Understanding The Relationship Between Safe Haven MFB and Sudo

Sudo Africa is an infrastructure that provides end-to-end payment solutions to businesses, individuals, financial institutions, government establishments, digital banks, etc. We put the controls in the users' hands, to facilitate real-time payments, loyalty rewards, expense management, and other out-of-the-box use cases.

Recognizing the importance of seamless integrations and robust financial features, Sudo Africa offers users the ability to create, manage, and distribute virtual accounts and sub-accounts effortlessly. This user-friendly capability is made possible through Safe Haven MFB.

Safe Haven MFB, a licensed microfinance bank, is a wholly owned subsidiary of Sudo. This partnership was established in compliance with the regulations set by the Central Bank of Nigeria (CBN). Since card issuance is limited to financial institutions, Sudo needed the support of a licensed bank to legally issue cards; hence the collaboration. However, Safe Haven MFB operates independently and serves as its own entity, offering a wide range of banking services to businesses and individuals.

• One of the key features offered by Safe Haven MFB is the provision of virtual accounts, which are typically used for one-time payments. These accounts remain valid for a minimum of 15 minutes and a maximum of 24 hours, ensuring flexibility and convenience. Additionally, sub-accounts are available without any expiration date, offering extended usability. Users can also map payment cards to these accounts, enhancing their functionality.
• In line with Sudo Africa's commitment to collaboration, Safe Haven MFB operates an open API banking system. This enables businesses to integrate their services effortlessly and leverage the full potential of the Sudo ecosystem.
• Apart from its role as a digital banking platform, Safe Haven MFB also provides a range of services, including bill payments, payment/wallet services, and verification services. This comprehensive suite of offerings ensures that businesses and individuals have access to a wide array of financial tools and solutions.

The relationship between Safe Haven MFB and Sudo is symbiotic, with Safe Haven MFB serving as a vital component of the larger Sudo ecosystem. Together, we empower users, simplify financial operations, and provide innovative solutions for businesses and individuals alike.