Frequently Asked Questions
This page answers the most common questions about Finhazi, our SACCO and core banking platform, and how we support financial institutions, groups, and members across Africa.
1. What is Finhazi?
Finhazi is a cloud-based financial platform built for SACCOs, cooperatives, microfinance institutions, VSLAs, youth funds, and investment groups. It provides core banking, digital savings and loans, contributions tracking, payments, and reporting in one easy-to-use system.
2. Who is Finhazi designed for?
Finhazi serves a range of institutions and groups, including:
- SACCOs and credit cooperatives
- Microfinance institutions (MFIs)
- Village Savings & Loan Associations (VSLAs)
- Youth funds and community funds
- Investment clubs and savings groups
- Microbanks and tiered financial institutions
3. Is Finhazi a bank?
No. Finhazi is not a bank and does not hold deposits. We are a technology platform that enables licensed financial institutions and groups to digitize their operations, manage members, and deliver modern financial services.
4. What problems does Finhazi solve for SACCOs and cooperatives?
Finhazi helps SACCOs and cooperatives:
- Move away from paper, spreadsheets, and manual ledgers
- Digitize contributions, shares, savings, and loans
- Automate interest, penalties, and repayments
- Improve transparency with member statements and reporting
- Reduce human errors and reconciliation headaches
- Offer digital and mobile access to member accounts
5. Which countries does Finhazi support?
Finhazi is built in Africa for African markets, with a strong presence in East Africa. We work with SACCOs, microfinance institutions, and savings groups across the continent and can support multi-country setups where needed.
6. Does Finhazi support mobile money and bank integrations?
Yes. Finhazi is designed to connect to common payment rails such as mobile money and bank channels where integrations are available. This enables deposits, withdrawals, loan disbursements, and repayments to move seamlessly between member wallets and institutional accounts.
7. Do members need smartphones to use Finhazi?
No. Finhazi can be accessed via:
- Web dashboard for staff and administrators
- Mobile apps where applicable
- USSD and SMS banking options in supported markets
This ensures SACCOs and savings groups can serve members with basic phones as well as smartphones.
8. How secure is Finhazi?
Security is core to how Finhazi is built. We use encrypted connections (HTTPS), role-based access control, audit trails, and best practices for protecting user data. We also work closely with our customers to align access controls with their internal policies.
9. How does onboarding and data migration work?
We support structured onboarding for new customers, which can include:
- Digitizing and importing your existing member and account data
- Mapping products (savings, loans, shares) into Finhazi
- Training staff on daily operations and reporting
- Configuring roles, approvals, and workflows
10. How is Finhazi priced?
Pricing depends on factors such as size of institution, number of members, modules in use, and integrations required. We aim to keep setup costs low and offer fair, transparent subscription or usage-based pricing models. To receive a tailored quote, please contact us via the Contact Us section.
11. Does Finhazi support offline operations?
Finhazi is primarily cloud-based, but staff can capture records in offline contexts and sync when connectivity is restored, depending on configuration and tools used. Many of our customers operate in environments with intermittent connectivity, so resilience is a design priority.
12. What support does Finhazi provide?
We provide ongoing support to our customers, which can include:
- Dedicated implementation support during onboarding
- Training for staff and administrators
- Helpdesk and ticket-based support channels
- Continuous platform improvements and feature updates
13. How can we get a demo?
You can request a demo by visiting the main site and clicking “Contact Us” or “Sign Up”, or by reaching out directly via connect@finhazi.com. Our team will walk you through the platform and discuss how it can fit your SACCO, cooperative, or microfinance institution.