Kuda Bank has upgraded its business banking services to better serve NGOs and religious organisations. This update allows charities, religious bodies, and other incorporated trustees to open accounts without lengthy paperwork. Previously, these organisations faced long waits and manual processes.
According to Nosa Oyegun, Kuda’s SVP of Business Banking, this move removes structural barriers slowing Nigerian organisations. He explained that NGOs manage funds impacting communities but often deal with outdated banking systems.
With the update, incorporated trustees can now open Kuda Business accounts entirely online. Organisations gain access to modern financial tools, helping them reduce administrative workload. The app enables users to manage donations, grants, and operational expenses efficiently.
Moreover, Kuda’s business solutions allow real-time transaction tracking and professional account statement generation. Trustees, treasurers, and administrators can access accounts with controlled permissions. This digital approach ensures transparency and simplifies audits.
Many NGOs and religious institutions previously relied on manual, branch-based systems. The new Kuda update reduces delays and boosts operational efficiency. Regulatory requirements are still fully met while manual reviews and support tasks decrease.
As Nigeria embraces cashless payments and digital finance, organisations face pressure to maintain transparency. Kuda’s solution provides a dedicated digital account, unlike traditional banks treating incorporated trustees as special cases.
This update is expected to help NGOs and religious organisations focus on their mission. Faster financial management and improved transparency now allow them to serve communities more effectively. Kuda’s innovation makes it easier for organisations to thrive in today’s digital financial landscape.
