Kuda Microfinance Bank Limited
Our mission
To make financial services accessible, affordable, and rewarding for every Nigerian.
Our Milestones
2020
- In May 2020, we launched a COVID-19 fund to provide relief to vulnerable groups in Lagos.
2021
- In March 2021, we piloted overdrafts.
- In November 2021, we launched Visa cards.
- In December 2021, we passed the two-million-customer milestone.
- In February 2021, we passed 1.5 million iOS downloads.
2022
- In March 2022, we passed the three-million-customer milestone.
- In July 2022, we passed the four-million-customer milestone.
- In October 2022, we launched the Kuda Business account.
2023
- In June 2023, we passed the six-million-customer milestone.
Our Risk Management Practices
We are committed to maintaining the highest standards of risk management to ensure the safety, stability, and success of our business operations. We approach risk from an enterprise-wide standpoint, giving us the leverage to manage Kuda Microfinance Bank Limited’s (the “Bank”) multi-risks which include but are not limited to market risk, credit risk, operational risk, material risk, liquidity risk, regulatory compliance risk, cybersecurity risk, reputational risk and residual risk. Our risk management framework is designed to prevent, identify, assess, monitor, and mitigate risks across all areas of our operations enabling us to manage all risks that can hinder the Bank from achieving its strategic...Read moreOur Sustainability Initiatives
Our Communications Policy
- Remains visible, accessible, and accountable to its stakeholders.
- Provides prompt, courteous, and responsive service tailored to customer needs.
- Promotes the Bank's interests and enhances its brand image.
- Clearly defines communication channels in line with the organisational structure.
- Establishes consequences for the breach of this Policy.
- The Communications Unit will disseminate this Policy.
- The Human Resources & People Department is responsible for ensuring that all employees receive this Policy through internal communication channels.
- Compliance with this Policy will be monitored by the Internal Audit Department.
- All official communications must be in formal English.
- Written materials (policies, reports, etc.) should be clear, objective, and easily understandable.
- Correspondence with the Bank must also be in English, except where local languages are more appropriate for target audiences.
- The Kuda MFB logo must appear on all official documents and marketing materials.
- The logo must not be altered and should adhere to the brand guidelines at all times.
- Consistency in branding across all platforms is essential to maintain a strong corporate identity.
- All staff communications should be routed through appropriate channels to avoid misinformation.
- Only designated personnel may send mass emails or internal memos.
- Confidential information must not be shared outside the organisation without proper authorisation.
- All external correspondence must use official letterhead and approved fonts.
- Complaints from external parties should be directed to the Customer Experience Department for resolution.
- Media relations are managed by the Brand Unit, staff must not engage with media without prior approval.
- The Managing Director & Chief Executive Officer serves as the primary spokesperson for the Bank.
- Only authorized personnel may speak on behalf of the Bank or respond to media inquiries.
- Regular press releases and media engagements should be planned to maintain visibility.
- Respect for laws governing operations within the industry is paramount.
- Engagements with government officials should focus on building relationships rather than political affiliations.
- Supporting initiatives that benefit local communities and address societal challenges.
- Promoting environmental sustainability through relevant programs and partnerships.
- Crisis Management Team (CMT): A Crisis Management Team will be formed comprising key personnel from various departments/units including Communications, HR & People, Customer Experience, Legal, and Compliance.
- Crisis Communication Plan: A detailed plan will outline procedures for responding to crises that may impact public perception or operational integrity.
- Immediate Response Protocols:Upon identifying a crisis:1. The CMT will convene immediately to assess the situation.2. A spokesperson will be appointed to communicate with stakeholders.3. Initial statements will be prepared within one hour of crisis identification.
- Stakeholder Communication: Regular updates will be provided throughout the crisis duration through appropriate channels (press releases and social media updates).
- Post-Crisis Evaluation: After resolving a crisis, a debriefing session will be conducted to evaluate response effectiveness and identify areas for improvement.
- Breach of this Policy: Any employee found violating this Policy will face disciplinary action as laid out in the Kuda MFB Professional Conduct Code and Kuda MFB Disciplinary Policy and Sanctions Grid.
- Reporting Violations: Employees are encouraged to report any breach through established internal reporting channels without fear of retaliation.
- Investigation Procedures: All reported breaches will be investigated promptly by the HR & People Department in collaboration with relevant departments to determine appropriate actions based on findings.
- This Policy serves as a framework for effective communication at Kuda MFB. Adherence to the guidelines in this Policy will enhance stakeholder relationships, promote transparency, and uphold the Bank's reputation in the financial sector. Regular reviews of this Policy will ensure it remains relevant and effective in achieving its objectives.
Don’t just take our word for it
Well done to the guys at @kudabank had a dispensing error on Friday night and reached out to them on Sunday... 48 working hours after and my money is back in my account... Special shout out to Maxwell and Norah
Mu'azu Muhammad Kudu
Just joined the best Digital Bank in Nigeria
I have no complaints whatsoever since i started using Kuda
Tomisinv
Never thought an app would stylish become my everyday way to bank and have access to physical cash.
@kudabank is sleek
Babajide Duroshola
This is the best banking app! I’m enjoying seamless banking plus the free transfers to other banks is a thing of joy. This is what I call freedom. I’ve made kuda my main bank account and I’m gonna refer all my friends!
@RealSOK_
I like the fact that kuda Microfinance Bank doesn’t only run a no fee policy and 25 free transfers in a month but you can only create a budget plan to control your spending pattern. Really really nice!!
Adebambo Oyekan
I highly recommend this app, it does what it says "The bank of the free". I have received my kuda card.
Ifeanyichukwu Obaji
Well done to the guys at @kudabank had a dispensing error on Friday night and reached out to them on Sunday... 48 working hours after and my money is back in my account... Special shout out to Maxwell and Norah
Mu'azu Muhammad Kudu
Just joined the best Digital Bank in Nigeria
I have no complaints whatsoever since i started using Kuda
Tomisinv
Never thought an app would stylish become my everyday way to bank and have access to physical cash.
@kudabank is sleek
Babajide Duroshola
This is the best banking app! I’m enjoying seamless banking plus the free transfers to other banks is a thing of joy. This is what I call freedom. I’ve made kuda my main bank account and I’m gonna refer all my friends!
@RealSOK_
I like the fact that kuda Microfinance Bank doesn’t only run a no fee policy and 25 free transfers in a month but you can only create a budget plan to control your spending pattern. Really really nice!!
Adebambo Oyekan
I highly recommend this app, it does what it says "The bank of the free". I have received my kuda card.
Ifeanyichukwu Obaji