The App, which the bank described as a “super app”, is the first of its kind in the state, which is the commercial hub of Northern Nigeria.
Dantata said he decided to invest in the bank to give small scale business owners a chance to key into the modern banking system.
According to him, the services of the app would give small scale enterprises the ability to make transactions without physical currency.
“We want to see a change where a commercial tricycle operator would receive fare from passenger via this app without using physical cash.
“We want to see a woman frying akara or yam at the roadside, making transactions without app. The developers have tried to make it a super user friendly,” he said.
Dantata further stated that the bank had provided employment opportunities to teeming youth, not only in Kano, but the entire Northern region.
He further said the bank had so far employed one person from each ward in four states of Northern Nigeria, adding that plans are underway to expand the employment to cover Nigeria and expand across Africa.
The app contains packages targeting diaspora and cross border payment, the Product Lead of KMC Microfinance Bank, Abdulganiyyu Rufai, has said.
He said that is “why we have a multiple currency swap within the single app. We did not even stop at that, we also have a digital currency still on the same app.”
Mr Rufai said the app was developed with user friendly features that would ease transactions for customers, adding that it was built on futuristic technology.
He said the aim of the app was to give millions of small and medium business operators chance to access digital banking without technical difficulty.
The app, he said, was built on internet 2.5 which is above the commonly used internet services.
“As you can see, first of all we have a physical branch where people can go and engage in a traditional mode of banking and then we have a customer support center here.
“Of course, for those who are willing to maintain the status quo, however, we come up with a cutting-edge technology that will support urban professionals and all other people willing to serve people. What we have is not just another app it is a super app nice quite different from what is obtainable within Nigeria., it is an app that is built on futuristic technology,” the bank official said.
The official said the bank is targeting “unbanked and under-banked populace of Nigeria. That is why the technology can be operated even in hard-reached communities.”
