Kenyan fintech company WayaWaya has entered a strategic partnership with Choice Microfinance Bank to introduce AI-powered digital banking services, strengthen business payment capabilities and support its ambition to build a connected banking ecosystem across Africa.
The agreement, signed in Nairobi on 6 November 2026, brings together WayaWaya’s financial technology platform and Choice Bank’s regulated banking infrastructure.
Through the collaboration, the companies are introducing WayaWaya Banking, a digital banking service designed to help individuals and businesses manage financial activities through a single platform.
The partnership could also extend enhanced banking capabilities to approximately 32,000 businesses already using WayaWaya’s services.
Combining Banking Infrastructure with Financial Technology
Under the agreement, Choice Bank will provide the licensed banking infrastructure supporting the new service, while WayaWaya will manage the technology platform and customer experience.
The integration will allow users to access several financial services, including:
- Bank account opening and management
- Multi-currency account capabilities
- Local and international money transfers
- Foreign exchange services
- Utility bill payments
- Business collections and supplier payments
Choice Bank will hold customer deposits and undertake relevant know-your-customer checks within its regulatory framework.
WayaWaya, meanwhile, will maintain the customer-facing platform and develop technology that makes banking services more accessible.
The arrangement illustrates how fintech companies can collaborate with licensed financial institutions to expand their services without independently establishing a full banking infrastructure.
AI-Powered Banking Designed Around Customer Needs
One of the partnership’s distinguishing features is WayaWaya’s use of artificial intelligence to personalize banking experiences.
The company describes its approach as Intelligent Adaptive Banking.
Rather than presenting every customer with an identical banking interface, the technology analyses financial activity to determine which services may be most relevant to individual users.
For example, an entrepreneur managing customer collections and supplier payments could receive a dashboard prioritizing cash flow and business expenses.
A salaried professional might instead see budgeting, salary management and savings tools more prominently.
Similarly, customers managing investments could receive an interface that places greater emphasis on investment-related activities.
The system is designed to adapt as users’ financial circumstances and priorities change.
According to WayaWaya, the objective is to make digital banking more responsive to how individuals and businesses earn, spend, save and manage their money.
Partnership Targets 32,000 Businesses
Beyond personal banking, the collaboration is expected to strengthen financial services for WayaWaya’s existing business customers.
The fintech currently serves approximately 32,000 businesses through its ecosystem.
Previously, some merchants faced limitations when collecting, holding and transferring funds, particularly when payments needed to move between different financial platforms.
By integrating Choice Bank’s infrastructure, WayaWaya aims to allow businesses to retain funds within its ecosystem and use them for operational activities such as supplier payments and salary disbursements.
The partnership is also expected to support foreign exchange transactions, international transfers and domestic bank payments.
For small and medium-sized enterprises, these capabilities could reduce the complexity of managing multiple payment providers.
However, the companies have not publicly confirmed that all 32,000 businesses have already activated the new banking services.
Strengthening Kenya’s Digital Banking Market
Kenya is widely recognized as one of Africa’s leading digital payment markets, with mobile money playing a significant role in everyday financial transactions.
However, businesses increasingly require services beyond basic wallet transfers.
These include multi-currency accounts, regulated deposit facilities, foreign exchange capabilities and international payments.
The WayaWaya–Choice Bank partnership seeks to address these requirements by combining traditional banking infrastructure with a modern digital interface.
It also demonstrates the growing relevance of banking-as-a-service models, where licensed institutions provide regulated financial infrastructure to technology companies.
For banks, such partnerships create opportunities to reach new customers through digital distribution.
For fintech companies, they provide a route to offering broader financial services while working within established regulatory structures.
WayaWaya Eyes Pan-African Expansion
The Kenyan partnership also forms part of WayaWaya’s wider ambition to develop a connected digital banking platform across Africa.
The company plans to collaborate with licensed banks and financial infrastructure providers in additional markets.
Its long-term vision is to make cross-border financial services easier for individuals and businesses operating in multiple African countries.
For example, a business expanding from Kenya into another African market could potentially benefit from a more connected banking experience instead of navigating completely separate financial systems.
Nevertheless, expansion into additional countries will depend on local banking partnerships, regulatory approvals and operational readiness.
No specific launch timetable has been confirmed for the proposed regional expansion.
What This Means for Africa’s Fintech and Payments Industry
The collaboration highlights an important shift in Africa’s financial technology landscape.
Rather than competing exclusively with traditional banks, fintech companies are increasingly forming partnerships that combine digital innovation with regulated financial infrastructure.
For payment service providers and aggregators, this model may create opportunities for API integrations, merchant payment services and improved cross-border transaction capabilities.
For gaming, digital commerce and other online businesses operating across Africa, developments in banking infrastructure may eventually improve access to collections, payouts and foreign exchange services.
However, the WayaWaya–Choice Bank announcement does not establish that the new platform currently supports gaming or other high-risk merchant categories.
Such acceptance would require separate commercial and compliance confirmation.
The partnership also raises important considerations around data protection, AI transparency and the responsible use of customer financial information.
Looking Ahead
WayaWaya and Choice Bank’s collaboration represents another step towards integrating artificial intelligence, regulated banking and digital payment infrastructure in Africa.
Its commercial significance will depend on successful integration, customer adoption and the ability to deliver reliable financial services at scale.
With approximately 32,000 businesses already connected to WayaWaya’s ecosystem, the partnership offers a potential foundation for broader digital banking adoption.
For Africa’s fintech industry, the development reinforces a growing trend: the future of financial services may increasingly depend on partnerships that bring together banking licences, technology innovation and cross-border connectivity.
