Select Africa Onboards Veefin Solutions to Lead Digital Transformation Across Multiple Countries

Select Africa, a leading financial institution based in South Africa, has partnered with Veefin Solutions, a global leader in providing technology solutions for the BFSI sector, to drive its digital transformation across multiple countries in South and East Africa. This strategic collaboration marks a significant milestone in Select Africa's commitment to focusing on the unbanked segment and enabling easier access to financial services.

Through this partnership, Select Africa will utilize Veefin Solutions' end-to-end stack, including Onboarding, Loan Origination System, Loan Management System, Reporting Solution, and Collections Management System, to streamline its lending operations, deliver digital-first customer experiences, and foster innovation across its financial product offerings.

The multi-country rollout of Veefin's Digital Lending Suite will also enable Select Africa to expand its market presence into new geographies, drive technology-led financial inclusion, and cater to a segment often neglected by the formal banking industry. As digital transformation becomes a key driver of financial services, this partnership reaffirms Select Africa's vision of being a future-ready financial institution.

Wayne Faulds, CEO, Select Africa - Retail, expressed excitement about the partnership: "This collaboration with Veefin Solutions aligns perfectly with our vision of becoming a digitally-driven financial institution that prioritizes convenience, efficiency, and accessibility. By leveraging Veefin's comprehensive lending suite, we are confident in delivering an unparalleled, digital-first lending experience to our customers across multiple geographies."

Raja Debnath, Chairperson, Co-founder and CEO of Veefin Solutions, stated: "Select Africa's decision to onboard Veefin's Digital Lending Suite underscores their commitment to financial innovation and inclusion. As lending evolves, the adoption of advanced solutions is no longer an option but an absolute necessity. We are glad to be part of this journey with Select Africa and look forward to setting new industry benchmarks for financial inclusion."

Shares of Veefin Solutions Limited was last trading in BSE at Rs. 360.40 as compared to the previous close of Rs. 379.35. The total number of shares traded during the day was 36800 in over 127 trades.

The stock hit an intraday high of Rs. 380.00 and intraday low of 360.40. The net turnover during the day was Rs. 13391040.00.

Source : Equity Bulls

Keywords

VeefinSolutions INE0Q0M01015 ITEnabledServices SelectAfrica