disrupt you embraced the thought and are racing disorganizes the whole process of
have to keep up the pace to catch up to adopt new innovations. Others are value chain. In order for SACCO’s to
with what they are looking for. In the becoming familiar with the threat withstand current disruption we must
era of technology, technology becomes and that is really important to speak adapt to the unpredictable faster than
the tool that you use to respond to that SACCOs wherever they are in whatever rivals can and its through digitalization
dissatisfaction. point of their journey they are. of processes, products and models of
doing business.
How is Stima SACCO using technology What services are your providing
to serve its members? to SACCOs to enable them survive How has your SACCO embraced
disruption? technology?
Stima SACCO is very responsive to
members’ queries. One of our core We are a young company that took We have developed a mobile app
values is responsiveness, which the decision to build core banking called Fariji SACCO and USSD platform
means we listen and we care about infrastructure and the end-to-end that creates real-time interactive
the customer. When members were solution around that from scratch experience to our members/customers
looking to withdraw their money because we felt technology advances thereby delivering scalable solutions
without coming to the banking hall, we so quickly and we took all the available to them anytime anywhere. We have
responded by giving them the first ATM. technology to build the first modern also build an up to date website that
We were the first SACCO to provide an SACCO online banking platform. provide relevant information to the
ATM. Members wanted to pay their users and at the same time doing
bills through cheques, we responded What technologies are you using product advertisement.
and we have a cheque book for our to provide customer experience to
members. We are currently revamping SACCOs? Which strategies has your SACCO
our core banking system to give them implemented or planning to
more. We have a CRM that we are Even as a principle from how we design implement to survive disruption?
introducing so that we can catch up it’s a user design thinking process. We
with their relationship issues. The CRM sit a lot with the users we maker sure we The SACCO has been on a journey
will help us monitor what the member understand the job that is supposed to moving from the traditional business
is looking for. be done. We use technologies that are models to adopting technology as
familiar in consumer type of products way of doing business in the wake of
Which strategies has Stima SACCO like your Gmail to provide an easy to disruption. Though different disruptors
implemented to survive disruption? understand interface because if the affect us differently we have ensured
user knows what they are doing, they the leadership and governance
We are doing a customer satisfaction are less likely to make errors. In the structures are in place and capable to
survey and currently we are doing a backend we use world class security foreseeing disruption thereby taking
brand and culture audit to see whether and we use world class hosting. advantage or addressing the risks
our brand and culture is relevant to associated to them in the appropriate
what is happening in the world and we way. However a lot is being done
are always in such trainings. We have to address the issue of cybercrime/
over ten people attending the SACCO threats and also simplifying processes
Leaders Convention to lookout. through Financial Technology.
SACCO Star Magazine | 21
