Mobile firm launches new fintech platform


A LOCAL mobile company Astro Group has launched a new electronic financial transaction platform, E-Shagi, aimed at easing the public’s way of accessing financial services through digital means.

Speaking at the launch of E-Shagi yesterday, Information Communication Technology (ICT) minister Jenfan Muswere, said the platform will create over 3 000 new jobs for young graduates and entrepreneurs.

“The platform we are launching here today, E-Shagi, is a financial technology (fintech) solution designed to enhance financial services efficiency to the transacting public. The new solution will enable banks, microfinance and other financial institutions to ride on digitalisation without investing in the acquisition of new technology but to leverage on existing advanced lending platforms with Service Oriented Architecture-based design and Straight Through Processing (STP) systems,” Muswere said.

He said the technology will be supported by a highly efficient credit decision making engine, which will help shorten the time taken to conclude a loan application, opening of a bank account and other transactions in retail shops.

“As we all know, the financial transactions environment is rapidly changing, hence there is need to harness new ways of adapting to the new innovations and technology to meet customers’ needs. E-Shagi is one such fintech solutions aimed at enabling the transacting public to access financial services through digital means’’.

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