DAR ES SALAAM, Sept. 2 -- DIGITAL banking is giving savings groups a new route to formal credit, allowing members to leverage their deposits for collateral-free loans while lowering the cost of selected digital transactions.

VisionFund Tanzania Microfinance Bank is betting on that shift with the launch of its VFT Smart Banking App, expanding access to banking services beyond its physical branch network as competition for underserved customers intensifies.

Chief Executive Officer Mr Rogathe Godson said yesterday that the digital strategy represents a broader shift in how the bank delivers financial services, allowing it to reach customers beyond its branch footprint.

“The strategy is aimed at taking banking beyond physical branche...