Velmie is expanding its presence in Kenya, Nigeria, and South Africa by launching a white-label digital wallet platform.
Digital transformation could be a game-changer for the African continent, and Fintech is currently one of the main drivers of this technology revolution. The tremendous opportunity for digitally-driven financial services companies lies in the high proportion of unbanked citizens, the immense size and favorable demographics of the African population, and the relatively limited state of technology.
Digital banking and financial products allow hundreds of millions of unbanked consumers to benefit from transacting online within their local context. Neobanking systems are designed to give financial companies access to automation, digitalization, and robust security, giving them ample opportunities to grow and innovate.
“There is a unique opportunity for Africa to become a world leader in FinTech, getting the most out of emerging technologies while greatly contributing to financial inclusion and innovation.” - Paul Shumsky, Head of Product.
Addressing the industry demands, Velmie saw the opportunity to establish itself as a strategic technology partner to companies that want to take advantage of the disruption opportunities presented by open banking in Africa. We saw it as a market offering great potential, given the significant proportion of the population who don’t have access to affordable and secure payment services.
Velmie expands its offering with white-label banking software for Africa
We developed a white-label mobile banking solution that supports secure and straightforward ways of initiating payments. It also makes it possible for businesses of all kinds to create their financial ecosystems, establishing trust and closer relationships with their customers.
Mobile wallet features
The main features of our mobile wallet platform, built on microservices architecture, include:
Secure two-factor authorization
Interactive identity verification
Advanced tiered KYC offers a built-in identity verification process that supports multiple countries and clients
Airtime purchases in unique digital currency specific to Africa
Peer-to-peer transfers with QR codes, address book, and payment link transactions
International remittances with multi-wallet and multi-currency features augmented with instant currency conversion
Branded payment cards
Real-time money transfers and currency conversion
Multiple currency support
Real-time QR code payments
Fast and convenient cash agent onboarding
Online onboarding of merchants to support both online and in-store transactions
The platform integrates with a variety of payment platforms, including:
African Payment Gateway and more.
Fintech software services
Velmie builds digital and mobile banking products, peer-to-peer lending, and microfinance solutions. In addition to these financial software products, we give our clients access to a dedicated team of experts who can adapt and customize solutions, as well as integrate additional capabilities where needed.
We deal with all conceivable kinds of customizations and custom development projects, whether it is a simple branding project or building in new platform features, we are ready to deploy dedicated teams to handle the tasks for our clients.
The service level agreement (SLA) support we supply is comprehensive, with quick response and resolution turnaround times. Thus, clients do not need to hire local support or engineering teams.
Velmie has been one of the first Fintech innovators to introduce enterprise blockchain technology in the financial services industry. It has also successfully developed payment solutions for its clients: a nationwide payment system in North Africa, clearance and custody solutions for banks, and others.
These projects have given us extensive experience in working with African digital financial service providers. As such, it has gained valuable regional-specific knowledge of the services most in-demand and the integration capabilities required for white-label mobile wallet platforms that cater to the African market.
The advantage of using white-label solutions to develop your Fintech offering is that you get immediate access to a cloud-based digital banking system, with all the functions you need to build an advanced and scalable solution. The technology platform we offer is highly scalable, secure, provides unlimited scope for customization, and offers end-to-end delivery.