Are SACCOs Set For Disruption?

Join CIO East Africa at a webinar to leverage technology as the disruptor for the deposit-taking SACCOs in East Africa. The Session is slated on the 9th July 2020.

Attendees of the premier SACCOtech Forum hosted at the Nairobi Serena Hotel in 2019.

CIO East Africa will on 9th July 2020 from 9.00 AM EAT, host a SACCOtech forum to disrupt the traditionally reserved SACCOs industry.

The 5-hour virtual forum purposes to explore technology use-cases and to discuss ways in which deposit-taking SACCOs can effectively identify, adopt, and accelerate deployment of disruptive technologies in the East African space.

“Technologies like Artificial Intelligence, Big Data/Analytics, Open Banking, Blockchain, Cloud Computing, among others have continued to create efficiencies in the SACCO sector and the economy,” said Laura Chite, CEO CIO East Africa.

Aligned to speak at the summit are industry thought leaders, who will cover a wide range of topics including Building Cloud Services for Sacco Societies, leveraging Business Mobility to increase Efficiency in SACCOs, using Artificial Intelligence to improve customer experience, and turning customer data into business insights among others.

The emergence of the sharing economy has disrupted almost every industry, from hotels to maid services to education. The SACCOs industry, which is traditionally where the money is thrown has, however, has been slow to adjust to such massive and widespread change.

At a past SACCOtech forum, the premier, hosted by CIO East Africa at Serena Hotel in April 2019, delegates noted that SACCOs that had embraced modern technology in service delivery had a competitive edge in the market. However, such are not a majority in Kenya and the larger East Africa.

“SACCOs have done well in past but for their laxity in adjusting to technological advancements,” averred Joel Onditi, CEO Pathways International. Adding, “Their major breakthrough is in Data Analytics and the embracement of technology.”

But the sector is now ripe for technology-driven efficiencies and innovation. To digitally transform and deploy technologies to meet changing customer demands and transform the customer experience.

The role of the entrepreneur is to find inefficient industries, capitalize on latent resources, solve problems, and create something of value. When we look at the current insurance industry, we see inefficiency and a lack of comprehensive service within an overall outdated system.

Join the insightful industry engagement that brings together stakeholders from the Sacco Societies, policy-makers in the financial services sector, and the technology industry to explore how technology will strengthen and catalyze the growth of the deposit-taking SACCOs in the quest of harnessing socio-economic.

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