FinTech Optasia secures PFTSP license by the Bank of Ghana

By Delisha Fernandes

Optasia, a FinTech company specializing in digital lending technology, has been granted a Payment and Financial Technology Service Provider (PFTSP) license by the Bank of Ghana.

This achievement marks a significant milestone in Optasia’s mission to drive financial inclusion and revolutionize the digital financial technology landscape in Ghana.

“As global leaders in financial technology through our AI platform, we are always committed to working with the authorities in every country we operate in and ensuring compliance to our operations,” stated Mark Muller, Group CEO of Optasia.  “The approval of our license to operate as a Payment and Financial Technology Service Provider in Ghana by Central Bank of Ghana is another testament of our solid efforts to establish our compliance and credibility in all regions we operate.”

The PFTSP license, granted to Xtra MFS Ghana Limited, a subsidiary of the Optasia Group, is a testament to Optasia’s commitment to providing secure, innovative, and inclusive financial technology solutions. With this license, Optasia aims to expand its credit scoring services to support a broader range of digital financial products that cater to the underserved and unbanked populations in Ghana.

The approval permits Optasia, through Xtra MFS Ghana, to offer its AI-led end-to-end proprietary technology to provide credit scoring and decisioning system to its financial institution clients in the country, allowing Optasia platform to enable the financial inclusion for millions of underbanked people in Ghana. Optasia’s offerings are currently utilized in over 35 countries, through distinguished financial institutions and MoMo/distribution partners, helping them to support underbanked populations that need financial inclusion the most.