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Bankly is a Microfinance Bank popularly known for payment processing through POS terminals that serve businesses across Nigeria.
Bankly first entered the market as a technology company in 2019 to solve the problem of fraud and money losses within groups of individuals who were saving collectively in local markets. These were small business owners who had no access to formal banking institutions, but needed somewhere to save money made from their sales. They would often contribute to unverified individuals who kept no digital record and charged extra fees.
Bankly solved the problem by digitising the process, creating more transparency and making it possible for contributors to access their money easily. In 2020, it then expanded to include agency banking and have since served over 50,000 agents nationwide who have in turn provided access to financial services for over 12 million unique people till date.
Not resting on its laurels, Bankly realises that there’s still much to do in tackling the simple financial issues of everyday people.
In 2023 Bankly announced the launch of Bankly Ampersand Microfinance Bank, a lifestyle bank unique in its offering of banking features tailored to solve new problems like introducing Group Savings (Ajo), a feature that brings more innovation and transparency around group contributions; and improving on regular banking features like bill payments by offering discounts.
With this, Bankly is continuing on its path of creating simple banking solutions for everyday people and moving them forward.
Bankly is licensed by the Central Bank of Nigeria (CBN), protected by the Nigeria Deposit Insurance Company (NDIC), and registered with the National Association of Microfinance Banks (NAMB