3 Neobanks offering advanced mobile banking services in Africa
By Delisha Fernandes
FairMoney is a credit-led mobile bank for emerging markets. The digital bank offers a range of digital financial products, including near-instant digital loans 24/7, investment products, savings, payments, and cards directly via its mobile app. The mobile bank offers 10,000 loans daily (one every 8 seconds!) in Nigeria and India and has banking operations in Nigeria, with over 6 million users.
TymeBank is a digital bank providing accessible and affordable banking services, including mobile banking, savings and loans. It aims to provide every South African with accessible and affordable banking so that they can take part in, grow, and benefit from the country’s economy. By helping them understand how money really works and giving them a transparent view of their own financial situation, TymeBank makes it easier for customers to make decisions today that translate into a secure financial future.
Umba is an African digital bank offering bank accounts and financial services to customers. The digital bank provides an ecosystem of connected financial services that allows the customer complete control of their finances all in one app. The digital platform offers seamless access to a wide range of banking services, including account management, payments, loans, savings, and more. Umba leverages technology and data-driven insights to streamline processes and make banking faster, smarter, and more convenient.
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