Kenyan fintech start-up Fingo has partnered with Ecobank Kenya to launch the Fingo Africa banking app. The app aims to drive financial inclusion by allowing users to open a bank account on their mobile phones in less than four minutes. It also offers free money transfers to other Fingo users and subsidized rates for transfers to M-Pesa users. Users can pay bills, save money, set saving goals, and receive payments through the app. The app is currently available in Kenya, with plans for a wider rollout across 33 African countries.
Facts
- Fingo and Ecobank have collaborated to launch the Fingo Africa banking app in Kenya.
- The app enables users to open a bank account on their mobile phones in less than four minutes.
- Users can send money to other Fingo users for free and to M-Pesa users at subsidized rates, reducing the cost of money transfers.
- The app allows customers to pay bills, save money, set saving goals, and create and send payment links to receive payments.
- Ecobank plans to expand the app’s availability beyond Kenya to the 33 African countries where it operates.
- Jeremy Awori, CEO of Ecobank Group, emphasizes that the app brings young people into the mainstream financial sector and addresses their needs and preferences.
- The app’s launch in Kenya aims to promote financial inclusion among young people and overcome the barriers to entry for young Africans in accessing finance.
