The management and staff of I&M Bank and SPENN Rwanda on January 18, 2019 visited and recognized one of their agents in the central business district to encourage the use of SPENN in making transactions. During the visit to AMUK Investment Ltd, I&M Bank’s Managing Director, Robin Bairstow, demonstrated how efficient it is to use the SPENN platform to withdraw and send money.
According to Kamanzi Iman, SPENN agent at AMUK Investment, the number of clients using SPENN is increasing every day and people are finding it faster and more efficient to withdraw and transfer money. "We started being SPENN agents three months ago and we really appreciate the platform. It is very simple to become a user and clients like it because it is free. All one needs is a phone and a bar code and the rest is a fast process that takes only a few minutes.
I&M Bank has positioned itself as a first-mover in the market and is the only bank in Rwanda offering free bank accounts to anyone, through SPENN. SPENN is a cost-free mobile banking application that facilitates unbanked Rwandans to become financially connected with the banked population.
"We are working hard to give everyone equal financial opportunities through innovative technology. We believe that SPENN is the solution and our daily users agree with us. They have simplified their lives and saved a lot of money on cost-free transfers,” says Robin Bairstow.
Rwanda is part of the cashless revolution happening in Africa. Since SPENN launched we have registered more than 180,000 users and they are increasing. We are proud that we are the only platform that gives Rwandans the opportunity to join the cashless society at no cost. The number of merchants is currently 4,216, including sectors such as electronics, restaurants, and pharmacies,” says Robin.
Blockbonds’ CEO, Mr.Jens Glaso, notes "We have a solution uniting consumers, businesses and private users, utilizing blockchain technology for world class security. For businesses we offer a free point-of-sale solution and make them visible on our map for all SPENN users” says Glaso.
He added that SPENN offers global airtime purchase using the app. For convenient and secure money transfers, all users have their own unique QR code to both receive and send money.
"We will continuously develop and improve SPENN and we are planning several new features for the near future with I&M Bank” he added.
The mobile banking platform doesn’t only target the unbanked but also the banked to ultimately bring efficiency and effectiveness in the way people transact and conduct business. In the future we strive to fulfil the vision of the Rwandan government to create a cashless economy by 2020. All you need is SPENN.