An innovative dfcu Investment Club app has emerged as the platinum winner for the Infosys Finacle Innovation Awards 2023 under the category of business model innovation. The app was selected from over 200 global nominations across 10 categories by a panel of esteemed global banking and technology experts.
The app which was ideated by dfcu Bank’s innovation team simplifies the day-to-day management of investment clubs and Savings and Credit Co-Operative Societies (SACCOS) in Uganda by providing a real-time view of all financial activities. The app helps members track their contributions, manage their group lending and collections, and provides effective reporting, and general administration in real-time.
According to Veronica Sentongo, dfcu Chief Change and Innovation Officer, in its vision to bank the unbanked savings groups, dfcu worked with Modefin, a global award-winning digital banking and fintech solution provider to create a digital solution that is easy to access and use across multiple operating systems. The app delivers an enhanced experience for customers, simplifying their customer journey, and making life easier for club administrators.
“We are delighted that our partnership with Modefin has yielded this state-of-the-art innovation which has taken its rightful place in the realms of excellence. “At dfcu Bank, delivering exceptional value to our customers through technology is a strategic priority. Thus, our cutting-edge platform has empowered over 40,372 investment clubs & SACCOS in Uganda, by optimizing their savings group operations and allowing seamless convenience through its intuitive interface.
Speaking on the win, Amarnath Choudhary, MD at Modefin noted that “We have shown what can be accomplished when two influential, purpose-driven organizations come together to deliver exceptional results. Kudos to the dfcu Bank and Modefin teams for their vision, dedication, and commitment to creating a future-centric app that is changing the game in digital banking.”
For more information on dfcu Bank visit www.dfcugroup.com