Digital banking application Vult, initiated by Velmie, makes its debut in Sierra Leone, aiming to enhance financial accessibility and inclusion.
Velmie Launches Sierra Leone's First Digital Banking Super App, Vult
In a groundbreaking move, global banking technology firm Velmie has unveiled Vult, Sierra Leone's first digital banking super app. Powered by Velmie's banking platform, Vult offers a comprehensive suite of digital financial services to the people of Sierra Leone.
The app, developed in less than six months, provides a wallet and Visa prepaid cards that support both virtual and physical formats. Key features include mobile payments, bill payments, utility and airtime top-ups, local tax payments, and seamless integration with business applications for cash management. Users can create and fund their cards directly without third parties, with full control features such as instant card freezing for security.
Vult's platform promotes financial inclusion in Sierra Leone by providing secure, convenient, and accessible digital banking services. With multi-currency wallets and cards accepted globally, users can manage transactions, shop online, pay subscriptions, and withdraw cash globally from ATMs. Transparent fees, real-time transaction insights, budgeting tools, and the ability to send and receive money instantly in multiple currencies are additional benefits.
Aminata Bangura, Vult's head of product, expressed pride in providing quality financial services tailored to the Sierra Leone market. She stated that Velmie's technology enabled the creation of such a solution. Slava Ivashkin, Velmie's CEO, expressed his pride in contributing to this transformation and emphasized the power of innovation. Collaborating with Metro Cable, a local broadband provider, allowed for the combination of cutting-edge technology with in-depth community insights.
The launch of Vult comes at a time when the World Bank recognises improvements in financial inclusion across Sub-Saharan Africa, driven by mobile money services. However, there is still progress to be made in ensuring equitable access for various groups, including women, low-income individuals, and those with limited education. Ivashkin stated that Vult is part of a larger mission to foster genuine, inclusive financial change.
Paul Shumsky, Velmie's Chief Marketing Officer, called the launch of Vult a major milestone for the continent. Aminata Bangura also stated that the Vult app is ready for expansion. The launch of Vult represents a significant leap for digital finance in Sierra Leone, offering users a next-generation payment solution that supports daily financial activities both locally and internationally.
The Vult digital banking super app, launched by Velmie, utilizes technology to provide financial inclusion by offering mobile money services in Sierra Leone, aligning with world news about improvements in financial inclusion across Sub-Saharan Africa. By integrating various digital financial services like bill payments and mobile payments into one platform, Vult aims to foster genuine, inclusive financial change, especially for underrepresented groups such as women and low-income individuals.
