Following this announcement, Paymentology and Diamond Trust Bank will focus on facilitating the expansion of BIN sponsorship services and Embedded Finance solutions within Kenya’s overall regulatory framework.
In addition, both companies will focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
As trust and convenience represent key features for customers and businesses alike, and as more individuals rely on their preferred brands in order to make secure and fast payments, the process of providing physical and virtual cards is the next step in optimising individuals’ checkout experience and fostering loyalty through rewards programmes.
Embedded Finance aims to optimise the global economy by integrating financial solutions into everyday experiences. The collaboration between Paymentology and DTB is expected to exemplify the potential of Embedded Finance to drive an overall positive change across the industry, as well as foster inclusive economic growth on a global scale.
Following this initiative, the partnership is focused on driving financial inclusion across the region of Kenya, through the embedding of financial solutions and the deployment of Card-as-a-Service (CaaS), benefits that will be available for both licensed and unlicensed entities or businesses.
By combining Paymentology’s technological expertise and optimised platform with Diamond Trust Bank’s extensive market presence and regulatory compliance, the strategic deal is set to provide an aggregated card solution to fintech or any other non-financial organisation that aim to embbed a CaaS programme as part of their proposition.
In addition, the collaboration will democratise the issuance of cards, as well as give clients the possibility to access tailored solutions such as cards for employee salaries, travel cards, expense cards, or merchant’s cards for online transactions. Both companies will continue their strategy of accelerating the development of a more inclusive and improved digital payment ecosystem in East Africa, which is also aligned with DTB’s digital transformation plan.
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