Evolutionary Awards 2025 – SOLmate: the greatest impact

Category: The Greatest Impact

Describe your evolution:

We deliver a cutting edge bank like app to underserved and underbanked customers, bringing financial services through technology to many more deserving people in this country. We have given customers a safe place to store their wages, reduced reliance on cash in our society and eased the burden of employers (mostly small businesses) and how they pay their staff every month.

We believe our app is a fun and educational way of enhancing financial literacy through actively living the experience rather than watching or reading some material. Our new tipping product “Tips – e” now also gives marginalized people the opportunity to operate their own POS machine and get tipped directly into their SOLmate account, thus solving another issue in our society – i.e. people who rely on tips and gratuities who are earning less and less because people do carry cash as much as before. Now tippers can tap their cards and leave tips easily.

Describe the impact your evolution has had in response to its identified challenges and targeted outcomes.

We collect over R50m per month in wages and salaries and allow our customers to spend their funds in a safe and sophisticated way through debit cards, ewallets, EFTs, voucher purchases and even to send money back home overseas.

Supporting Documentation >