Standard Bank Wednesday launched Unayo, a services platform that connects businesses, customers and communities and provides a single hub for economic activity.
It facilitates ease of transacting when paying for goods and services, money transfers and disbursements.
Introducing Unayo to Malawians, Chief Executive Phillip Madinga said the innovation aims at redefining the banking sector by creating new frontiers to serve Malawians better and wider but also connect ecosystems in the country.
“Unayo is a revolutionary services platform that enables us solve a range of problems faced by communities when handling their financial needs,” Madinga said.
Unayo registration has dual account utilisation either as merchant or customer designed for day to day banking services. Merchants and customers can transact with everyone in Malawi from any mobile network.
The platform allows customers to move money using Cash In and Cash Outs, and pay friends, family and merchants, and Electronic Money Transfers.
According to Madinga, Unayo will revolutionalise the banking industry for the better.
“Through this innovation, we are reiterating the fact that we are more than a bank and an ecosystems driver that connects customers and market players across the ecosystem.”
He further pointed out that that the bank is simultaneously addressing issues of financial inclusion and job creation through this innovation.
‘We are bringing as many Malawians as possible into the banking system via modern technologies. No one should be left behind when it comes to accessing banking services either as a merchant or customer or beneficiary.”