TagPay powers Interbank Burundi to launch its digital bank IBB Mobile Plus «IBB M+»

Paris, April 22nd, 2021 - Created in 1993, Interbank Burundi (IBB) is the first 100% private Burundian bank in a market dominated by institutions whose capital was once primarily owned by the State of Burundi. IBB is recognized for its in-depth knowledge of customer expectations, its strong local presence, and for having the most extensive distribution network in the country. 

Interbank Burundi has chosen TagPay’s next-generation Core Banking System to launch its digital bank, called “IBB M+”. IBB M+ will offer a range of digital banking services for individuals, companies, and institutions. A digital bank is available and accessible 24 hours a day, which helps IBB meet the challenges of financial inclusion in Burundi. 

By choosing TagPay’s next-generation Core Banking System, IBB Mobile PlusIBB M+ will be leveraging a cloud-native solution that allows to imagine, configure, and integrate new products and experiences. The open, flexible, and scalable architecture of this technology will enable IBB M+ to deploy new features in only a few months while still meeting customer expectations. Any Burundian who owns a smartphone or cell phone will be able to access a wide range of financial services such as merchant payments, bill payments, P2P payments, bulk payments, or money transfer services. 

With an internet connection, users will be able to initiate transactions securely from their phone, tablet, or computer or via the IBB M+ app, available on Google Play and the App Store. Also, those without regular internet access or a smartphone will have the ability to execute transactions from their cell phones using SMS text messaging.

IBB Mobile Plus “IBB M+” will be accessible to the broadest possible audience through an extensive network of agents who will provide users with a simple and user-friendly experience. This new digital bank is accessible via its network throughout Burundi and through its Mobile Banking application for individuals and Internet Banking for companies, institutions, individuals, merchants, and agents.  

“Our IBB M+ digital financial services offer makes banking accessible to the non-banking population. IBB M+ provides customers with simple and secure access to innovative products adapted to their needs, and it contributes positively to the transformation of the Burundian economy. With this new digital offer, Burundians can have an IBB branch right in their pocket.”

Eric Jonckheere - Managing Director, IBB

“We are thrilled to be IBB’s technology partner. Our Core Banking System will enable the new digital bank IBB M+ to reach a greater number of Burundians and include them in the country’s formal digital economy. This will allow Burundians to easily access the full breadth of financial services and in a very secure way. We are providing technology for the benefit of humanity and the sustainable development of the African economy.”

Yves Eonnet - CEO, TagPay

About TagPay:

TagPay is a French fintech that offers an open, flexible, and scalable Next-Gen Core Banking System (CBS). The solution enables financial institutions (retail banks, digital banks, payment and e-money institutions, …) better meeting their customers’ expectations with new digital financial offers.

About Interbank Burundi:

Interbank Burundi is a primary player in the Burundian banking system that offers a wide range of products and services with proximity and responsiveness principles to clients as wide-ranging as diverse: institutions, NGOs, companies, national and international, SMEs, professionals, and individuals. Our mission is to provide our clients with tailor-made banking products and financial services, meeting the best international standards and allowing them to carry out their projects under the best conditions.

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