Savings Plus’ recent added feature is SMS Banking. We are living in a time of mobile banking, and SMS Banking could never be more appropriate a feature for the banking industry now. The institution does not have to have internet connection at their premises. Future Link Technologies (FLT) in partnership with International Telecom provides content to MTN, UGANDA TELECOM, WARID and ZAIN subscribers, through the licensed short code 8000. The content ranges from media like logos, ring tones, videos to SMS info such as news, jobs directory and a lot more, making it a world on the subscriber’s phone. We now would like to enable your members to access their account status on their phone. This includes accessing their Shares, savings and loan balances monthly. Your institution will also be able to send reminders to your debtors, about the due loan repayments.

Features of Savings Plus SMS Banking include the following;

1. Sending monthly reminders of shares, savings, loan balances.
2. Sending monthly reminders of loan repayments due.
3. Receiving and replying to members’ requests about their accounts status

BENEFITS TO YOUR INSTITUTION AND MEMBERS

Savings Plus SMS Banking comes with a number of benefits to your organization and members. These include the following;

1. Your members will be kept up-to-date with their account status, and this will g a long way to motivate them to save more.
2. Efficiency of the institution’s administration will be enhanced, as members will no longer have to queue up for account status.
3. It will generate added revenue for the institution. We propose that a negotiable amount be charged on each savings account every month, whereby 1/3 will be retained by the institution, while the 2/3 is passed on as the cost for SMS Banking.
4. The institution will earn good will from both the members and the public, for embracing technology, and fostering accountability.

1. No added work to the staff, as SMS Banking ledger charges are done automatically by Savings Plus.

COST

This is an affordable feature, since it is negotiated between your organization, and the cost spread over many people.