Boya Kenya, a Kenyan technology firm, in partnership with the Diamond Trust Bank (DTB) and VISA company, has launched a virtual expense card for Small and Medium Enterprises (SMEs) to help them manage their operational expenses and payments.
Speaking during the launch, Communications Authority Director General (DG), Ezra Chiloba, said that communication has moved to a digital platform that provides meaningful connectivity to Information, communications, and technology (ICT) services.
He added that strategies are in place to ensure digital access for all, foster competition in emerging technologies, protect ICT services and promote meaningful connectivity.
Chiloba remarked that connectivity is not all about the act or signs of connecting cables but all about ensuring that reliable connections, products and services are available to citizens to consume in the manner that is deserved.
“If you look at the communication sector over the years, the evolution has been moving in such a way that we innovate in a more digital world, looking at a future where we have digital access for all; where each citizen of this country, regardless of their status, can be able to enjoy the power of digitization,” observed the DG.
Also speaking at the event, Boya Chief Executive Officer (CEO) and Co-Founder, Mr. Alphas Sinia, said that the company is excited to introduce cutting-edge Virtual Card Expense Management solutions to Kenyan businesses.
“Our aim is to empower businesses with a comprehensive tool that simplifies expense tracking, enhances financial control, and drives operational efficiency by automating time-consuming tasks and providing valuable insights,” he explained.
Further, Sinia cautioned that traditional expense management processes often fall short of meeting the demands of modern businesses.
“Cumbersome paperwork, manual reconciliation, and time-consuming expense reporting can hinder productivity and impede financial visibility and in recognition of these challenges, Boya has developed an advanced virtual card solution designed to streamline and simplify expense management,” expressed Sinia.
At the same time, DTB Managing Director and CEO, Ms. Nasim Devji, said that innovation and collaboration will drive real change in the realm of financial services and the goal is to accelerate the development of innovative fintech products and services by serving as the link between banking and technology.
“This collaboration will give customers access to personalised, secure, and user-friendly financial solutions, and position us at the forefront of the industry,” Devji reiterated.
Some key features of the expense management solution include easy expense tracking, powerful reporting, mobile accessibility, seamless approvals, integration and automation.