Nigeria-born digital banking platform, Kuda, is on its way to power digital banking services in Pakistan, as the fintech is set to acquire a digital banking licence from the State Bank of Pakistan.
This licence will be issued to KT Bank”, a joint venture between Kuda and two leading Pakistani companies, positioning the fintech as one of the five companies to receive the highly coveted digital banking licence in the country.
Kuda and four other banks edged out 15 other applicants for this licence, including all the Pakistani commercial banks that applied.