Requirements checklist
What to ask for when choosing software for cooperative banks.
A checklist built from how cooperative banks work, to print or save as a PDF and bring to any supplier meeting.
What the software should cover
Tick each one that matters to your business.
- Member register and share capital
- Savings and current accounts
- Term and recurring deposits
- Collection agent daily sheets
- Member loans, sureties and committee decisions
- Branch day-end and board reports
Roles that need their own access
Who logs in, and what each person may see or change.
- For tellers and branch clerks
- For collection agents
- For loan officers
- For the chief executive and board
- For accountants and auditors
Reports to ask for
Ask to see each one with your own sample data.
- Deposit position by scheme and branch
- Fixed and recurring deposits maturing in the next month
- Overdue loans by age band and asset classification
- Sureties with combined exposure per member
- Agent round collections against cash banked
- Share capital movement for the year against bye-law ceiling
- Branch cash count by denomination with the daybook trial balance
Systems it may need to connect to
Note which ones you already run.
- SMS
- WhatsApp or other messaging
- Passbook printer
- Bank transfer files
- Accounting export
- Biometric or fingerprint reader
Questions for any vendor
Put these to every supplier you are comparing.
- Is this a full core banking system?
- Can one member hold shares, deposits and a loan?
- How are agent collections matched to cash?
- Does it show how many loans one member stands surety for?
- How are maturing deposits flagged?
- Can the board see committee decisions?
- What about interest calculation rules?
- How do we move from our current system?
- Who owns the member data?
- What does it cost?
Where the work usually breaks today
Circle the ones you recognise. They set the order of the project.
- Share capital sits apart from accounts
- Daily collections reach the books late
- Maturing deposits are missed
- Sureties are hard to trace
- Branch books close slowly
Prefer to talk it through? See the cooperative banks page.