The world of group financial management is evolving, and platforms like Malipo (a Kenyan Fintech) are at the forefront of this change. If you haven’t heard of Malipo yet, it’s a tool designed to automate governance in financial activities within groups/chamas, such as lending, borrowing, investment clubs, and even merchant payments. What sets Malipo apart is its focus on empowering small to medium-sized financial networks, enabling them to set their own rules and manage their funds with greater autonomy.
Eric Oyugi, the CEO of Malipo, recently announced a new set of powerful features that reflect the company’s commitment to improving group financial experiences. These features are not just about adding convenience—they’re about transforming how financial networks operate and grow.
“We are really excited to work with small to medium-size autonomous financial networks who make their own rules on the use of funds and the kind of administrative controls they apply on their funds,” says Eric. With this statement, Malipo shows its focus on handing power to its users, enabling them to fully control their financial governance processes.
Customizable Loan Products on Malipo
One of the standout features in this update is the ability to customize loan products. Financial networks on Malipo can now create loans with various interest rates and penalties, tailored to their specific needs. This customization extends to how penalties on defaulted loans are calculated—an essential tool for groups managing diverse types of financial lending.
“One of the key requests we have received from the financial networks on Malipo is the ability to create different loan products on the platform, with enhanced customization like different interest rates and penalties,” Eric notes.
For anyone managing a group that lends or borrows money, these features will add significant flexibility and control.
Malipo’s Enhanced Reporting and Ledger Management
Malipo’s existing ledger system, which helps financial networks allocate funds to different ledgers for clear tracking, has now been integrated into a more advanced reporting engine. This new system aggregates all income from interest and penalties, providing real-time transparency. Users can now easily access detailed reports on their funds, which is crucial for effective group management.
“We have extended this powerful feature into our reporting engine so that you can quickly tell the total across each ledger and even select a ledger to be treated as income to the network,” explains Eric.
This means that if your group collects fines for things like missed contributions or tardy payments, these funds can now be efficiently managed and reported.
Upcoming: Income Distribution Engine
In the next few months, Malipo is set to release an income distribution engine, designed to automate the process of paying out income earned by the group. Distributing funds across multiple members can be a complex and tedious process, but this tool aims to make it seamless. Each member will be assigned an income ratio, making the task of distribution more straightforward.
“Malipo is looking to change this and make it as seamless as possible,” says Eric. This feature is particularly useful for investment clubs and chamas that frequently distribute earnings.
New Decision-Making Tools on Malipo
Malipo has introduced new decision-making tools that give financial networks more data to make informed choices. These include a transaction profile feature, which tracks all member actions and provides a clear overview of individual contributions and behaviors within the group. To further simplify monitoring, Malipo has implemented a color-coded system that rates member activity, using RED, AMBER, and GREEN to highlight levels of engagement and reliability.
“Our RED, AMBER, AND GREEN colors have also been introduced to rate member activity within the financial networks. Now you know which members are dragging you back,” Eric adds.
Conclusion: A Platform Built for Growth
Malipo’s new features reflect a deep understanding of the challenges faced by financial networks. Whether it’s automating complex processes like loan customization, income distribution, or decision-making, Malipo is delivering solutions that enable these groups to thrive.
As Eric concludes, “I am very excited to watch the growth and success of these networks within Malipo and to observe how you use the features we continue to build to power your success.”
It’s clear that Malipo is shaping the future of group financial governance, providing the tools that small to medium-sized networks need to manage their funds and empower their members more effectively. If you’re managing a group that handles money, these new features could be game-changers.
You can read more about their platform and features at Malipo’s official website or follow their updates for the latest in financial tech solutions.
