Fintech unveils smart agency banking gadgets


By Taonga Sabola:

EFFICIENT— Ondego demonstrates how one of the gadgets works

Digital banking and payment solutions giant, Fintech, Wednesday unveiled smart agency banking machines which seek to enhance agency banking in the country.

The devices are smart point of sale terminals, rugged tablets and biometric solutions.


The launch of the machines come at a time commercial bank operations remain restricted to major cities and towns thereby excluding the rural masses.

Fintech Information Security and Value Add Services Manager, George Ondego, said the terminals provide a platform through which merchants and retailers carry out daily transactions.

“This is part of our effort towards complementing African governments’ effort towards achieving the objective of financial deepening and building cashless society.


“Banking services will be taken to the rural villages of Malawi where the traditional banks will be not be able to set up branches,” Ondego said.

He said Fintech understands that the trend around banking is heading towards digitisation which comes with requirements for both hardware and software.

“Our smart devices are Android based, with camera, NFC, printer, dual SIM cards as well as 2G,3G and 4G support. The devices support magnetic, smart and contactless readers,” Ondego said.

He noted that the rugged tablets are robust enough to withstand rough and extreme dry, wet and hot conditions.

“They come in different dimensions including 5”, 7”, and 10” displays. There are optional components such as finger print readers as well as integrated or Bluetooth printers.

“Our biometrics includes finger(s) readers, voice and facial solutions. The readers are built on light emitting sensor which makes them efficient and reliable than optical scanners,” Ondego said.

Bankers Association of Malawi Chief Executive Officer, Violet Santhe, said agency banking could help accelerate financial inclusion in the country.

She hailed Fintech for unveiling solutions that would help enhance agency banking in the country.

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