MARY MUNGAI
Sacco News Investment

Saccos Come Together to Tackle Cyber Crimes

Co-operatives in Kenya need to change and keep up with the pace at which technology is evolving, these were the words of Mary Mungai who is the Commissioner for Cooperatives Development.

Ms Mungai was speaking at a workshop dubbed “ICT Business Opportunities for Cooperatives” held recently at a Nairobi hotel. Ms Mungai further explained that need to be well equipped in order to offer great services as well as be able to deal with emerging issues such as cyber-attacks.

“I am proud of the CAK team and other parties that are doing the best for the sector. As a ministry, we are always ready to move forward with you,” said Mungai.

Also at the workshop was Kingsley Kariuki the CEO Kingslink International who revealed that an assessment involving several Deposit-Taking Saccos, conducted by his company Saccos need to a more secure IT platforms.

This according to Kariuki  is to enable them deal with an emerging trends where Saccos continue to lose members’ cash through the activities of online criminals.

Kingslink International is working closely with the Co-operative Alliance of Kenya (CAK) to deliver a turnkey solution the best-in-class software, quality hardware, reliable connectivity and superior after sales service and support at a flexible and affordable pay-as-you-grow model.

CAK has for the last few years noted with great concern, the ICT challenges that Co-operatives are facing.

“We have partnered with CAK and other stakeholders to provide Saccos with the T24 Core Banking Platform that will allow them to access real time data as well as archiving capabilities, web hosting and a host of modules,” Kariuki said.

The meeting that attracted Co-operatives’ CEOs and representatives across Kenya was steered by ICT professionals from Temenos and Kingslink International.

CAK CEO, Daniel Marube said CAK has for the last few years noted with great concern, the ICT challenges that Co-operatives are facing thus the reason for inviting ICT key players to shed light on how to deal with these problems.

“We have been suffering a lot due to challenges in ICT and in order to address this crucial concern, CAK has partnered with Kingslink International and invited a team of internationally renowned ICT gurus to assist with some knowledge on how to deal with these challenges,” said Marube.

Kingslink is an Application Service Provider (ASP) which focuses on removing the need for ongoing hardware investment in legacy core banking systems that limit scalability and reduce income cost ratios.

It has partnered with South African-based Temenos- a software provider specialising in banking and finance solutions, to provide the turnkey solution for Co-operatives in Kenya.

Temenos is already the IT service provider for M-Shwari, a mobile money platform run by Commercial Bank of Africa (CBA).

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