KMC-Kayi Microfinance Bank Opens Headquarters In Kano

By Admin October 6, Oct 6, 2023

The chairman of Kano-based Kayi Microfinance Bank, Alhaji Sa’adina Dantata, has said the bank’s newly launched mobile banking application, Kayi App, will revolutionize banking in the state and beyond.

Dantata stated this at the launch of the bank’s headquarters in Kano, on Thursday.

Nigerian courier reports that the App, which the bank described as a “super app”, is the first of its kind in the state, which is the commercial hub of Northern Nigeria.

Sa’adina Dantata said he decided to invest in the bank to give small-scale business owners a chance to key into the modern banking system.

According to him, the services of the app would give small-scale enterprises the ability to make transactions without physical currency.

“We want to see a change where a commercial tricycle operator would receive fare from passengers 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 super user-friendly,” he said.

Dantata further stated that the bank had provided employment opportunities to teeming youth, not only in Kano, but the entire Northern region.

He further said 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 and expand across Africa.

The app contains packages targeting diaspora and cross-border payment, the Product Lead of KMC Microfinance Bank, Abdulganiyyu Rufai, has said.

He said 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.”

Mr Rufai said the app was developed with user-friendly features that would ease transactions for customers, adding that it was built on futuristic technology.

He said the aim of the app was to give millions of small and medium business operators a chance to access digital banking without technical difficulty.

The app, he said, was built on Internet 2.5 which is above the commonly used Internet services.

“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 and quite different from what is obtainable within Nigeria., it is an app that is built on futuristic technology,” the bank official said.

The official said the bank is targeting the “unbanked and under-banked populace of Nigeria. That is why the technology can be operated even in hard-reached communities.”

Launching the APP, the Emir of Kano Alhaji Aminu Ado Bayero lauded the owners of the outfit, adding that the device would enhance the growth and development of the economy of Kano State in particular and Nigeria in general.

He said Kano being the nation’s centre of commerce deserved more of such facilities as the KMC-KAYI APP that would support small businesses and other services.

He said the APP would help in overcoming the current financial inclusion challenges in society by creating viable channels “through which the unbanked could be financially engaged.”

He implored members of the Kano business community to seize the opportunity and patronize the APP in their business and trading undertakings.