Mauritanian Bank for International Trade partners TagPay to launch digital bank, Masrvi

• With Marsvi launched in April, Mauritians can now carry out digital banking transactions

The Mauritanian Bank for International Trade (BMCI) has announced a partnership with TagPay to roll out its digital bank Masrvi, aimed at providing digital, value-added financial services to its customers.

TagPay is an international fintech company that provides an open and scalable next-generation Core Banking System (CBS). The solution enables financial institutions including retail banks, digital banks and electronic money institutions to meet customers’ expectations with innovative digital financial products.

Powered by TagPay, Masrvi was launched at the end of April and responds to Mauritanians’ banking needs by providing secure and accessible banking services, across the country through mobile networks, whilst offering convenience. Masrvi enables BMCI to provide its customers with secure, simple, fast, and easy-to-access banking products and services that can be tailored to their needs, all with a convenience that traditional banks cannot match.

Speaking on the launch, Moulay Abbas who is the President of BMCI says, “By leveraging TagPay’s next-generation Core Banking System and their teams’ project expertise, we were able to launch our digital bank, Masrvi, in record time. Within a month of launching, we have a network of 52 branches and more than 200 partner-businesses that accept Masrvi and the numbers continue to grow. Thanks to the proven robustness, agility, and short time-to-market of this solution, we will be able to rapidly grow our customers. This will help strengthen Masrvi’s product line and enable us to offer a full range of banking and financial products in the very short term.”

Commenting on the successful launch of Masrvi, Yves Eonnet, CEO of TagPay said: “By using TagPay’s next-generation Core Banking System, the Masrvi solution is leveraging an innovative and intuitive technology platform that offers a full range of banking functions. Thanks to its open architecture, flexibility, and scalability, the solution will allow the rollout or update of features the digital bank wishes to market. Certainly, Masrvi will promote financial inclusion and integration in Mauritania.”

With the provision, anyone with a cell phone, regardless of wireless carrier can download the Masrvi application and this enables them to open and operate a digital bank account with a number of operations such as withdrawal, deposit and transfer of money to other banks.