On Tuesday 10 October 2017, Financial IT Magazine released their 2017 Financial IT Top 50 Digital Banks list. Making it onto the list were two African companies, which included Nigerian Fintech company, Kudimoney, and South African company Bettr Finance.
Financial IT Magazine, a voice in global FinTech, AI, Digital Banking and Blockchain, every year recognises the top 50 global pioneers at the intersection of technology and digital banking services by publishing the report, and highlighting the roleplayers in the global digital banking industry.
Bettr Finance is run by Tobie van Zyl, Angus Brown and Andrzej Stempowski. According to the Financial IT Magazine, Bettr Finance is a fintech company with the vision to financially empower those who know their worth. They look to achieve this by providing tech and tools that improve the way you bank, save, borrow, insure and invest your money. Bettr Finance believes that everyone deserves better than the traditional financial system, and is looking to encourage people to join them in the future, where finance is more transparent, flexible, responsible and meaningful.
Babs Ogundeyi is the founder and CEO of Kudimoney. Describing Kudimoney to Financial IT Magazine, Ogundeyi said: “Kudimoney is building a Pan-African Digital Bank. A bank without boundaries, a bank that allows you access to your money (and our money) whenever you need it. We recently launched our first product, which is an online lending platform that allows you to access finance from the comfort of anywhere you happen to be. Our vision for lending is to make finance more accessible, our desire is to over time lower the cost and barriers to consumer lending.”
Ogundeyi then speaking to Nigerian Communications Week on the announcement said: “We are delighted to be recognised as a leading pioneer in digital banking.”
“At Kudimoney we are committed to developing a digital platform that ultimately makes banking easier and more affordable for Nigerians and Africans. By running a more efficient system, we are able to offer customers more value for their money, via higher interest rates on savings and deposits and lower interest rates on loans, all with an effortless banking experience,” Ogundeyi added.
Kudimoney, recently launched its online-only automatic savings product – a savings account that allows you to automatically save little (or large) amounts of money on a periodic basis.
“By Mid 2018, Kudimoney will be a full-service online-only bank, offering spending accounts, savings accounts, transfers and bill payments, as well as loans, all at a significantly better value than traditional players,” concluded Ogundeyi.