Member KYC and credit bureau reporting for cooperatives

The problem: nobody holds the identity details

Member identity details sit in old forms or nowhere at all. When a loan is requested or a credit bureau needs a report, officers chase members for dates of birth, addresses and ID numbers, and the file is built by hand from loan records.

Who feels it

• Officers cannot tell at a glance which members are ready to borrow or to be reported.
• Members hand over sensitive ID numbers on paper or by message, with no control over who sees them.

How KoopManager resolves it

Members enter their own details on their own login, and everything is optional. The minimum set is date of birth, gender, address, state, and a BVN or NIN. ID numbers are stored encrypted, and the member sees only the last four digits. A society can require the minimum before a new loan request. A register shows each member's status, open loans, missing items and credit bureau consent.

For reporting, officers with permission can preview and download a month-end file with borrower, credit and guarantor information. Members with no recorded consent are marked as such in it. ID numbers are checked for format, not verified. Whether and how to report is for your bye-laws and legal advice.

• See KoopManager's features
• How to move a cooperative society from spreadsheets to software
• The financial reports every cooperative Exco needs
• Cooperative society glossary