Wednesday, 15 November 2023 13:31

SV Fintech Launch

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Driven by a vision to enhance financial inclusion throughout Jamaica's economic landscape Supreme Ventures subsidiary, Supreme Ventures Fintech Limited (SVFL), is rapidly expanding its 'Evolve' suite of financial services. In a significant milestone towards realizing this vision, SVFL has secured a license from the Bank of Jamaica to operate a remittance business within the country, further advancing its expansion strategy.

Delroy Anderson, Chief Innovation Officer at SVFL, offered insights into the company's ambitious product expansion plans. "Supreme Ventures Fintech is ready to redefine convenience and access to financial services. Through the introduction of Evolve Pay, our bill payment service, Evolve Money Transfer and other products in the pipeline, we will empower individuals, businesses and communities with greater access to retail financial services and wealth creation opportunities. We’re very excited about our entry into bill payment and remittances and are targeting rapid growth in the space.”

Supreme Ventures Fintech has forged a strategic partnership with Ria Money Transfer and in the coming weeks will be rolling out Evolve Money Transfer. As the newest player in the remittance, Evolve Money Transfer is promising customers a more convenient option to receive money in Jamaica.

Anderson shared how SVL’s island-wide reach will be leveraged to offer easy access to its Evolve suite of products across the country. “We will capitalize on the strength of the Supreme Ventures brand, our robust transaction platform and expansive reach through our retailer network in every nook and cranny of Jamaica. We are executing a phased rollout of our products across the island. Customers can stay in the know and check for locations close to them that offer our services by visiting our website and social media pages. This is just the beginning of our mission to revolutionize the way people experience financial empowerment. We eagerly anticipate the lasting impact our innovations will have on our customers' lives.”

Each product in Supreme Ventures Fintech's portfolio is meticulously crafted with convenience, innovation, and a commitment to advancing financial inclusion and empowerment at its core. In 2021, the company launched its microfinancing product, Evolve Lend, catering exclusively to its 1,300 retail agents across the island. Through this product, SVFL has provided financing to many ambitious micro entrepreneurs who make up SVL’s retail network, empowering them to grow their businesses. That same year, SVFL acquired majority shares in microfinance company McKayla Financial Services, further cementing its presence in the financial services sector. In another positive move, in 2023, McKayla Financial Services received a microcredit license from the Bank of Jamaica. The popular ChargeUp product provides consumers with hassle-free access to prepaid top-up and recharge services. Charge Up is available at participating retail locations and ‘Supa Sellaz’ islandwide. Supa Sellaz is SVL’s roaming sales team that literally takes gaming “to the streets” through its mobile POS devices.

EvolvePay, initially introduced in a pilot phase in 2022, allows customers to pay bills at select Supreme Ventures locations across the island. With an ever-expanding cadre of popular billers, including Flow and the National Water Commission, Evolve Pay promises to become one of the most accessible and user-friendly options to pay bills. Customers who use Evolve pay will enjoy real time updates on their accounts. They will also be able to verify their bill balances in-store whether or not they have their bills in hand.

Anderson emphasized that the launch of these products under the company’s Evolve brand, represents just the beginning of Supreme Ventures Fintech's transformative journey. "We have a myriad of exciting products in the pipeline, offering our customers even more to look forward to in 2024. Our commitment to evolution knows no bounds," he affirmed.