Finlok is an app that digitises savings groups – commonly called bhishi, committee, beesi or chitty. We have developed the app based on a deep understanding of the challenges a group manager/admin faces in operating a saving group.
So if you are a group manager/admin that wants to increase your earning and would like a partner that can help you manager your groups better you need to download our APP TODAY!
Finlok understands that the group manager/admin’s is the back bone of the saving group. It is our mission to make group management painless and thus help the group manager/admin manager more groups. The main pain faced by the manager/admin are –
- Transaction tracking
- Group managers spend a lot of time in keeping track of payments (who paid, to whom, delayed payments etc.)
- Continuous reminders to members that have not made group payments (managers we spoke to said that they sometimes need to make multiple calls per member to get payments)
- Group managers need to keep the group members updated about payment schedules, selection of winner etc.
- Beneficiary Selection
- The group manager needs to have a place to bring members together to select the beneficiary; quite often the member that didnt attend the meeting complain about selection process
- Payment Collection
- Group managers need to collect payments and manage cash until settlement to the winner/beneficiary for the schedule.
With Finlok group managers are able to solve all of these pain points and manage their groups better. With Finlok group managers get the following benefits –
- Group creation online through our mobile app
- Transparent beneficiary selection
- Automated notifications to all members
- Payment facilitation and tracking – online (direct to bank account – using BHIM-UPI) as well as offline payments supported
- Continuous reminders and follow-ups to group members to close the payment cycle.
Now imagine if as a group manager/admin Finlok helps you with all of the above; the impact that would have on your life!
Not only will you remove the stress related to group management; you would be able to start and manage multiple more savings groups. Thereby generating much more income while helping many more people save, get credit and earn returns.