Financial technology, often shortened to fintech, is the technology and innovation that aims to compete with traditional financial methods in the delivery of financial services.
It is an emerging industry that uses technology to improve activities in finance.
Below are some of the top fintech companies in Kenya.
1. Jambo Pay
JamboPay is an innovative electronic payments platform that enables one to securely make and receive payments through your phone, bank, over the web and at thousands of pay points across the world.
2. Abacus
Abacus builds web and mobile software to help investors across the globe access African financial markets.
The company makes it possible for both local and international investors to research and invest, any time, any where.
3. Grass roots bima
Grass roots Bima is an insurtech company established in 2016 to meet the insurance needs of the mass market through innovative inclusive insurance.
The company helps address and promote financial inclusion using innovative insurance products and services.
4. CellulantÂ
Cellullant is a digital payments service provider that prompts, collects, settles and reconciles payments in real time using mobile wallets to empower farmers across Africa as well as powering transactions for millions of merchants and utility facilities across Africa.
The company provides a mobile payment ecosystem connecting consumers, merchants, banks, etc.
5. Tala
Tala formerly known as Mkopo Rahisi is a micro-credit loan smartphone application that offers users instant loans of as low as Ksh 2000 to a maximum loan limit of Ksh 50,000.
6. PesaPal
PesaPal is an internet payment company with operations in Kenya, Uganda, Tanzania and Malawi.
PesaPal solutions allow users to shop online, pay bills etc
Other notable fintech companies are
- Remit
- Umati Capital
- Lipisa
- iNuka pap
- Chura
- Connect Africa