Banking as a Service and embedded finance enabler Ukheshe has partnered with Diamond Trust Bank to introduce an innovative BaaS platform in East Africa.BaaS, which entails delivering banking products and services through third-party distributors, is projected to experience a remarkable compound annual growth rate of 25% in specific markets. This new collaboration positions both entities to stay ahead of this rapid growth trajectory.
Jamie Loden, Chief Operating Officer at DTB, notes that the market is primed for novel offerings. “Consumers are increasingly aware of the available options in the market and favor convenience over cost. This opens up fresh opportunities for agile BaaS models.”Ukheshe has harnessed the coveted Eclipse platform to develop Wallets as a Service, integrated into the Astra platform launched by DTB in Kenya.
Loden emphasizes, “The partnership is a collaborative means for DTB and Ukheshe to realize our organizational strategic objectives across customer acquisition, value packaging, support, and management.
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