Velmie develops digital banking products, microfinance solutions, and peer-to-peer lending.
Fintech is a major driver of the revolution of digital technology which promises to change the future of the African continent. Because of the size of the African population, the vast number of unbanked people, and the relative dearth of technological expertise, there is a huge opportunity for digitally-driven financial service companies.
Mobile payment solutions offer the vast number of unbanked consumers the opportunity of reaping the benefits of online transactions that are tailored to their locale. Modern banking systems create opportunities for growth and innovation for financial companies by offering them a ticket to automation, digitalisation, and robust security.
Velmie, seeing the need, chose to establish itself as a strategic technology partner to other companies who seek to key into the opportunities presented by the disruption caused by open banking in Africa. In a continent with a vast number of people who lack access to affordable and secure payment services, Velmie saw a market with great potential.
According to Paul Shumsky, Head of Product, “There is a unique opportunity for Africa to become a world leader in Fintech, getting the most out of emerging technologies while greatly contributing to financial inclusion and innovation”
Velmie created a white-label digital banking solution that aids secure and direct routes of making payments. With the new system, several business brands can generate their own financial ecosystem, build trust, and more meaningful relationships with their customers.
Major Features of the Velmie Mobile Wallet Platform
The Velmie mobile wallet platform which is built on micro-service architecture has the following feature;
• It has a secure two-factor authorisation
• An interactive identity verification
• It has an advance tiered KYC which offers a built-in identity verification process
• It supports multiple countries and clients
• It allows airtime purchases in specific African digital currencies
• It allows payment of bills
• You can make peer-to-peer transfers using QR codes.
• It offers address books and payment link transactions
• It includes an international payment system made up of a multi-currency and multi-wallet features that also includes instant currency conversion
• It offers branded payment cards
• You can make real-time money transfers and currency conversion
• Its supports different currencies
• You can make Quick Payments using QR codes
• Cash agents can be easily and conveniently onboarded
• Online onboarding of merchants to aid online and in-store transactions
The Velmie platform can be integrated with other payment platforms such as;
• Flutterwave
• Mpesa
• Currencycloud
• African Payment Gateway
And others.
Velmie is amongst the first Fintech brands to establish enterprise blockchain technology for the financial service sector. It has also created robust payment solutions for its customers. Velmie has worked on several other projects recently, some of them are; a nationwide payment solution in North Africa and a clearance and custody solution for banks.
Through collaboration with African financial service providers, Velmie has gained a full understanding of the major services needed in Africa and the abilities required to integrate white-label mobile wallet platforms that serve the African market.
Velmie has successfully created digital banking products, peer-to-peer lending, and microfinance solutions. They also offer customers access to a dedicated team of experts who can adjust, tailor solutions, and integrate more capabilities wherever they are needed.
Velmie’s service level agreement (SLA) is comprehensive. It offers quick response and fast resolution so that clients do not need to engage the services of local support or engineering teams.
Velmie is equipped to handle all manner of custom development projects whether they be simple branding projects or the creation of new platforms, Velmie has in its employ, dedicated teams that can satisfy the specific desires of clients. Velmie has amassed a well-grounded knowledge of the African scene and can help you take advantage of the great opportunities offered by Africa’s large population. You can begin with a white-label mobile wallet solution before moving on to create your digital bank.
White-label solutions allow you quick access to a cloud-based digital banking system with all the tools needed for the creation of an advanced and scalable solution. Velmie’s technology offers a platform that is secure, highly scalable, proffers end-to-end delivery, and allows an unlimited possibility of customisation.
