Sagicor Bank joins on Mbanq’s platform

Sagicor Bank Barbados, the first fully digital bank in the English-speaking Caribbean, has launched on the Banking-as-a-Service (BaaS) platform provided by US-based fintech company Mbanq.

By utilising Mbanq’s platform, customers of Sagicor Bank will enjoy quick and convenient access to a range of financial services. They can open deposit and savings accounts within minutes, utilise virtual and physical cards, apply for loans and mortgages, and make domestic and international payments.

With its “branchless” digital financial services, Sagicor Bank aims to provide customers with a cost-effective and efficient alternative to traditional banks. The implementation of Mbanq’s technology allows the bank to offer cutting-edge digital financial services to the people and businesses of Barbados, according to George Thomas, CEO of Sagicor Bank Barbados.

Thomas further emphasizes that Mbanq’s technology enables Sagicor Bank to deliver a superior customer experience, positioning them as the sole bank in Barbados to provide virtual debit cards and cardless transactions through their automated banking machines.

Mbanq, headquartered in the United States, specializes in offering BaaS and Credit-Union-as-a-Service solutions. Their comprehensive services encompass compliance, lending, back-office operations, dispute resolution, complaints management, and customer-facing digital banking applications.