DTB and Boya Join Forces to Introduce Virtual Cards for Business Payments

• The virtual expense card will help businesses to manage both local and international payments and expenses with one virtual card solution at zero fees.

• The partnership is a collaborative effort between the two organisations that combines their respective strengths to drive innovation, enhance customer experience, and reshape the financial industry.

Nairobi, 25 July 2023: Diamond Trust Bank (DTB) has partnered with Boya, a leading technology provider, to launch a virtual expense card which will help businesses to manage their payments and expenses with one solution at zero fees.

As part of DTB's digital transformation strategy, the introduction of Banking as a Service (BaaS) through its Astra platform has paved the way for dynamic collaborations with fintechs like Boya. Astra empowers fintech companies to leverage DTB's expertise and infrastructure, enabling them to provide innovative financial solutions that cater to the unique needs of their customers.

Boya's strong foothold in the Kenyan fintech industry, coupled with its commitment to delivering exceptional expense management solutions, makes it a perfect match for DTB's vision. This partnership promises to redefine the future of expense management in the country.

Under the partnership, Boya has integrated DTB's Cards as a Service offering into its platform. This integration will enable Boya's customers to access virtual corporate cards, supported by the Visa card scheme. Through these virtual corporate cards, businesses can efficiently track, manage, and reconcile company expenses, streamlining financial processes and promoting financial transparency.

Speaking at the launch event, DTB's Group CEO and Managing Director, Nasim Devji, highlighted the significance of this partnership, stating, "Today, we embark on an exciting journey with Boya, where innovation and collaboration will drive real change in the realm of financial services. Our 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 the customers access to personalized, secure, and user-friendly financial solutions, and position us at the forefront of the industry,”

The Boya platform is a comprehensive, cloud-based platform that simplifies and automates the entire expense management process. With a user-friendly interface and advanced features, businesses can now effortlessly manage expenses, improve financial visibility, and drive significant cost savings.

Boya Chief Executive Officer Mr. Alphas Sinja said, "We are excited to partner with DTB to introduce our cutting-edge Virtual Card Expense Management solution 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, our solution enables organizations to focus on core activities and achieve their strategic goals."

This partnership represents a compelling blend of technological prowess, customer-centricity, and innovation, which underlines the commitment of both organizations to driving positive change, creating lasting impacts, and fostering economic growth in Kenya.