Bankly Launches Microfinance Bank

Bankly, a popular Fintech company specializing in payment processing, has announced the launch of Bankly Microfinance Bank, marking a significant milestone in their journey to provide accessible financial solutions in Nigeria.

The launch event held in Lagos showcased the newly introduced Group Savings features on the Bankly App. Bankly’s mission, which began in 2019, aims to address the financial challenges faced by groups saving collectively in local markets.

Their digitized approach revolutionized the traditional thrift collection system, ensuring transparency and ease of access. Bankly expanded agency banking, serving over 12 million with 50,000 agents in 2020.

Tomilola Majekodunmi, Co-founder, and CEO of Bankly expressed their commitment to easing financial processes, “We are thrilled to announce the launch of Bankly Microfinance Bank. At Bankly, we have always been committed to easing financial processes and addressing the pain points of everyday people through a wide range of financial products and services. With the launch of the Bankly Microfinance Bank and the group savings feature on the Bankly app, we have taken this commitment a step further, making it easier for everyday Nigerians to save, invest and spend without hassles.”

Uwem Ekanem, Vice President, Marketing at Bankly, emphasized their dedication to creating safe and seamless financial solutions for customers.

The launch event showcased the Group Savings feature, transforming the thrift system and contributions with innovation.