Understanding table banking:Smart appraoch to financial growth
18/03/2025
Introduction
Table banking is a community-driven financial system where members of a group contribute and
borrow money among themselves. It operates like a savings and credit association, ensuring that
funds remain within the group for collective benefit. Unlike traditional banking, table banking is based on trust,
accountability, and financial inclusion.
How tablebanking works
1. Group Formation - Members form a self-regulated financial group.
2. Regular Contributions - Members deposit savings at agreed intervals (weekly, bi-weekly, or monthly).
3. Borrowing & Lending - Members can access loans from the pooled savings.
4. Loan Repayment - Borrowers repay with minimal or no interest, depending on the group’s policies.
5.Profit Sharing - At the end of a cycle, profits from lending may be shared among members.
Benefits of Using WAN
✅ Digital Savings & Loans - Members can contribute and borrow online via mobile or web platforms.
✅ Automated Record-Keeping - Secure tracking of all transactions for transparency.
✅ Smart Fund Distribution - Ensures fair allocation of loans based on savings history.
✅ Instant Notifications – Members receive real-time updates on contributions, loans, and repayments.
✅ Secure Transactions – Encrypted and secure financial operations, reducing fraud risks.
✅ Flexible Contribution Plans – Set savings goals that fit different financial needs.
✅ Multi-User Roles – Groups can assign roles such as treasurer, chairperson, and secretary.
Who Can Benefit from WAN?
Chama Groups & Savings Circles – Digitize traditional table banking.
SMEs & Entrepreneurs – Access quick business capital.
Community Development Groups – Manage collective savings efficiently.
Individuals Seeking Financial Growth – Join a group and start saving today.
Take Away
Table banking is a powerful financial tool that fosters community savings,
entrepreneurship, and financial security. By leveraging the WAN platform,
users can enhance their savings experience, access credit with ease,
and enjoy the convenience of a digital-first table banking system.
Join WAN today and experience a smarter way to grow your wealth!
By Admin
