KIGALI,
Rwanda, July 31, 2024 /PRNewswire/ -- Bank of
Kigali Plc, one of Africa's
leading and most transformative banks, and the largest commercial
bank in Rwanda, has partnered with
Veefin Solutions, a global leader in Supply Chain Finance (SCF) and
Banking-as-a-Service (BaaS) solutions. This partnership aims to
drive full-scale digital transformation across Corporate, SME,
Agribusiness, and Retail segments. With this collaboration, Bank of
Kigali will become the first
financial institution in the country to offer a fully digital,
hyper-personalized experience to its customers.
Veefin will empower Bank of Kigali with its flagship suite of
comprehensive SCF and Digital Lending solutions. This includes a
self-onboarding module available across all channels, automated
digital underwriting of loans via the Loan Origination Solution
(LOS), and efficient transaction management through the Loan
Management Solution (LMS), complemented by an advanced Debt
Recovery System.
Leadership Insights
Dr. Diane Karusisi, CEO of Bank of
Kigali, said, "This is yet another milestone in
the Bank's digitization journey. The partnership with Veefin will
help us boost efficiency and improve transparency in our loan
processes. Our esteemed clients will be able to apply for any
credit product using BK digital channels and will enjoy faster
turnaround times."
Raja Debnath,
Managing Director, Veefin Solutions, said, "Bank of Kigali's decision to partner Veefin's advanced
SCF and Digital Lending solutions underscores their commitment to
innovation. Africa and especially
Rwanda is at the epicentre of
technological adaptation and innovation, multiple banks in the
region have shown significant interest in implementing Veefin's
solution, reflecting a broader trend towards adopting cutting-edge
financial technologies to efficiency. Our partnership with Bank of
Kigali will set new benchmarks in
the continent for other lenders to follow."
About Bank of Kigali Plc
Bank of Kigali,
established in 1966, is Rwanda's
leading financial institution. Through its wide range of banking
services catering to individuals, small and medium enterprises
(SMEs), agribusinesses and corporate customers, the bank has played
a pivotal role in fostering economic resilience, innovation and
community development.
About Veefin Solutions Limited:
Veefin Solutions Limited (Veefin) is a global
leader in Digital Supply Chain Finance. Listed on BSE SME, the
company is reimagining Supply Chain Finance & Digital Lending
through its white-labelled Supply Chain Finance and Lending
solutions. Incorporated in 2020, Veefin is headquartered in
Mumbai with offices in
Dhaka (Bangladesh), Ahmedabad, &
Dubai. For more details, visit Website.
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SOURCE Veefin Solutions Ltd.