Technology
TECH WORLD: Kuda Bank Broadening Banking Access With Innovation
The arrival of Nigeria’s free digital bank, Kudi Money, redefined the banking space.
Renamed Kuda Bank in 2019, the London-based startup operating with a microfinance licence and mobile banking services, has assumed prominence in the nation’s banking sector.
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The bank is Nigeria’s first mobile-only bank licensed by the Central Bank of Nigeria, CBN.
Founded in 2016 by two young Nigerians, Babs OG0ndeyi and Musty Mustapha, the bank has emerged as one of the leading fintech companies in the country. It was recently valued at $500 million, emerging as the seventh most valuable bank in Nigeria.
With over 2 million registered users, the fintech company started with a business model built around providing banking services to people who also have accounts with commercial banks. Providing banking services where customers can carry out all their transactions without having to visit a physical branch, makes Kuda Bank the leader in Africa’s Neobanks/ fintech generation.
Since its emergence, Kuda Bank has continuously provided unique banking services based on modern practices and infrastructure.
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