Madagascar’s first digital bank leverages WSO2’s cloud-native platform to support over a billion transactions annually and expand access to financial services.
MVola, Madagascar’s leading mobile money service and the country’s first licensed digital bank, is setting a new standard for financial inclusion through technology. As the company transitioned from a telecom-operated service to a standalone digital bank, it faced the challenge of building a resilient and scalable digital infrastructure. To meet this challenge, MVola partnered with WSO2, a global leader in open-source API management and integration.
With support from iTelaSoft, MVola implemented a comprehensive WSO2 API Management solution that now powers over 1 billion transactions annually. This includes more than 300 million customer-to-merchant transactions integrated with Amdocs DFS. The platform manages over 20 APIs and supports 100 million monthly transactions, enabling MVola to scale rapidly while maintaining performance and reliability.
“We implemented the solution for MVola, thereby centralizing API management, improving scalability, and supporting 100 million transactions monthly.” — Shiraz Thajudeen, Head of EMEA, iTelaSoft Headline:
MVola also launched a secure, branded developer portal using WSO2, allowing external partners to integrate its payment services into their own platforms. This move has opened MVola’s ecosystem to trusted third parties, a key step in its mission to drive digital inclusion across Madagascar.
WSO2’s platform ensures consistent service delivery across all customer touchpoints—from USSD interfaces to MVola’s Super App—regardless of device or connectivity. Real-time analytics and monitoring capabilities have empowered MVola to optimize services proactively and maintain high service quality.
“We needed a platform that could deliver both reliability and flexibility at scale—WSO2 gave us exactly that.” — Lakruwan Senevirathne, CIO, MVola
“WSO2 has been instrumental in helping us build a future-proof digital banking platform,” said Senevirathne. “Their technology supports our goal of delivering accessible financial services to every Malagasy citizen and positions us to keep innovating as demand grows.”
MVola’s success story highlights how strategic technology partnerships can accelerate financial inclusion and digital transformation. With WSO2 and iTelaSoft, MVola is not only meeting today’s demands but also preparing for the future of banking in Madagascar.
