MyBucks unveils second phase of Mozambican bank’s evolution

20 August 2018
  • MyBucks Group changes name of Opportunity Bank to MBC

Maputo, 20 August 2018 - Frankfurt-listed fintech MyBucks S.A. is excited to announce the renaming of its Mozambican bank to bring the operation in line with the group’s brand and vision. Opportunity Bank will become MBC - MyBucks Banking Corporation - in a move that will allow the bank to leverage off the global MyBucks trust and brand equity, while also unlocking the group’s full stack of smart digital financial offerings.

MyBucks acquired Banco Oportunidade de Mocambique in 2016. During the last year, MyBucks raised in excess of US $17-million in funding for Mozambique, hired and trained 1000 employees and incorporated a new loans product suite, becoming the second-largest payroll loans service provider in Mozambique.

Now that the bank has a strong balance sheet and a well-trained and equipped workforce, MyBucks is implementing the second phase of its revolutionary plans for the bank, bringing online a fully functional digital product stack, including artificial intelligence (AI) chat bots that will allow the bank to disburse loans via Facebook and Whatsapp to Mozambican clients.

MyBucks group Executive Chairman Dave van Niekerk said: “The upgrade will allow an expanded product offering, with the technology platform enabling efficiency and security that is world-class. MBC joins the other brands in the MyBucks stable as it continues its mission of unlocking real value for all stakeholders while pioneering financial inclusion on the continent.”

Pieter van der Merwe of MBC said: “The MyBucks name will enhance the transition from traditional banking into a fully automated and efficient digital bank. The group’s proprietary technology is recognised across the continent.”

Van der Merwe said the rebranding will allow the bank to reach new levels of growth and prosperity. “The new MBC branding reflects that we are part of a leading global family. It also speaks to our values and the experience we aspire to offer our customers: an approachable, uncomplicated, modern bank.”

About MyBucks

MyBucks S.A. (WKN: A2AJLT, ISIN: LU1404975507, Ticker Symbol: MBC:GR) is a FinTech company based in Luxembourg that delivers seamless financial services through technology. Through its brands GetBucks and GetSure the company offers impact loans, unsecured consumer loans, banking solutions as well as insurance products to customers. MyBucks has experienced exponential growth since its inception in 2011 and today has operations in twelve African and two European countries as well as in Australia. MyBucks aims to ensure that its product offering is accessible, simple and trustworthy, in comparison to traditional, non-technological methods, ultimately working towards enhancing the benefits to the customer. The MyBucks’ product offering enables customers to manage their financial affairs easily and conveniently.