Group Savings App

// about Group Savings App

Group Savings – VIKOBA App
– “Save Together Save Better”

Group Savings is a world-class, customer-oriented mobile app for managing group data (social and financial groups), like VIKOBA/VSLA/SACCOS.

With Group Savings, the Group can collect and prepare contributions, loans, meetings, fines, expenses, and investment information and share instantly to increase transparency and trust among its members.

Group Savings is a cloud-based application that runs on Android and iOS with unlimited cloud storage capacity and 24/7 accessibility, and it has a Web component for setting up a group policy on different aspects like contributions, loans, meetings, etc.  (according to the constitution).

The system allows members to easily request loans following the group policy. It then creates a loan queue for each received and approved request, streamlining the loan process and ensuring fairness. It also allows members to submit monthly contributions via a mobile/web app showing the breakdown for each contribution type amount, loan repayment installment amount, and fines to be paid. In addition, it allows proof of payment attachments.

Group Savings has the following features;

  • Define group operating principles
  • Upload the group constitution document
  • Members’ registration – name, phone number, email
  • Contribution types: Share, Social (Jamii), Investment, etc.
  • Loans records – loan requests, outstanding loans, loan payments, loan interests, loan top-ups.
  • Meetings records – meeting date, time & location, attendance, meeting notes.
  • Expenses records – both group and individual expense records.
  • Fines – late loan repayment, late contribution, not attending the meeting, etc.
  • Previous group data importation
  • Member’s dividend distribution – at the end of the contribution cycle
  • Reports – summary contributions, loan repayment, fines payment, interest gain.
  • Instant notifications to all group members on any new posted information