Bloc launches flagship business banking product for African businesses

Bloc, a financial technology company, has launched a new flagship business banking product that provides African businesses with access to simple and advanced financial services. The product includes features such as corporate bank accounts, transfers, virtual cards, USD accounts, and more.

The launch of this new product marks a new phase in Bloc’s mission to help businesses take advantage of the numerous opportunities in the global market. Bloc’s customers will be able to access essential banking services powered by licensed banks such as Bloc Microfinance Bank, Providus Bank, and Sterling Bank.

In addition to the essentials, Bloc Business Banking will provide advanced features and value-added services to maximize the average customer’s banking experience with Bloc. These features include USD accounts, accepting payments globally, bill payment, custom checkout, and payment links.

“We understand the challenges businesses face when managing their finances, and we think we can do a great job helping them do it seamlessly,” said Edmund Olotu, CEO and founder of Bloc.

Bloc has worked closely with startups and non-tech businesses for the past two years to learn their problems with the financial services readily available today. Olotu said, “Businesses are constantly looking for ways to reduce their risk, improve how they spend money, keep and grow their deposits, and maximise their overall financial operations.”

With this launch, Bloc sees itself as the “Mercury Bank + Unit for African businesses” — a control center where you can access reliable business banking products/services and build custom applications with embedded financial services.

Bloc’s mission is to provide African non-tech organisations and tech startups with everything they need to start, survive, and thrive. From local setup and go-to-market to global expansion, Bloc aims to be their partner every step of the way.

“It’s still early days, and we’re excited to learn what our customers think and how we can improve the product to make them even happier,” commented Jerry Enebeli, Chief Product Officer of Bloc.

Bloc’s business banking product is now live and open to all businesses. Visit https://www.blochq.io/ to sign up.

Bloc is currently only available on the Web but will release the mobile app in Q1 2024.