Kuda Bank is a product of Kuda Technologies. The bank is one of the mobile-only bank in Nigeria. Mobile-only bank means bank that are being operated only on mobile device connected with internet connection.
Kuda Bank is a Microfinance Bank (MFB) in Nigeria. The bank is licenced by the central bank of Nigeria (CBN) and insured by the Nigerian Deposition Insurance Cooperation (NDIC). Kuda Bank use it MFB License to operate as a Digital Bank and Neobank in Nigeria.
Kuda Bank full name is Kudabank Microfinance Bank (MFB). Just like Moniepoint, the fintech also obtained a MFB License from the Nigerian Apex Bank. Unlike OPay and PalmPay, they’re both operating in the country with a Mobile Money Operator (MMO) License.
In essence, Kuda Bank uses it MFB License to offers banking services like money transfer, bill payment, savings and investment and many more. Hence, the full name of Kuda is Kuda Bank MFB.
What is Another Name for Kuda Bank?
Kuda is a Fintech app and it represents the company business name. You can also refers to Kuda Bank as The Bank of the Free. Kuda is legally registered as Kuda Microsoft Bank and it is currently doing business as Kuda Technologies.
Kuda vs. Kudabank
Kuda is the business name of the fintech company while Kudabank is the name popularly use to call the fintech app. In a nutshell, Kuda Bank is currently operating under Kuda Microfinance Bank (MFB).
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