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Barbados challenger Sagicor Bank launches on Mbanq’s BaaS platform

Using Mbanq’s platform, Sagicor Bank customers will be able to open deposit and savings accounts in a “couple of minutes”, access virtual and physical cards, loans and mortgages and make payments domestically and internationally.

Through its “branchless” digital financial services, Sagicor Bank aims to offer customers a low cost and more efficient alternative to traditional banks.

“Mbanq’s technology enables Sagicor Bank Barbados to bring cost-efficient, cutting-edge digital financial services to the people and businesses of Barbados,” says George Thomas, CEO of Sagicor Bank Barbados.

Thomas adds that Mbanq’s technology allows the bank to deliver a “superior” customer experience and makes it “the only bank in Barbados to offer virtual debit cards and cardless transactions via our automated banking machines”.

US-based Mbanq is a provider of BaaS and Credit-Union-as-a-Service solutions. Its services include compliance, lending, back-office, disputes and complaints, as well as customer-facing digital banking apps.