A Cheque clearing module for Sacco customers with Front Office Savings Account.
The Sacco’s partners with a given Bank (Example Co-operative Bank) offering Sacco Personal cheques products, through which the Sacco’s are able to give personalized cheque books to their members. The bank facilitates the clearing of these cheques through the Automated Clearing House (ACH). The cheque books are co-branded with both the Bank (Example Co-operative Bank) and respective Sacco logos.
The Personal Cheques Books at the FOSA makes Saccos a one stop shop for their members and therefore gain a competitive advantage.