Core Banking

Do more with Kwara integrations - No Code.

Provide a unique self-serve experience to your Sacco members on platforms they already use.

Kwara

Who is Kwara

Kwara is a Nairobi - Berlin based fintech company, founded in 2018 with the aim of empowering SACCOs (credit unions) in emerging markets to make the shift to digital banking.

SACCOs have seen tremendous growth over the past few years in Kenya, with over 14,000 registered cooperative societies and a net saving of over $17.5 billion for the year 2021. Though they are major economic contributors, their adoption to digitization has not been proportionate to their rate of growth, and this saw many of them lose to well structured and resourced incumbent banks. The situation worsened with the onset of the pandemic which highlighted the necessity for digitization.

It is with such gaps in mind that Kwara built their digital platform to offer a secure, cloud-based and future-proof digital banking solution that is infinitely scalable and affordable to the credit unions.

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Why Kwara

Kwara provides Saccos with a management platform to help run and derive maximum efficiency in their operations from any location, at any time.

With their next generation, end to end neobank, geographical limitations are shattered as the Sacco members will have instant access to their balances, financial statements and services such as loans, repayments and insurance regardless of their physical location.

This is expected to rapidly improve the growth of  credit unions, as members can sign up and access personalized services from anywhere while eliminating the archaic paper-based systems and the expensive need for setting up elaborate branches.

Kwara’s customer-centric style gives power back to the Sacco members, so that credit unions have the freedom to focus on their core business and more value-added tasks. The platform will help ensure compliance, and increase the credit union’s capacity to lend.

As of May 2022, Kwara is serving 85 credit union and counting

 

Benefits of Kwara

Some of the benefits of the Kwara platform include:

  • Credit unions are empowered to respond quicker to member needs.
  • Automation of saving contributions.
  • Faster mobilization of deposits.
  • Improve repayment rates.
  • Empowering to compete and win against digital lenders.
  • Automation of reports and analytics.

Kwara stated that since adoption of its platform, its existing clients have experienced membership growth of over 19% year on year, which is three times the global average.

Transactions that have been supported on the platform so far are worth over $40million between the credit unions and their members.

Kwara API

Through the Kwara API, businesses are empowered to configure their platforms and systems to make automated calls to Kwara and extend the capabilities of your platform to include Kwara services in your business operations.

Quick integration with Kwara

Brrng CRM enables you to integrate to Kwara in minutes without writing any code. You are able to access all the benefits of the neobanking platform as you store your data on the Brrng CRM. Some of the capabilities of the Kwara API integration include:

  • Loan automation - Your members are empowered to apply for loans from anywhere with less paperwork and receive the loans faster due to faster loan processing.
  • Build your own USSD platform on Brrng and to include Kwara services for your members. This way, members without smart phones or internet connection can interact with Kwara services on USSD. They can for example request loans and check their balance. You can also enable your field agents in remote areas to sign up your members on Kwara via USSD and have the collected details stored on Kwara and on the Brrng CRM.
  • You can use Brrng flows to trigger events based on interactions your customers have with Kwara. For example, once a loan has been approved, Brrng will automatically send your member an SMS informing them of the update.
  • Easily expose your loan products to Kwara from Brrng. Without having to switch systems, create and update loan details onto Kwara
  • Verify an individuals identity.
  • Easily create your Sacco members, show, list and update their details on Kwara from Brrng or your third part system.

Updated on Jul 15, 2022

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