Financial app gains traction

mKey is targeted at Kenya’s increasingly digital population. FILE PHOTO | NMG 

mKey, Africa’s first keyboard app that converges social, and financial services into an integrated lifestyle, has recorded close to 100,000 downloads since its official launch in early September.

Finserve, the fintech that operates mKey, has reported that as at the end of October 99,970 users had downloaded the keyboard app with 309,000 transactions worth Sh17.8 million having being processed over this period. mKey additionally processed loans worth Sh5.2 million over this period.

The app is targeted at Kenya’s increasingly digital population that is becoming savvier in enhancing their lifestyle through technology and who evidently want to perform financial transactions without visiting a bank or even switching apps.

mKey results come on the heels of a recent report by the Communications Authority which stated that Equitel, another product by Finserve, similarly recorded strong growth over the fourth fiscal quarter (April-June 2018).