Lynk mobile wallet solution introduced by fintech TFOB (2021) Limited, a subsidiary of NCB Financial Group Limited, is currently undertaking strategic workforce adjustments among other efficiency improvement initiatives.

This move aims to bolster operational efficiency and improve customer engagement, and aligns with NCB Financial Group’s emphasis on efficiency, governance, and customer experience (EGCE), recently highlighted by interim Group CEO Robert Almeida and chairman Michael Lee-Chin, during its Q3 Investor Briefing.

This strategic shift is part of NCB Financial Group’s current focus on evolving from a phase of significant upfront technology investment towards actively promoting the adoption and usage of its digital platforms and harnessing the returns on upfront investments. As the group transitions towards a phase focused on expanding adoption and utilisation, Lynk emerges as a tangible example of the group’s commitment to reshaping the future of banking and elevating the financial services landscape on a broader scale.

Lynk’s creation was driven by the desire to invest not only in the organisation’s future, but also in advancing the banking industry as a whole. NCBFG interim Group CEO Robert Almeida noted, “We are acutely aware of the considerable social benefits that come from promoting widespread financial inclusion and providing seamless, real-time payments”.

“With the Lynk platform now operational and having digitally onboarded over 200,000 customers in less than a year, many of whom were previously unbanked, the Group is taking proactive steps to optimise ongoing operational costs while harnessing the platform’s innate convenience. We aim to foster accelerated client adoption, enhance usage, and ultimately augment related revenues,” he continued.

As part of these strategic efforts, Lynk is implementing staffing adjustments. Almeida added, “While these adjustments will impact a small percentage of staff members across NCB Financial Group’s operational subsidiaries, we deeply value the contributions of every individual. Our commitment to supporting those affected during this transition is unwavering.”

NCB Financial Group’s HR team is actively involved in facilitating a seamless transition, offering comprehensive support and resources to all employees during this period.

This may very well mean some employees in the Lynk team may lose jobs if the product doesn’t manage to catch on soon. NCB senior executives said during the briefing that rather continuing to fund Lynk, returns are expected, with Lynk now needing to generate income.