Virgin Money South Africa to bolster fintech app

According to CNBC, Virgin Money’s South Africa business is set to launch a zero monthly fee bank account and cheap cross-border payments technologies on its fintech app in the aim of broadening its offerings.

With approximately 500,000 customers between its personal loans and credit cards businesses currently using the platform, the latest string of updates are anticipated to bring more traction when they’re delivered in Q4 2019.

According to the CEO, the longterm plan is to launch such services and others across a broad number of emerging markets, helping to improve financial inclusion amongst all people. Further, the firm is hoping to have two million customers using its platforms within the next 18 months.