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Sacco System Proposal

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116 views5 pages

Sacco System Proposal

Uploaded by

Dishon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Finmis Financial Solution

SYSTEM PROPOSAL

DATE: 9th October, 2016

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Introduction
The following document outlines the main requirements of the proposed system and recommendations
on how those requirements can be satisfied. The proposal is not meant to be a detailed specification
(which will come as part of the documentation produced if you decide to go ahead) but gives a more
general outline of the different elements of the system and the proposed technologies to be used.

Objectives
Finmis is an open standards platform for financial inclusion that provides the core functionality needed
to deliver financial services to the clients especially the unbanked. It solves the challenge of core banking
systems that are too expensive, too complicated or that have no local support. Finmis can be deployed in
any environment: cloud or on-premise, on or offline, mobile or PC; it’s extensible enough to support any
organizational type or delivery channel, and flexible enough to support any product, service, or
methodology. For any organization, big or small, it will provide client data management, loan and savings
portfolio management, integrated real time accounting and social and financial reporting needed to bring
digital financial services in a modern connected world.

Users, Access & Security


Users
The proposed application can be used by unlimited number of users, with on average 30
Users accessing the system at any one time depending on the server. All users should be IT literate, with
experience in navigating a web browser.
Access
Most users will access the system through a Local Area Network. The application will follow
The client-server model, which is the best infrastructure for shared database applications. Since the
frontend is web based the system can be accessed from any authorized networked machine as long as it
has a web browser.

Security
Security is handled according to defined roles. Each user can have different roles of what they are
authorized to do in the system. There is also complete monitoring that records all that a user does for
transparency reasons.

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System Core Features.
Core Banking for Financial Inclusion.
Financial Services Product Management
Client Management Savings (share) Accounts
Unlimited Individual Members (Members) Current (checking/share draft) Accounts
Unlimited Group Members Term Deposit Accounts
Member Approval Process Collateral Loans
Member Closure & Blacklists Savings Secured Loans
Branch Management Agriculture Loans
Center Management Open End/Top Up/Line of Credit Loans
Duplicate Member Verification Incremental Disbursement Loans
New Member Approval Process Village/Group Lending
Document Attachment (photos, applications. ID) Solidarity Group Lending
Multi-Currency Loan Approval Process
Automatic charges and penalties
Business Management
Chart of Accounts Management
Mobile Delivery and Transaction Management Accrual Accounting
Mobile Field Operations Via Tablet or Smartphone Statement Generation
Transaction Network Interface Cash Management
Store and Forward Capability Social Performance Tracking
Email Support Customizable User Permissions
Bulk Loan Assignment Customizable Fields
Bulk Collections Assignment Detailed Audit Trail
Open API For Easy Customization Profit & Loss Statement
Trial Balance
Book Closures

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Time scales
Task Cost
Installation 2 Days
Data Migration 2 Weeks
Training /user/day
Support 3 Months warrant Support

Additional details:
Ongoing Support
We provide comprehensive support for your system once it has been developed and for peace of mind,
there is always somebody available either to provide simple answers to questions or deal with any
unexpected issues that fall outside of our standard bug warranty. A support contract also offers
guaranteed response times and a number of other benefits.

Our standard support package includes:


 Support for technical and end-user queries. This includes phone support during office hours
(09:00 – 17:30 Mon-Fri) and email support, with a guaranteed response time of just 30 minutes
done through Phone / Email / Remote.
 Issues classed as critical will be dealt with immediately.
 An annual Database Server Health Check, which ensures the server is operating in optimum
condition, and includes testing backups to ensure they restore correctly, running traces to identify
bottlenecks and improve efficiency etc.
 As well as the standard package, we can also provide out of hours support (e.g. weekends), direct
support to end-users and more frequent database Server health checks if required.
 The standard support package is 25% of the Total Implementation cost

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Assumptions
→ The financial institution has already been running;
→ There is already a working solution (currently implemented system e.g. excel/manual paper).

Resources
System requirements
Machines (Server)
 200GB RAID 5 SATA disk storage
 2GB RAM
 2x dual-proc, dual-core 3.5 GHz CPUs (Xeon/Core 2 Duo/any kind of 32-bit+ Intel chip)
 wake-on-LAN Machines (Client) or Any Computer/Tablet with capability of opening web pages.
Infrastructure (optional)
 4 megabits/sec upstream and downstream bandwidth.
 uninterrupted power supply
 replicated MySQL instances

Project team, roles, and responsibilities


The financial institution must have proper/clear roles and responsibilities for each system user.
Training requirements
At least two staff Members need to be trained for succession purposes.
Extra Advantageous Functionality.
The system has the capability of the following integrations
Mobile Money Integration.
→ Deposits from Mpesa and Airtel money.
→ Disbursement to Mpesa and Airtel Money.
NB: These Extra features are billed separately and developed on request.

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