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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