Africa-Press – Lesotho. The Standard Lesotho Bank (SLB) has launched a brand-new platform UNAYO that enables people to make transactions with ease by just using a mobile phone.
UNAYO, which means ‘You have it’ is a low-cost, one-stop platform that can be used as a vehicle for growing businesses, giving easier access to markets, making transacting more convenient, providing economic
growth for the community, and ultimately making individual and collective dreams real. According to SLB Head of Digital Banking and Transformation Bright Pita, UNAYO is created to simplify the
payment mode for Basotho whom have always been challenged by accessing finances especially those in rural areas and the illiterate. “This platform was also
created to increase financial inclusion among the majority of the citizens of Lesotho and stimulate economic growth for informal markets, SLB has introduced
a brand-new platform that allows people to make transactions with ease by just using a mobile phone (android or smart phones and simple phone),” Pita informed.
He further highlighted that UNAYO is a low-cost, one-stop platform that can be used as a vehicle for growing businesses, giving easier access to markets, making transacting more
convenient, providing economic growth for the community, and ultimately making individual and collective dreams real. “As the term suggests, UNAYO means ‘u na le eona’ in our language.
Giving people access to basic financial services without having to deal with the day-to-day pay points. It has made it possible for anyone to transact using a mobile phone by simply dialing *388# or
downloading the app with menu options available in English and Sesotho. Self-on-boarding to the platform has been made even easier as there is no requirement to physically provideknow
your customer (KYC) paperwork,” Pita explained. He briefed that from the self-employed professional who wants to save towards their goals, the hardworking contractor who wants to send money to his family, to the humble
shop owner who wants to give their everyday customer a better experience, UNAYO is the answer. “As a financial services provider, we are constantly trying to find new ways to deliver our brand promise by enabling
business growth and empowering our communities. The arrival of UNAYO addresses the need for financial inclusion in our country and has given us the opportunity to increase customer-centricity by continuing to engage and give
impeccable service to all,” Pita noted. According to SLB Head of Client Solutions Thabiso Tsenki, UNAYO – through reduced transactional costs and shortened physical branch barriers – aims to bridge the divide between under-served
African communities that have always remained disenfranchised in regard to inclusive financial services. He pointed that it is already operational in Botswana, Malawi, Lesotho and Eswatini with broader country deployments to
follow. “Standard Bank estimates that it will facilitate up to 90% of Africa’s payments through UNAYO. In the first quarter of 2021, UNAYO has already processed over
60,000 payments. With its multiple function model which boasts Unstructured Supplementary Service Data (USSD), smart phone technology and App capabilities,
UNAYO holds a unique position to unwrap a punctual economic transformation and revive local financial transactional activities thus increased prosperity and global market competitiveness,” Tsenki highlighted.
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