Inlaks, a financial technology solutions provider in Nigeria and sub-Saharan Africa has introduced solar powered mobile branch solution to eliminate the constraints associated with brick and mortar bank branches, designed to empower over 46.9 million unbanked Nigerians, THISDAY reports.
According to Director, Infrastructure Business at Inlaks, Tope Dare, “This mobile solution has been designed to provide customers convenient access to cash at remote locations as well as busy areas without physical bank structures. The vehicle can be dispatched to specific locations to provide a second or third ATM during events such as trade fairs, festivals, exhibitions, conferences amongst other events.”
“With our unique mobile branch solution, African banks will not be required to have physical branches before enrolling millions of their unbanked population, as the mobile banking platform will provide a cost effective method to service smaller or targeted markets,” he added.
Explaining how the company is working with the banks to achieve the objective of reaching the unbanked, Dare said Inlaks would collaborate with financial institutions who plan to establish new branches to open ‘on-site’ with the solar powered mobile solution, while their permanent branch is still under construction.