Mbanking is a product launched by Orabank Togo and Togocom allowing users to transfer money between the bank accounts and their mobile wallets. Still in the pilot phase, the project intends to boost financial inclusion while increasing people’s access to banking through their mobile phones.
Mbanking gives users an opportunity to manage their accounts, check their bank balances and history of transactions. In the future, it will offer a loan product too. The project merges both partners (Axian and Oragroup) with parent firms Togocom and Orabank Togo) on mobile money and mobile banking.
It’s worth pointing out that Oranbank recently partnered with Semoa, a startup in Togo, to develop a solution for WhatsApp banking. Axian and Oragroup operate in a dozen countries across central and West Africa.
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