Frankfurt-listed FinTech, MyBucks, announced its merger its operations in Malawi (GetBucks Malawi and New Finance Bank Malawi) and New Finance Bank is therefore rebranding as MyBucks Banking Corporation.
In a statement released on Thursday 4th April, GetBucks has said the development is part of its strategy to increase and grow its banking presence in high-growth markets. The statement reads “The move forms part of the MyBucks Group’s strategy of consolidating its operations and streamlining services to enable fast, always-on technology-driven financial services to clients.”
The Chief Executive Officer of the newly established MyBucks Banking Corporation, Zandile Shaba, has described the merger as a very exciting development. “We are geared towards taking the customer experience to the next level as we bring on board all of our parent company’s technology, while expanding our reach to the unbanked.” she said. Likewise, MyBucks Chief Executive Officer Timothy Nuy says this is a very positive move for the banking industry as a whole and specifically for the MyBucks Group.
MyBucks S.A. is a FinTech company domiciled in Luxembourg that delivers financial services through technology, operating in eleven African countries and in Australia through its brands Fair Go Finance, GetBucks, GetSure, MBC, NFB and Opportunity Bank. The Group offers credit, banking solutions and insurance products to customers. MyBucks completed its 100% acquisition of New Finance Bank in January 2019.