Bankily brings digital banking revolution in Mauritania

Bankily brings a digital revolution in the banking industry of Mauritania by enabling people to open and manage bank account, transfer money and make payments using mobile phones. With Bankily, users can easily and instantly do host of financial transactions digitally including transferring money, paying electricity and water bills, buying phone credit, paying merchant, crowd-funding (mobile tontine), ordering a cheque book and bank card, checking account balance, and generating an account statement.

Banque Populaire de Mauritanie (BPM), one of the leading banks in Mauritania has launched a state-of-the-art mobile banking service called Bankily earlier this year. The service has received a positive response from consumers. With banking penetration around 30%, Bankily is helping to modernize banking and payments in Mauritania and encouraging financial inclusion in the country. Bankily is powered by Comviva'smobiquity® Banking Suite. Bankily brings a digital revolution in the banking industry of Mauritania by enabling people to open and manage bank account, transfer money, and make payments using mobile phones. The service is accessible using all mobile phones, smartphones, or basic, via the Bankily mobile app or USSD code *888# for Mattel subscribers.

Consumers can open a bank account remotely by downloading the Bankily app from Google Play Store or Apple App Store or by dialling the USSD code and registering using the 10 digits national identification number (NNI) available on the national identity card or residence permit. Opening the Bankily account is free and it has no account maintenance fee as well. Bankily users can deposit money into and withdraw money from Bankily account through Bankily agents, BPM Bank branches, and BPM ATM spread across Mauritania. With Bankily, users can easily and instantly do a host of financial transactions digitally including transferring money, paying electricity and water bills, buying phone credit, paying merchant, crowd-funding (mobile tontine), ordering a checkbook and bank card, checking account balance, and generating an account statement. Bankily is an inclusive service. Bankily users can not only transfer money to other Bankily users, BPM bank accounts and other bank accounts in Mauritania, but they can also send money to non-Bankily unbanked consumers using the recipient's mobile number. Bankily offers diverse ways to make money transfer - using recipient's mobile number, or selecting recipient from the Facebook contact list, or via contactless payments using NFC and QR Code. The recipients receive a notification or message with a transaction code. Non-Bankily users can withdraw the money transfer in cash using the transaction code at Bankily agents, BPM bank branches, or BPM ATMs.

Bankily has been designed with a complete focus on customers. For example, after the first electricity and water bill payment, users are automatically notified about their next invoice. In case of financial emergency, users can request money from their family and friends and instantly receive money once approved by the sender. To enable wider service access, BPM has created an extensive Bankily agent network aimed at facilitating last-mile transactions such as deposits and withdrawals. Moreover, to boost digital payments at merchants via Bankily, BPM has registered multiple merchants from diverse categories such as supermarkets, grocery stores, pharmacies, fuel stations, travel agencies, hospitals, schools, and restaurants. Payments at merchants can be made by scanning the QR Code or entering the merchant code on the mobile phone. Elaborating on Bankily, Mohamed M'Rabih Rabou, Chief, Digital Banking Services at Banque Populaire de Mauritanie said, "Through Bankily, BPM aims to extend financial inclusion and banking penetration in Mauritania. The product aims to make the opening of a bank account accessible to all Mauritanian citizens regardless of their geographic location and purchasing power. This mobile banking service fully supports the measures undertaken by the Central Bank of Mauritania to modernization and digitize the means of payments in the country. We are happy to partner with Comviva for offering Bankily service and meet the financial aspirations of our customers." Srinivas Nidugondi, Executive Vice President and Chief Operating Officer, Mobile Financial Solutions, Comviva said, "Digital technology is transforming the banking industry and Comviva is enabling this transformation for banks and financial institutions globally. In Mauritania, we are carrying forward this digital revolution with BPM through the Bankily service, delivering quick, convenient, and secure digital banking and payment services to Mauritanians." Banque Populaire de Mauritanie (BPM) is one of the largest banks in Mauritania. BPM offers individuals, professionals, and businesses an innovative range of banking products and services ranging from deposits to loans. It has built a dense network of branches covering most of the major cities in the country. The BPM aims to meet the needs and expectations of its customers by offering innovative and quality banking products and services. Comviva's mobiquity® Banking suite is a comprehensive digital banking and payment solution for banks and financial institutions, to build, manage, optimize and deliver the omnichannel banking experience, as well as continuously iterate and engage the consumers, through instant configuration capability, personalization and experimentation engine. This empowers banks to deliver a hyper-personalized experience, thereby enhancing the customer's value, and, subsequently, profitably transition to the digital age. Moreover, the product also delivers seamless, swift, and secure digital payments to the customers, by facilitating prepaid wallets and leveraging technologies such as HCE, tokenization, and QR codes.

Note: mobiquity® is a registered trademark in India only. About Comviva Technologies Limited Comviva is the global leader in mobile solutions catering to The Business of Tomorrows. The company is a subsidiary of Tech Mahindra and a part of the $21 billion Mahindra Group. Its extensive portfolio of solutions spans digital financial services, customer value management, messaging and broadband solution and digital lifestyle services, and managed VAS services. It enables service providers to enhance customer experience, rationalize costs, and accelerate revenue growth. Comviva's solutions are deployed by over 130 mobile service providers and financial institutions in over 95 countries and enrich the lives of over two billion people to deliver a better future.