International Bank (Liberia) Limited and Lonestar Cell MTN Introduce Mobile Ppayment Channel, Powered by Software Group

The International Bank (Liberia) Limited (IBLL) has successfully implemented its Push and Pull service with Lonestar Cell MTN, the largest wireless telecommunications network in Liberia, in partnership with Software Group. The project aimed to provide an alternate channel for IBLL customers to conduct transactions allowing access to funds and other services even in remote locations without bank presence.

Based on Software Group’s robust DigiWave platform, the Push and Pull service allows IBLL account holders to link their accounts to their Lonestar Cell MTN mobile money wallets, enabling them to move money from "bank to wallet" and vice versa with ease and from anywhere. With access to mobile money, the account holders can receive money from abroad via Sendwave, BnB, World Remit, and Remitly directly to their mobile money wallets, then, if necessary, push the remittance to their bank accounts.

 

“We are excited to roll out the MTN Push and Pull service, which is aimed at reducing overcrowding and long queues in our banking halls. By linking customers' accounts with their MTN Mobile Money accounts, our customers can now conveniently deposit, withdraw or conduct any financial transaction on their accounts remotely using their mobile phones. We are not only extending our services but also deepening our country's financial system,” said Sully Turay, Head of Digital Banking at IBLL.

‘’Mobile banking is a great channel to enable payments in remote areas thus we are very happy to offer this technology to IBLL and support them on their quest for digital innovation and financial inclusion,’’ said Jaime Pinto, Chief Commercial Officer for Software Group in Africa.

 

This delivery is in line with IBLL's strategy for promoting Banking: Anytime, Anywhere with added services. It also supports the Central Bank of Liberia’s financial inclusion strategy for digitizing the payment system in Liberia by 2023.

 

IBLL has been providing quality banking services to the Liberian community for over 50 years. The bank started its digital transformation journey in partnership with Software Group in 2017 and has since then rolled out a set of solutions, including ATM, Anti-Money Laundering (AML), Card Management and POS Management, mobile banking and internet banking. The project's next phase will include an integration of Orange Liberia Push and Pull Mobile wallet platform.

International Bank (Liberia) Limited has been providing quality banking services to the Liberian community for over 50 years. Formerly known as International Trust Company (ITC), ITC was established in 1947 by an act of legislature to manage the Liberian maritime program. ITC opened its commercial banking department in 1960 to handle customers' accounts, money transfers and provide credit facilities, and in 2000 became a standalone commercial bank, adopting the name - International Bank (Liberia) Limited. Over the years, IB has provided excellent and unparalleled 1st class services to its customers and is committed to empowering Liberians and playing its role in the building of the nation.