DAR ES SALAAM, Sept. 1 -- VisionFund Tanzania Microfinance Bank is turning savings groups into a new pipeline for digital lending, allowing members to leverage their deposits to access collateral-free loans while cutting the cost of selected digital transactions.

The lender is betting on digital banking to expand beyond its physical branch network as competition for underserved customers intensifies, with the launch of its VFT Smart Banking App.

Chief Executive Officer Mr Rogathe Godson said the strategy was designed to bring banking services closer to customers where they live, work and conduct their businesses.

“The strategy is aimed at taking banking beyond physical branches and bringing financial services closer to customers ...