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How a leading financial services company expanded its customer base, presence and revenues with Estel’s m-Money Platform

A leading financial services company in Cameroon originally specialising in traditional money transfer to EU has over the years emerged as a leader in the financial services domain across the entire Central African region.
The company provides a bundle of services to meet the financial needs of the people in Central African countries ensuring consistent quality of service using reliable infrastructure, safe & quick transfer of funds and preserving the confidentiality of operations.

Business Challenge

It was observed that due to the massive capital requirements for opening traditional money transfer branches, the company was unable to expand and offer countrywide services. This limited their operations to a few branches only.

Solution

Using Estel’s innovative, scalable & robust platform gave the company the ability to transform its business and expand massively, thereby expanding its operations to every nook & corner of Cameroon.
Estel also enabled the company to expand its service offerings. Customers could now send & receive money right from mobile, including international money transfers without any account and also a Bill Payments service. The company also implemented cross-border remittance services in 6 countries.

Results

Estel’s Solution not only helped it to expand profitably but also fulfilled its ambition to emerge as a leader in digital financial service in the Central African market.

Key Highlights

  • A surge in Remittances, P2P, P2M & Bill payments
  • Exponential 12X growth in money transactions