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Menzo Financial Solution
Menzo is a core banking solution developed with the main aim of serving MFI’s and SACCO’s.
Menzo is a core banking solution developed with the main aim of serving MFI’s and SACCO’s. It has key modules and functionalities to enable companies: fully digitize financial operations; manage their day to day operations; obtain up-to-date reports; analyze their position from various perspectives; improve customer experience; dramatically enhance system uptimes; re-engineer business operations to seamlessly integrate its functional units; and enhance brand, product development and marketing
A core baking solution is a comprehensive software platform designed to manage and automate the primary functions of a bank or financial institution, encompassing a wide range of modules and features to streamline and optimize various aspects of banking operations, including account management, transaction processing, loan management, credit management, payment systems, compliance and regulatory requirements, and data analytics and reporting, with the goal of improving efficiency, reducing costs, and enhancing customer experience.menzo financial solution have the Following features
Organizational Management
⇒Offices (with branches),
⇒Employees,
⇒Loan funds,
⇒Holidays,
⇒Working days
⇒Currency configuration,
⇒Payment types,
⇒Teller/Checker management.
⇒Password preferences,
⇒Bulk imports (users, clients, offices, chart of accounts).
Accounting Management
⇒Chart of accounting,
⇒Journal entries
⇒Migrate opening balance for GL accounts,
⇒Closing entries
⇒Frequent postings
⇒Accounting rules,
⇒Link financial activities to accounts,
⇒Accruals.
Product Management
⇒Loans (add, modify, disable/enable, etc.),
⇒Savings
⇒Compulsory saving
⇒Voluntary saving
⇒Time deposit saving
⇒Charges (define charges/penalties for loans, savings, etc.)