Dar es Salaam. Selcom Microfinance Bank has launched Selcom Business, a digital banking platform designed to help businesses manage payments, payroll and cash flow more efficiently as demand for digital financial services continues to grow.
The platform, unveiled on Tuesday, July 28, builds on the bank's Selcom Pesa service and targets small, medium and large enterprises with a suite of digital banking tools aimed at reducing transaction costs and improving operational efficiency.
Among its features are bulk payroll processing, discounted transaction bundles based on business size, digital payment collection, multi-user account access, real-time transaction monitoring and application programming interface (API) integration for businesses seeking to connect their financial systems with the bank.
Speaking during the launch, Selcom Microfinance Bank chief executive officer Aloyse Maro said the new platform was developed to address the financial management needs of businesses operating in an increasingly digital economy.
"When we introduced Selcom Pesa, our goal was to simplify everyday transactions for individuals. With Selcom Business, we are extending that commitment to businesses by providing digital tools that improve efficiency and reduce operating costs," he said.
Mr Maro said businesses would also be able to integrate the platform with e-commerce websites, enterprise resource planning (ERP) systems and other business applications through open APIs at no additional access cost.
The bank has also introduced three monthly transaction bundles, branded Bando Poa, Bando Bomba and Bando Max, offering discounted transaction fees based on customers' transaction volumes.
Selcom Microfinance Bank, which is regulated by the Bank of Tanzania, said the launch forms part of its broader strategy to support financial inclusion and accelerate digital transformation among Tanzanian businesses.
