From small informal savings groups in rural areas to large investments groups in the city, Software Group provides a range of solutions that helps improve group operations and builds awareness of the sector. These solutions target both NGOs that work to strengthen the savings groups as well as the groups and their members, all of whom can benefit from enhanced digital solutions. We are proud of the fact that our solutions have helped create awareness of the scale and performance of savings groups and have contributed significantly to proving their outstanding performance and viability to the financial sector.
Digitize operations for ease and security
Software Group has developed a platform which provides a complete solution for digital savings groups. These solutions include those that digitize not only the bookkeeping associated with group management, but also those that help groups move to cashless operations through linkages with formal financial providers. Eliminating the use of manual passbooks, which are both time consuming to maintain as well as prone to error, savings groups now have the opportunity to manage their records via a mobile application which supports best practice. With data stored digitally and backed up to a cloud environment, the risk of losing records is minimized.
Monitor groups more efficiently and ease the burden of reporting
To support the NGOs that train and monitor savings groups, Software Group provides an online management information system, SAVIX MIS, which works in conjunction with the SAVIX app to help digitize the process of data collection associated with group monitoring. The SAVIX (Savings Group Information Exchange) website displays consolidated performance data, derived exclusively from the online MIS and is posted voluntarily by users. The system currently reports on over 5.8 million people participating in savings groups globally.
Forge Linkages between the informal and formal financial sectors
Our platform supports linkages between Savings Groups and a formal financial institution or m-wallet provider. This solution helps to ensure that groups have direct access to a savings account, which is replacing their current practice of storing physical cash in a safe deposit box. Not only will this add to their security, but most importantly it opens up financial possibilities for savings groups because they are now able to build a credit history and access a range of products. The platform is FSP agnostic allowing for links to any and multiple FSPs, including Banks, Mobile Money Providers and Payment Aggregators.