Old Mutual has entered into a trategic partnership with fintech firm Paystack to upgrade digital payment capabilities on insurance and investment platforms, a move that signals continued digital transformation of the Group in East Africa.
Digital payment experiences Enhancement
Paystacks integration with Old Mutual digital platforms is aimed at making it easy and more attractive for the customers to pay for insurance and investment products. By virtue of the agreement, clients can now transact faster and more securely using various internet and mobile payment methods.
As a result of removing payment point resistance, Old Mutual is set to increase the number of customers who complete their transactions while providing a hassle-free, end, to, end digital experience through its platforms.
Besides customer convenience, the collaboration is projected to boost the companys operational efficiency by making payment dependable and reducing the number of transactions that get aborted.
The sleek procedure is conducive to higher conversion rates for Old Mutual changes that are digital in nature thereby consolidating the firms drive towards offering services through digital, first engagements.
“We are thrilled to work with Old Mutual in enhancing its digital payment capabilities. Our platform is geared towards making payments easy, and we are excited to help Old Mutual give its customers a fresh and seamless digital experience, ” Vikaran Ubhi, Chief Technology Officer at Paystack, said.
Expanding on Anchor 360 and Digital Innovation
This partnership comes after Old Mutual launched several digital initiatives, one of which is Anchor 360, a platform that was introduced last year to digitise financial services.
Anchor 360 makes portfolio management easy, gives better access to financial advice, and increases efficiency on both customer and advisor sides.
Enhancing Access and Transparency
The collaboration makes it possible to have effortless payments that match the lifestyle of digital, first customers. Hence, it is a step forward in increasing transparency, user, friendliness, and availability of financial services through Old Mutual.
Additionally, it showed the Group’s dedication to using technology as a lever to create sustainable growth in East Africa, a commitment that is strongly reinforced with this launch.
While Old Mutual is still making significant digital innovations, the Paystack partnership is indeed a turning point in the evolution of customer interactions with insurance and investment services in the region.