Bankly Launches Microfinance Bank, Unveils New Products

Bankly, the popular Fintech company that specializes in payment processing through POS terminals, has announced the launch of Bankly Microfinance Bank.

The launch of Bankly Microfinance Bank marks a significant milestone in Bankly’s journey to provide accessible financial solutions to individuals and businesses across Nigeria.

The launch event was held in Lagos and was attended by lifestyle influencers, journalists, and Bankly customers. During the event, guests were given an exclusive look at some of the newly introduced Group Savings features within the Bankly App.

Bankly’s journey began in 2019 with a mission to address the financial challenges faced by groups of individuals saving collectively in local markets. These small business owners lacked access to formal banking institutions but needed a secure place to save money from their sales.

 Speaking on the remarkable feat, Co-founder and CEO of Bankly, Tomilola Majekodunmi denoted, “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 the everyday Nigerians to save, invest and spend without hassles.”

“Every product, service and feature at Bankly is designed to create new avenues for customers to access unique, safe and seamless savings, investment and payment features — and the new developments at Bankly are no different,” said Uwem Ekanem, Vice President, Marketing at Bankly.