Societe Generale launches Yup in Ivory Coast and Senegal

Monday 18 September 2017 | 09:46 CET | News

Societe Generale has introduced new African mobile bank Yup in the Ivory Coast and Senegal. Yup is a new alternative to the traditional banking model in Africa, wiht a full range of transactional and financial services, even for those without a bank account. The service already has more than 30,000 open wallets and nearly 600 agents in the two countries. 

Based on an Agency Banking model, such as a network of third-party agents with whom the bank has formed partnerships (service stations, distribution trade, among others), Yup is accessible via an expanded network of distributors equipped with adapted terminals and, of course, via the mobile banking app of Societe Generale's different banks throughout Africa. With Yup, Societe Generale is widely available, local, and easy to use, to meet the needs of customers who have, until now, not been offered or have access to many banking solutions.

A transactional platform that will soon have mobile financial services added on, Yup customers can withdraw, deposit, and transfer money, pay bills, buy phone credit, and make payments to merchants. The Yup solution also digitises corporate payment flows. Soon, financial services like payday advances, credit, savings products, and international transfers will be added. 

Yup is for anyone with a mobile phone (smartphone or traditional mobile phone), no matter which mobile phone firms they use, thanks to the partnership with Tagpay. Tagpay is a French fintech in which Societe Generale is a shareholder. It developed NSDT contactless authentication technology, which is innovative and more intuitive for users than existing solutions on the market. YUP is based on the innovation ecosystem at its Innovation Lab in Dakar, on the Jokkolabs premises. 

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