For years, financial inclusion in Africa was framed as a problem of access. More branches, more agents, more paperwork. In Kenya—home to one of the world’s most vibrant mobile money ecosystems—that problem has largely been solved. Today, formal financial access among adults in Kenya sits at a record high of about 85 per cent, driven largely by digital channels that reach far beyond physical branches.
Yet access alone doesn’t guarantee inclusion. Millions save, transact, and borrow each day without ever building a formal financial identity that banks can measure and leverage. That’s where NCBA’s digital onboarding ecosystem—anchored by products like M-Shwari, Loop, and NCBA Now—is reshaping the landscape. Instead of merely opening accounts, these platforms turn everyday mobile behaviour into verifiable financial profiles—laying the groundwork for credit, protection, and investment opportunities.
From Cash to M-PESA
Kenya’s rise as a global fintech leader began with mobile money, led by M-Pesa. In 2007, only about 23 per cent of adults were banked; by the early 2020s the figure had risen sharply, substantially driven by the adoption of mobile wallets. Today, more than half of Kenyans use mobile money daily, a key foundation for digital onboarding platforms to engage customers.
Yet formal banking participation still doesn’t guarantee meaningful financial inclusion. According to Kenya’s latest FinAccess survey, only about 18 % of adults are considered financially healthy, signaling that many banked individuals still lack deep engagement with savings, credit, or investment instruments.
Onboarding That Converts Activity into Identity
In this context, NCBA’s onboarding ecosystem does more than register accounts—it formalises behaviour.
M-Shwari remains the best-known entry point for many. Born from a landmark partnership between NCBA and Safaricom, M-Shwari lets users open savings and loan accounts directly through their phones, with no branch visit required. Over the years, tens of millions of Kenyans have used M-Shwari, turning everyday mobile money usage into a track record that banks can recognise.
For customers seeking broader functionality, Loop offers a fully digital microbanking experience. With instant onboarding, customers can open accounts, access debit cards, and transact without ever entering a branch—making full-service banking as accessible as messaging apps on a smartphone.
Meanwhile, NCBA Now acts as a gateway to the bank’s wider digital ecosystem. Its tiered onboarding allows users to start with minimal information and unlock richer services as they transact more. This progressive approach is especially important in markets where formal identification and digital literacy vary widely.
Onboarding as an Ongoing Process
Traditional banking treats onboarding as a one-time compliance step. NCBA treats it as a dynamic journey.
Each deposit, withdrawal, or loan repayment feeds into an evolving profile. Over time, this behavioural data enables NCBA to adjust credit limits, tailor offers, and introduce customers to protection and investment products that make sense for their financial lives. It’s the difference between simply being “banked” and being bankable.
Digital Loan Growth Reflects Inclusion in Action
The numbers show this strategy working at scale. NCBA’s digital lending infrastructure—spanning M-Shwari, Loop, Fuliza, and related offerings—has disbursed hundreds of billions of Kenyan shillings in loans annually, underlining the depth of engagement across demographics.
These platforms are not fringe products; they are central to how Kenyans manage liquidity, smooth income volatility, and meet everyday financial needs—turning mobile phones into on-ramps to credit and savings.
Why This Matters for Kenya and East Africa
NCBA’s digital onboarding story is also a story about Kenya’s digital economy. With over 90 per cent mobile phone ownership and high uptake of digital payments, the country leads Sub-Saharan Africa in account ownership and mobile financial engagement. Neighboring markets like Uganda and Tanzania are following similar trends, with fintech innovation lowering barriers to entry and deepening inclusion.
For policymakers and development actors, Kenya’s experience offers a test case: digital channels can dramatically expand financial visibility—but only if the onboarding journey creates real, usable financial identities that institutions can understand and serve.
Visibility as the New Currency
In Kenya’s digital economy, simply having an account is no longer enough. The real leap occurs when everyday actions—saving a little in M-Shwari, repaying a Loop loan, or moving money in NCBA Now—translate into measurable financial behaviour.
NCBA’s digital onboarding turns mobile phones into engines of inclusion, transforming invisible savers into data-driven economic participants. Convenience may draw customers in, but visibility is what unlocks opportunity—credit access, protection against risk, and the possibility of long-term investment.
For a country that once struggled with financial exclusion, this shift marks a new chapter in how banking can serve the many, not just the few.