The bank plans to work on that by targeting the digital-native, younger generations. Using Mambu digital core as its technology backbone and housed within the Amazon Web Service (AWS) cloud, the digital banking app offers users access to various banking services, including a zero balance savings account, fund transfer capabilities and a ‘Nest’ feature that helps users save for specific goals.
With zero legacies, the proposition can react to customers’ needs quickly. In regards to financial inclusivity, the service benefits from being branchless.
The service’s target audience is the ‘younger generations’ and its developers have hoped that by designing an ‘engaging and user-friendly interface’, the app will encourage this demographic to better understand and maintain their finances.
Updates to the service, which are expected to arrive over the course of the next year, will include term deposits, gig marketplace, debit card and personal financial management capabilities, alongside micro-financing and micro takaful insurance.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now