“Kayi App” A New Financial Application launched by a Micro Finance Bank in Kano
By Abdullahi Jalaluddeen
A Kano -based financial institution named KMC Microfinance Bank has launched a mobile banking application, Kayi App in the state.
Speaking at the launch ceremony, held at the bank’s premises, located along Maganda Road in Kano metropolis on Thursday, the Product Lead of KMC Microfinance Bank, Abdulganiyyu Rufa’i, said the app was developed using a cutting-edge technology.
He said the application contains packages targeting diaspora and crossborder payment, adding that ” that is why we have a multiple currency swap within the single app. We did not even stop at that, we also have a digital currency still on the same app.”
Abdulganiyyu Rufa’i noted that the app was developed with user friendly features that would ease transactions for customers, adding that it was built on futuristic technology.
He explained that the app contained highly secured features that protect customers’ information and privacy, which according to him, is easy to operate even to small and medium enterprises.
The Program Lead maintained that the aim of the app was to give millions of small and medium business operators chance to access digital banking without technical difficulty.
Mr Rufa’i further explained that the app was built on internet 2.5, which according to him is above the commonly used internet services.
He added that it had robust security architecture that does not only give a user the ability to receive and send money, but also gives ability to invest, make purchases, pay insurance and other services.
The Product Lead also said the bank would continue to expand its services to banked and unbanked people in hard-reached communities in Kano and across Nigeria as a whole.
“As you can see, first of all we have a physical branch where people can go and engage in a traditional mode of banking and then we have a customer support center here.
“Of course for those who are willing to maintain the status quo however we come up with a cutting-edge technology that will support urban professionals and all other people willing to serve people. What we have is not just another app it is a super app nice quite different from what is obtainable within Nigeria., it is an app that is built on futuristic technology.
“It is built on internet 2.5 which is above the commonly used internet services. It has robust security architecture and of course, it does not only give you the ability to receive and send money, it also gives you ability to invest gives you ability to access quite a number of other services including you know, including a buy now and pay later, including insurance health services, and all other ssocially- oriented products all incorporated in a single app,” he said.
“We are targeting unbanked and under-banked populace of Nigeria. That is why the technology canoperate even in hard-reached communities. We also have other packages targeting diaspora and crossborder payment and that’s why we have a multiple currency swap within the single app. We did not even stop at that, we also have a digital currency still on the same app,” he added.
Speaking earlier, the chairman of the bank, Sa’adina Dantata said he decided to invest in the bank to give small scale business owners chance to key in in the modern banking system.
He said the services of the app would small scale enterprises ability to make transactions without physical currency.
“We want to see a change where a commercial tricycle operator would receive fare from passenger via this app without using physical cash.
“We want to see a woman frying akara or yam at the roadside, making transactions without app. The developers have tried to make it a super user friendly,” he said.
Mr Dantata also stated that the bank had provided employment opportunities to teeming youth, not only in Kano but in the Northern region.
According to him, the bank had so far employed one person from each ward in four states of Northern Nigeria, adding that plans are underway to expand the employment to cover Nigeria.
He also assured that the bank is planning assiduously to expand to the shore of Africa.
Time express reports that the app, which the bank described as “super app”, is the first of its kind in the state, which is the commercial hub of Northern Nigeria.