Microfinance bank introduces new payment features

From Bamigbola Gbolagunte, Akure

A leading digital banking platform and subsidiary of CapitalSage Technology, Kolomoni has introduced two new features for personal banking.

The new features, according to the company’s Head of Personal Banking, Simbiat Kazeem, include ‘Snap and Pay’ and ‘Schedule Payment.’

Kazeem, who unveiled the two new features for personal banking, said the features were designed with a view to enhancing user convenience, reducing transaction errors and streamlining everyday financial tasks.

She hinted that the Snap and Pay feature allows users to snap a photo of an account number, with the app using optical character recognition (OCR) to automatically extract the details.

“This eliminates the need for manual entry, making transactions faster, more accurate and effortless,” she said. Explaining the functions of the Schedule Payment feature, kazeem said the tool allows users to automate recurring bills, subscriptions, family commitments and transfers, ensuring timely payments without the stress of remembering deadlines.”

According to her, “Kolomoni’s mission is to simplify finance for the users and these features reflect our commitment to providing innovative solutions that save time and reduce errors.”

She explained further that the two newly introduced features would empower the customers to manage their finances efficiently, while focusing on what truly matters in their lives. “The new features reinforce Kolomoni’s position as a leader in digital banking innovation, particularly in a competitive fintech market where convenience and ease-of-use drive customers’ retention. By integrating technology with practical banking solutions, Kolomoni ensures that users have control, reliability and peace of mind in their financial transactions,” she said.

She added that the newly introduced tools simplify transactions and automate recurring payments, reinforcing its commitment to innovative, user-friendly digital banking solutions.

“With the new features, the financial institution has further promoted financial inclusion and empowered Africans through innovative banking solutions in Nigeria and Gambia,” she stated.