Nigeria’s FinTech Company, Kudimoney reported that it was named among the Top 50 Digital Bank’s list, one of the only 2 African Fintech companies that made the cut. The list was drawn up by Financial IT magazine, a leading publication in global FinTech, Artificial Intelligence, Digital Banking, and Blockchain.

The list, to our surprise, leaves out Wema Bank’s Alat which is also a notable Fintech product from Nigeria. The Magazine did explain that it’s ranking of digital banks is largely subjective.

It claims, “it is based on three criteria:

  1. Media coverage of the digital bank in question
  2. Apparent numbers of employees
  3. An assessment of the overall impact of the digital bank.

They also admitted that they may have inadvertently omitted some banks from the list. However, the Founder and Chief Executive Officer, kudimoney, Babs Ogundeyi, was nevertheless pleased with being included in the list. Kudi Money is an online platform that gives depositors attractive interest rates and uses the deposits to lend money to borrowers at competitive rates. Another, rival Fintech Company Cowry Wise offers a similar product, though using a completely different model.

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Kudimoney is an intelligent online savings platform that allows you to set up savings goals and then save money automatically as you want, daily, weekly, or monthly. Kudimoney started as a lending platform, but we realised that more people would save if it was as easy as spending and if they were rewarded for doing so – so we built the most secure way to save and get more because every kudi counts.


CULLED FROM: Nairametrics’ Corporate News


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