Stanbic Chama App

The Chama app is a mobile application designed for friends and family to save and transact together. It can be downloaded from the app store and requires users to create a profile and verify their identity. Once verified, users can access their personal wallet and start participating in Chamas (savings groups) and making transactions. The app allows users to deposit money from Mpesa (a popular mobile money service in Kenya) into their wallet and also withdraw money from their wallet to Mpesa.

With the Chama app from Stanbic Bank, users have the ability to create multiple Chamas and invite their contacts from their phone address book. Invitations are sent via text message and potential members can review the group's constitution before accepting the invitation. The app puts the power in the hands of the group to manage their Chama according to their own preferences.

The Chama app offers a variety of features for groups, including complete visibility of all group activity, changeable membership roles, and membership statuses. All members can see the group's transactions in real time and officials can assign roles such as chairperson, treasurer, or mentor to members. The app also allows for different membership statuses, such as active, on-hold, and terminated, which can be changed at any time.

Another useful feature of the Chama app is the ability for groups to manage loans. Groups can set their own loan interest rates and specify rules for loan approvals. Members can apply for loans within the app and see the maximum amount they are eligible for based on various factors. The app also uses an invoicing system to track loan disbursements and repayments.

The Chama app also allows groups to set and track their goals, with the option to add a picture for inspiration. Money can be allocated to these goals from the group's available balance and can be moved back at any time. The app also has a built-in chat feature with a polls feature for group decision making.

Stanbic Bank regularly updates the Chama app based on user feedback, making it a constantly evolving and improving tool for managing group savings and transactions. Users are encouraged to provide feedback to help make the app even better.