FAQ · BANKAYO

FAQs

Questions we get asked

From SACCOs, MFIs, fintechs — and from members who found us through the app.

Not covered here? Tell us how your institution works.

Apache Fineract as a core banking system, the support to keep it running, and customization of the workspace, the core and the integrations around it. The engine is open Fineract, so you are not locked into a private SACCO package.

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Questions we get asked

What do you actually sell?

Are you a product company or a software house?

Who is BANKAYO for?

How long does it take to go live?

What do you need from us to start?

Can we see it before committing?

Do we have to use your UI?

What is Apache Fineract, and why does it matter that you use it?

Are you part of the Apache project?

We already run Fineract or Mifos. Can you work with that?

Do you fork Fineract? Will we end up stuck on an old version?

If we stop working with you, what happens to our system?

Where is our data hosted?

Who at BANKAYO can see our members’ data?

How are backups handled?

Can we export our data, and in what format?

Does it support maker-checker?

Can we restrict what each officer can see and do?

Is there an audit trail of who did what?

We are on Excel or on paper. Can you move us?

We are on another core banking system. Can you migrate us?

Can you import our existing members, balances and loan histories?

Who configures it day to day?

Is support included, or charged separately?

Is there documentation?

What happens if a screen does not work as we expect?

What does it cost?

Is there a minimum term?

Do you take a percentage of our transactions?

What is the free period, and what happens at the end of it?

Can it talk to mobile money and SMS?

Can we get an API for our own systems?

I am a member and my balance looks wrong. Who do I contact?

What can members do in the app?

Do members pay for the app?

Is there an iPhone version?

Still have a question?Ask us directly.