The South African financial industry has a large number of financial institutions which cater to the needs of high-income groups.
South Africa financial services institution Finbond, which began trading in 2003, is fast establishing itself as a leader in the micro credit industry. Following a listing on the Johannesburg Stock Exchange, Finbond received a further stamp of approval with the awarding of its banking licence from the South African Reserve Bank in 2012. It now employs more than 800 employees in its micro credit division, which also has 800 branches nationwide.
The difference with this institution is that Finbond’s micro credit division aims to supply products to the lower-income group in South Africa (about 40% of the population who are largely under-banked,) with the aim to empower them and avail a variety of products and services for the benefit of this target market.
Finbond is fast approaching it’s vision to become South Africa’s leading Mutual and Savings bank in South Africa, by “availing modern inclusive banking products and services that benefit and empower clients,” according to their website.
These product offerings include the investment and savings products and micro credit products divisions. By combining well-developed systems and innovative information technology, staff skill and expertise as well as an effective debit order collection system, Finbond provides a number of services efficiently to clients.
The institution offers a range of services, including personal loans, funeral plans, and credit life insurance with loans, cellular airtime and prepaid electricity at the branches.
Contact 012 460 7288 to contact Finbond.