The Salone Payment Switch is transforming Sierra Leone’s banking and financial services sector, making transactions simpler, faster and more accessible for customers nationwide.

Developed under the leadership of Bank of Sierra Leone Governor, Dr. Ibrahim Stevens, with support from the World Bank, the cutting-edge system has now been fully adopted by commercial banks, mobile money providers and fintech institutions.

One satisfied customer, who operates accounts with two different commercial banks, shared his experience: “Before, cheque payments could take over three days to reflect in my account, which was a big challenge for my business. I often had to deal in cash. But now, transactions are much faster and more reliable.”

The Salone Payment Switch enables interoperability across all financial platforms, allowing customers to send and receive money seamlessly between different banks and mobile money networks. This leap in efficiency is being hailed by financial experts as a “game changer” for the economy.

“This system promotes a cashless economy, and over time, it will reduce pressure on the Leone. It’s good for the economy and even better for businesses,” remarked one financial analyst.

With growing adoption, the platform is set to open new opportunities for entrepreneurs, consumers and businesses of all sizes, cementing its role as a cornerstone of Sierra Leone’s digital financial transformation. https://thecalabashnewspaper.com/salone-payment-switch-sets-new-standard-for-banking-efficiency/