Bankingly Keeps Revolutionizing Africa’s Fintech Landscape with Innovative Solutions

As the globe settles into this technological era, it becomes evident that digital banking is the way of the future. Fintechs are continuing to dismantle the traditional banking system, and future-oriented financial businesses are following suit. To stay alive, traditional banks have realized the significance of implementing digital banking technologies into their financial services.

Although it was in reaction to a global epidemic, bank digitization was increased in 2020 as a strategy to limit person-to-person contact, digital banking has now become the new normal and is projected to gain more prominence in the future.

Companies are trying to think innovatively and transformatively to take advantage of the global shift as this new fintech space unfolds in Africa. For already established banks with sufficient money to support their transformation, the process is simplified. Smaller, frequently disregarded financial institutions such as credit unions, microfinance banks, and small and medium companies (SMBs) have found the transition to be particularly difficult due to the lengthy procedure involved.

Bankingly’s entry into the African market is designed to address this issue by providing simple and smart digital banking solutions that promote inclusion and financial wellness across the continent.

Bankingly is a fintech firm that was founded in 2015 with the goal of changing the way financial institutions in emerging economies promote their digital channels and, as a result, facilitating financial inclusion for millions of individuals all over the world. Bankingly clients can adjust their prices to the benefits produced by using cloud-based technology with a SaaS business model based on the number of active users each institution obtains.

The Bankingly platform delivers a mobile application, a transactional website, a chatbot, and other various products through a quick, streamlined deployment procedure with high functionality and cybersecurity standards. Bankingly’s technology is trusted by over 1,500,000 people from around 100 organizations.

Bankingly’s products are critical for Africa’s growing digital financial market.

South Africa is regarded a leading contributor to the fintech industry in the larger Middle East and Africa (MEA) scene, according to the Fintech Times’ 2021 report on the Middle East and Africa. These figures demonstrate Africa’s growing fintech industry.

At the same time, we understand that South Africa, along with other African countries such as Nigeria, Kenya, Egypt, Mauritius, Ghana, and Tunisia, was ranked first in the tier-2 category, with Rwanda, Morocco, and Uganda being classified as “emerging countries” in the tier-3 early-stage fintech hub category.

The South African financial sector is one of the largest in the world, and its capital, Johannesburg, is home to some of Africa’s most powerful institutions, including Standard Bank Group and Absa Group, making it appealing to the fintech industry.

These larger traditional banks are increasingly collaborating with fintechs to create digital platforms that provide global access to banking services. However, the issue of inclusion arises, and Bankingly has highlighted this void. As a result, they supply smaller financial institutions with the same high-quality digital platforms, bridging the gap. Their goal is developing simple, smart, and accessible solutions will aid the expansion of financial inclusion not only in South Africa, but throughout Africa.

As a result, Bankingly’s mission remains the same: to bridge the financial gap and bring more individuals into the digital economy.

Bankingly’s solutions are straightforward but effective. They want to democratize people’s access to money and better services, regardless of their financial situation or geography. They presently operate in eight African countries: South Africa, Kenya, Ghana, Zambia, Tanzania, Nigeria, Uganda, and Morocco, in order to ensure that financial inclusion reaches all segments of society.

Bankingly works with banks, credit unions, and other financial organizations to deliver banking services that help people become more financially included. They provide mobile banking apps and web banking systems to minority banks, MFBs, and credit unions, among others, in order to increase digitization in the African economy.

They give training and awareness campaigns on the significance of digitizing financial institutions and developing a financially inclusive economy as the globe takes disruptive technological changes.

Customers will be able to monitor balances and movements, make internal, national, and international transfers, check and pay loans, check and pay cards, pay for various services, make fixed-term deposits, and request a new product through their all-in-one platform, among other functions.

Bankingly’s value proposition differentiates itself from its competitors by offering pay-per-use, a pricing plan based on the number of monthly active users, and incomparable time to market thanks to solutions that are not only easy and smart, but also quick, safe, and of high quality. Bankingly runs a simple and easy-to-use management system, 24/7 customer support, and flexible customizations.

With over 100 financial institutions subscribed in Latin America and Africa to its SaaS platform, Bankingly is quickly becoming South Africa’s choice for banking services.