Kuda Bank

Kuda offers instant account opening via its mobile app, zero-fee transfers to other Kuda accounts, and up to 25 free inter-bank transfers to other banks monthly. Users can access budgeting tools, savings and investment features, and obtain physical and virtual debit cards (Visa/Mastercard). The platform supports bill payments for electricity, internet, TV, betting, and Cowry cards, along with airtime purchases and international transfers.

Kuda primarily targets digital-native individuals, small and medium-sized businesses (SMBs), and freelancers in Nigeria. It also serves the Nigerian diaspora in the United Kingdom, offering convenient ways to manage finances and send money home.

Kuda Microfinance Bank (MFB) is licensed and regulated by the Central Bank of Nigeria (CBN), ensuring adherence to financial regulations within Nigeria. Kuda Technologies UK Limited, which facilitates services in the UK, is an authorised Electronic Money Institution (EMI) regulated by the Financial Conduct Authority (FCA).

The bank employs robust security measures including industry-standard encryption (SSL/TLS) for data transmission, multi-factor authentication (MFA) to protect accounts, and continuous fraud monitoring systems. Biometric security options (fingerprint, facial recognition) are also available for enhanced app access.

Kuda's primary operational focus is Nigeria, where it serves a large and rapidly growing customer base. It has expanded its reach to the United Kingdom, catering specifically to the Nigerian diaspora who wish to manage their finances in both regions and facilitate remittances.