MVola Adopts WSO2 to Boost Digital Banking Growth
MVola, Madagascar's pioneering mobile money service and the country's first licensed digital bank, is transforming how millions manage their finances.
The company recently announced that it has scaled operations and transitioned from a telecom-run service into a standalone digital bank. As part of this evolution, MVola faced the need to build a modern, resilient, and scalable digital infrastructure.
To address this challenge, MVola revealed it turned to WSO2. The company selected WSO2's cloud-native integration and API management platform to support its growth and ensure operational independence.
Lakruwan Senevirathne, Chief Information Officer at MVola, said, 'We needed a platform that could deliver both reliability and flexibility at scale WSO2 gave us exactly that.'
iTelaSoft was brought in to implement the solution. The firm reported that it deployed a comprehensive WSO2 API Management platform alongside MVola's internal teams.
Shiraz Thajudeen, Head of EMEA at iTelaSoft, shared, 'We implemented the solution for MVola, thereby centralizing API management, improving scalability, and supporting 100 million transactions monthly.'
This integration: Reduced operational risks and enhanced performance.
Positioned MVola for future growth with real-time insights.
According to MVola, the company now manages over 20 APIs that handle more than 1 billion transactions annually. These include over 300 million customer-to-merchant transactions, powered by a stable integration with Amdocs DFS.
MVola also launched a secure, branded developer portal using WSO2. This enables external partners to easily integrate MVola's payment services into their apps and websites.
Senevirathne noted, 'WSO2 helped us expand beyond internal capabilities and open our ecosystem to trusted third parties critical to our mission of driving digital inclusion.'
In addition, MVola reported that WSO2 ensures consistent service delivery across channels. These range from USSD interfaces to the Super App, allowing MVola to meet customers on any device.
Real-time analytics and monitoring have also enhanced MVola's ability to optimize services and ensure continuous improvement.
Senevirathne concluded, 'WSO2 has been instrumental in helping us build a future-proof digital banking platform. Their technology supports our goal of delivering accessible financial services to every Malagasy citizen.'
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