Bank of Africa deploys Clear2Pay mobile banking solution

Mergers, Acquisitions and Financial Results

The Bank of Africa is to provide customers in thirteen countries with further mobile financial services after inking an agreement to use of Mobile Internet Banking (MIB) solution provided by e-banking firm Clear2Pay.

The bank, a subsidiary of BMCE Bank, is growing into a major player in African banking with 1.4 million bank accounts, up by 24 percent from last year.

With Africa the second largest mobile market in the world, with over 50 percent of transactions taking place through mobile devices, the bank has moved to offer alternative methods of e-banking to its customers, after initial success with Clear2Pay’s OPF e-banking solution. They will launch services on November 13.

“Within the framework of our multi-channel strategy we feel compelled to offer our customers a flexible and ergonomic solution built for mobile internet, which facilitates ‘on the go’ access to our financial services,” said Alfa Barry, Head of Marketing of the Bank of Africa Group. “We deploy this strategy in order to capture a larger market share, whilst being close to our customers at the heart of their financial needs, which forms the true foundation of our group’s success.”

The bank says it opted for the solution because of the full integration with the existing e-Banking application, which facilitated a rapid deployment for their customers and for the bank users, who did not need further education.

The Bank of Africa Group out of 14 African countries and also in France, across a network of 14 commercial banks, one financial corporation, one mortgage bank, one leasing company, one  brokerage firm, two investment companies, one asset management company and one Group representative office in Paris.

Clear2Pay is a payments modernisation company that actively supports many global financial institutions to meet their payments unification goals through its pure SOA Open Payment Framework (OPF). Headquartered in Brussels, Belgium, the company facilitates banks and financial organisations in their provision of payments services, whether they be Card, ACH, Branch, Bulk, High Care or International payment transactions.