By A Special Correspondent
Selcom Microfinance Bank has unveiled Selcom Business, a next-generation digital banking platform designed to help Tanzanian businesses streamline financial operations, reduce transaction costs and accelerate digital transformation through an integrated suite of banking and payment solutions.
The launch marks a major expansion of the bank’s digital ecosystem following the success of Selcom Pesa, extending its focus from individual banking to businesses of all sizes.
The platform combines digital business accounts with payroll processing, payment collection, affordable transaction bundles and open REST APIs that enable companies to integrate banking services directly into their business systems.
The bank said Selcom Business has been developed to simplify how enterprises manage cash flow, salaries and digital payments while providing real-time visibility over their financial activities.
Among its flagship features is an automated payroll solution that enables businesses to process bulk salary payments to employees across banks and mobile money platforms in three simple steps – upload, approve and complete. The platform also introduces discounted monthly transaction bundles, branded as Bando Poa, Bando Bomba and Bando Max, targeting businesses with varying transaction volumes.
Companies can also pay suppliers, collect digital payments from customers, assign multiple user roles with controlled access, monitor revenues and expenses through interactive dashboards and manage digital receipts from a single portal.
A key differentiator is the platform’s developer-friendly REST API, which allows businesses to connect e-commerce platforms, enterprise resource planning (ERP) systems and other applications directly to Selcom’s payment infrastructure at no additional API access cost.
Speaking during the launch, Selcom Microfinance Bank Chief Executive Officer Aloyse Maro said the new platform reflects the bank’s commitment to empowering businesses with efficient digital financial tools.
“When we introduced Selcom Pesa, our goal was to simplify everyday transactions for individuals. With Selcom Business, we are taking that same commitment to the business level,” Mr Maro said.
“We understand that time and transaction fees directly impact a company’s bottom line. Selcom Business is engineered to be the digital backbone that supercharges business efficiency,” he added.
The launch comes as Tanzania continues to accelerate its digital economy agenda, with businesses increasingly adopting digital financial services to improve productivity and competitiveness. By offering integrated banking, payment automation and system connectivity in a single platform, Selcom Business is expected to support small and medium-sized enterprises as well as larger corporations seeking more efficient financial management. The bank says it remains committed to advancing financial inclusion and supporting business growth through innovative digital banking and payment solutions.
