Bringing Millions Into the Formal Economy Through Embedded Finance
Millions of working adults across the region remained outside the formal financial system, unable to access credit, savings, or insurance products through traditional bank branches. In 2026, a group of regional banks partnered to launch an embedded-finance layer, distributed through everyday merchant and telecom apps, that let first-time users open a wallet, build a credit history, and access microloans without ever visiting a branch.
The Challenge
Traditional onboarding required physical documentation, branch visits, and credit history that most unbanked customers simply didn't have. Banks wanted to serve this segment but lacked a low-cost distribution channel and a credit model that worked without a conventional financial track record.
Our Approach
- Embedded digital wallet and KYC flows directly into merchant and telecom apps customers already used daily.
- Built an alternative credit-scoring model using transaction and usage signals in place of conventional credit history.
- Rolled out microloan products with repayment terms suited to irregular, cash-based income patterns.
Key Results
- 2.4 million previously unbanked customers brought into the formal financial system.
- Over $180M in microloans processed in the first year.
- Onboarding time cut from a multi-day branch process to minutes, in-app.
The programme's success has prompted partner banks to extend the wallet into savings and micro-insurance products, treating financial inclusion not as a one-time onboarding event but as an ongoing relationship built on data the customer generates themselves.
