MVola: Powering Financial Inclusion at Scale with WSO2

Dubai, UAE, July 1st 2025 – MVola, Madagascar’s pioneering mobile money service and the country’s first licensed digital bank, is redefining how millions access and manage financial services.

As MVola scaled operations and transitioned from a telecom-run service into a standalone digital bank, the company faced the critical challenge of building a modern, resilient, and scalable digital infrastructure. In response, MVola turned to WSO2 to provide a cloud-native integration and API management platform that could support its rapid growth and need for operational independence. “We needed a platform that could deliver both reliability and flexibility at scale—WSO2 gave us exactly that,” said Lakruwan Senevirathne, Chief Information Officer at MVola.

Working alongside MVola’s internal teams, iTelaSoft implemented a comprehensive WSO2 API Management solution at MVola. Head of EMEA at iTelaSoft, Shiraz Thajudeen said, “We implemented the solution for MVola, thereby centralizing API management, improving scalability, and supporting 100 million transactions monthly. This reduced operational risks, enhanced performance, and positioned MVola for future growth with real-time insights.”

With WSO2, MVola now manages over 20 APIs that handle more than 1 billion transactions each year. These include over 300 million high-volume, customer-to-merchant transactions powered through a stable integration with Amdocs DFS. The company also launched a secure, branded developer portal using WSO2, enabling external partners to easily integrate MVola’s payment services into their own apps and websites. “WSO2 helped us expand beyond internal capabilities and open our ecosystem to trusted third parties—critical to our mission of driving digital inclusion,” Senevirathne added.

Beyond performance and scalability, WSO2’s platform ensures consistent service delivery across channels, from the USSD interface to the Super App, allowing MVola to meet customers where they are—regardless of device or connectivity. Real-time analytics and seamless monitoring have further enhanced MVola’s ability to proactively optimize services and ensure continuous improvement.

“WSO2 has been instrumental in helping us build a future-proof digital banking platform,” said Senevirathne. “Their technology supports our goal of delivering accessible financial services to every Malagasy citizen, and positions us to keep innovating as demand grows.”

Read the full case study here.

About MVola

Launched in 2010, MVola’s mission is to provide access to affordable, high-quality financial services to all citizens in Madagascar. They are aiming for financial inclusion of the entire Malagasy population by offering them equal opportunities for success. By making money transfers accessible, MVola simplifies the lives of more than 10 million customers and also develops innovative savings, advance, and insurance services. MVola became the first Electronic Money Establishment (EME) in Madagascar in 2018 and obtained bank status in 2021, thus becoming the first digital bank in Madagascar.

About WSO2

Founded in 2005, WSO2 is the largest independent software vendor providing open-source API management, integration, and identity and access management (IAM) to thousands of enterprises in over 90 countries. WSO2’s products and platforms—including our next-gen internal developer platform, Choreo—empower organizations to leverage the full potential of artificial intelligence and APIs for securely delivering the next generation of AI-enabled digital services and applications. Our open-source, AI-driven, API-first approach frees developers and architects from vendor lock-in and enables rapid digital product creation. Recognized as leaders by industry analysts, WSO2 has more than 800 employees worldwide with offices in Australia, Brazil, Germany, India, Sri Lanka, the UAE, the UK, and the US, with over USD100M in annual recurring revenue. Visit https://wso2.com to learn more. Follow WSO2 on LinkedIn and X (Twitter).

About iTelaSoft

iTelaSoft is an innovation partner specializing in solving business challenges through technological solutions. Founded in 2009, the company is headquartered in Sydney, Australia, and has a team of over 150 experts working globally, including strategists, architects, DevOps engineers, designers, and developers. iTelaSoft offers services such as product development, digital transformation, AI enablement, custom software development and implementing WSO2 solutions and Salesforce. Their focus is on delivering tailored, impactful solutions to organizations of all sizes. For more details, visit iTelaSoft. Follow us on LinkedIn.