BPR Bank, MVend Launch ‘Gwiza’, a Digital Savings Wallet For The Unbanked
Gwiza promises to revolutionize the way customers manage their finances in the digital age.
BPR Bank in partnership with MVend Limited has launched an innovative digital savings wallet dubbed “Gwiza” that promises to revolutionize the way customers manage their finances in the digital age.
The partnership between BPR Bank and MVend brings together the traditional strength and reliability of BPR Bank with the cutting-edge technological expertise of MVend. This collaboration aims to provide customers with a seamless and secure digital wallet experience that combines the best of banking with modern financial tech services.
Gwiza is a digital financial services platform designed by MVend to cater to the needs of Africa’s unbanked and underbanked population. It is specifically tailored to savings groups and their members, digitizing the group’s operations while providing individual members with a payment tool that helps them build a transferable financial track record.
The launch of this partnership signifies a digital upgrade and transition of traditional community savings and loans to a best-in-class financial ecosystem.
Within the technical setup of the partnership, Gwiza customers will now be able to access funds through BPR bank branches and digital channels including Agents, ATMs, and mobile banking for cash-in and cash-out services.
“The Gwiza app which provides savings and loan services, as well as utility payments for users, can now scale its financial options across multiple service delivery points through BPR Bank branches and digital channels. We believe this will create substantial usage of financial services for both MVend and BPR Bank,” noted BPR Bank’s Managing Director, Ms. Mutesi Patience.
Mutesi also noted that the partnership is timely because consumers of financial services are constantly seeking innovative ways to save, borrow, and transact.
The CEO of MVend, Bobson Rugambwa expressed his excitement and stated “We’re excited to be partnering with Rwanda’s most recognizable bank brand to deliver financial services to the unbanked and underbanked.” “Our shared commitment to bettering the financial well-being of our customers, and combined experience in financial services and technology will undoubtedly produce some of the most cutting-edge fintech solutions for the market segments we serve.”
BPR Bank together with MVend will seek to work together in the future to tailor additional products suited to the Village Savings and Loans Associations (VSLAs) aimed at not just financially including them, but also growing incomes, and businesses — transforming their communities in line with BPR Bank’s brand purpose: “For People, For Better”.
