Togo: Coris Bank International launches e-money service

Monday, 04 July 2022 12:22
Togo: Coris Bank International launches e-money service

(Togo First) - Coris Bank International Togo launched its e-money service, Coris Money, last Friday, July 1. Through the move, the lender wants to boost financial inclusion in the country. 

“Beyond its innovative aspect, launching this tool today is CIB Togo’s contribution to the financial inclusion policy of Togolese authorities,” said Alassane Kaboré, Managing Director, CIB Togo.

Coris Money lets the bank’s customers and non-customers deposit and withdraw money using their phones. The app’s users can also pay their bills and transfer money within and outside Togo. 

According to CIB Togo, in its pilot phase, Coris Money had 15,000 users. The lender expects this figure to reach 35,000 by the end of the year.

Active in Togo since 2015, CIB’s subsidiary recorded a total balance sheet of CFA309.9 billion in 2020, or 50% more than it did in 2019–CFA205.38 billion.

Esaïe Edoh

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