Orabank Togo and Togocom to jointly launch a new mobile banking product

Banking

Wednesday, 16 December 2020 15:58

Orabank Togo and Togocom to jointly launch a new mobile banking product

(Togo First) - Orabank Togo and Togocom will launch Mbanking, a service that allows its users to transfer money between the bank and a mobile wallet.

The project, which is in its pilot phase, aims to boost financial inclusion and increase people's access to banking services, using their mobile devices.

Mbanking will enable users to manage their accounts, check their balance and transaction history, and in the future offer a nano-saving/loan product.

The project could consolidate the presence of both partners (Oragroup and Axian, respectively parent firms of Orabank Togo and Togocom) on the Mobile Money and Mobile Banking segments.

For Orabank, it should be noted that the lender recently teamed up with Togolese startup Semoa, to develop a WhatsApp banking solution.

Oragroup and Axian respectively operate in 12 countries (in West and Central Africa) and 6 countries (in Africa and the Indian Ocean region).

Ayi Renaud dossavi

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