Tanzania, Sept. 2 -- Arusha. VisionFund Tanzania Microfinance Bank Limited (VFT) has launched a mobile banking application that allows customers to open accounts, save, access loans and make selected payments using their smartphones.

The VFT Smart Banking App, launched in Arusha yesterday, is part of the bank's digital transformation strategy aimed at extending financial services beyond its branch network.

A key feature is the Dunduliza Group Account, which enables members of savings groups to borrow up to three times their savings without collateral, according to the bank statement.

According to the bank, the product seeks to combine the savings discipline and group-based lending model associated with VICOBA with digital banking.

VFT...