"Routine tasks like dividend calculations, loan processing, and account management should be automated to enhance accountability and reduce administrative costs," Atsiaya said.
Saccos that have adopted digital platforms report up to an 80 per cent increase in revenues and a 40 per cent reduction in operational costs.
However, the sector still faces challenges.
According to the 2023 Saccos Supervision Annual Report by SASRA, the sector regulator, 346 out of 684 regulated entities have not yet implemented USSD, mobile apps, or internet solutions to enhance service delivery.
Furthermore, the lack of integration with the national payment system infrastructure continues to hinder real-time transactions of large amounts of money.
By embracing technology and streamlining operations, experts reckon Kenyan Saccos can enhance their competitiveness, improve member satisfaction, and ensure their long-term sustainability in the increasingly dynamic financial landscape.