Appzone, a Nigerian-based fintech is expanding the operations of its BankOne; a banking system by the fintech, into East Africa with Kenya as its destination.
Appzone said that with BankOne, it is looking forward to providing the functionality that enables digital banks to engage its customers and deliver services without human interaction as part of its mandate to digitising financial services in the African continent.
Also, in its move to promote the digitization of the financial ecosystem in Kenya, the fintech hosted a cooperative movement – an international workshop – on Savings and Credit Cooperatives in Kenya (SACCOs).
The Harvard Business Review in February, 2021 said that, “Kenya Is Becoming a Global Hub of FinTech Innovation”. The blog post revealed that Kenya has seen skyrocketing mobile penetration rates, with subscriptions surpassing the total population amount by 12%, hence, in recent months, fintech innovations have followed.
Speaking on the expansion of BankOne’s operations into Kenya, Mudiaga Umukoro, CEO of Appzone Core said that the company plays a significant role in the first digitization phase of Nigeria’s financial sector and came to further prominence and adoption as digital challengers and neo-banks began to emerge.
“As Africa rapidly accelerates towards a fully digital banking future, it became imperative to better position BankOne to serve the continent’s growing number of Fintechs and neobanks. Our expansion into the Kenyan market follows the identification of key gaps in the availability of proper applicable and affordable banking automation technology”, Umukoro said.
Yvonne Ige, the CCO of Appzone Core also added, “We strongly believe in the exciting prospects that abound in the financial ecosystem here, we are very committed to exposing (SACCOs) and the financial system here to an efficient and approved top tier bank grade digital banking solutions that enable progress for everyone”.
