Fintech Platform Layer Allies With UBA To Foster Digital Transformation In Kenya

Layer and United Bank for Africa (UBA) have allied to foster digital transformation in Kenya.

Layer is a digital banking platform provider that enables large financial institutions to improve their customer and back-office digital experiences.

The coalition will add 18 million users across 25 different countries to Layer’s platform. At the same time, UBA will provide banking services in different jurisdictions from one central platform without altering core banking systems.

Layer's patented platform enables banks to offer their customers a blend of traditional and neobank capabilities through one platform that sits on top of core banking systems and connects through open source technology (APIs). UBA has implemented all the capabilities available on the Layer platform to provide end-to-end digitalisation of their banking services, delivered through a new mobile app and website across 18 markets in 4 different languages.

Mr Kennedy Uzoka, UBA Group MD, said: “We conducted a very thorough digital banking vendor/platform evaluation process across the global market considering the advancement in technology, richness of features, ownership cost-effectiveness and smooth implementation approach.”

Layer hopes to accelerate financial inclusion and digital transformation processes across the world through similar partnerships. For example, the digital banking platform currently delivers banking services to over 25 million consumers through its existing collaborations.

Speaking about the significance of the partnership, Roy Zakka, Founder and CEO of Layer, commented: “This is an exciting and ambitious partnership in spirit and scale. We are delighted to work with UBA to accelerate the arrival of digital banking services across the continent of Africa and Europe. We are helping position UBA as a digital-first leader across Africa while also helping reduce their annual spend by more than 40% for mobile applications alone.”

While only 4 in 10 people in Kenya have access to smartphones, sales are accelerating, with Africa expected to account for 7.1% of the total smartphone marketplace by 2023. Over the last five years, Kenya’s National Treasury and Planning agency is finalising a digital policy to ensure that financial services are digitally connected, according to the Kenya National Payments System 2021-2025 report draft.

Layer is assisting UBA to position itself to revolutionise the way it does business across Kenya and the African continent by becoming the go-to bank that ensures a seamless experience for staff and customers.