WayaWaya and Choice Bank Launch WayaWaya Banking App

In Short

WayaWaya has partnered with Choice Bank to enter retail banking in Kenya.

The new product, called WayaWaya Banking, offers bank accounts and payment services under Choice Bank’s Central Bank of Kenya licence.

The app uses artificial intelligence, meaning software that looks for patterns in data, to personalise how the banking app is organised.

What Happened: How WayaWaya Banking Works With Choice Bank

WayaWaya has entered retail banking through a partnership with Choice Bank, positioning the product for Kenya’s digital banking market.

The deal lets WayaWaya offer bank accounts, multi-currency wallets, local and international transfers, and utility payments. These services run under Choice Bank’s Central Bank of Kenya (CBK) licence.

Choice Bank, described as a microfinance lender, will provide the regulated banking infrastructure. WayaWaya will build the app and manage customers.

WayaWaya Banking uses AI to analyse a user’s transactions and reorganise the app around how they earn, spend, save and invest. Teddy Ogallo, WayaWaya’s founder and chief executive, said banks usually build apps around products and expect customers to adapt, and that WayaWaya believes banking should adapt to the customer.

Ogallo gave examples of how the app changes by user type. An entrepreneur collecting payments and paying suppliers would see cash flow and business expenses first. A salaried worker would get budgeting and savings tools up front, while an investor’s dashboard would highlight portfolio activity.

Choice Bank chief commercial officer Patrick Russel said the lender’s role is to supply the banking rails, with WayaWaya controlling how services are presented to users.

Why It Matters: WayaWaya’s Pan-African Neobank Plan

WayaWaya was founded in 2016. It said the Kenyan launch is the first step toward building a pan-African neobank through partnerships with licensed banks in other markets.

The company plans to connect those partners through a single app, aiming to reduce the need for businesses operating across borders to use separate banking systems, payment networks, and currencies in each country.