Kenyans living abroad face challenges in sending money home due to limited banking options. David Wachira, a former World Bank analyst, recognized this issue and founded Waya, a digital banking and financial services startup, to address it.
Waya's mission is to provide accessible and inclusive banking services, financial education, and credit-building opportunities to immigrants and minorities in the US. The company has partnered with local financial institutions and payment service providers to offer services such as digital bank accounts, debit cards, and money transfers.
Waya's technology platform prioritizes data security and transactional integrity. The company uses digital identity verification, two-factor authentication, and advanced technology to protect client information and prevent illicit activities.
Waya's team plans to expand its reach and empower more people, particularly immigrants and minorities, to become financially included. The company believes that financial institutions should recognize the needs of these communities and offer tailored solutions.
Wachira emphasizes the importance of investing in startups like Waya to provide access to financial services for the unbanked and underbanked. He believes that enriching others is the best way to enrich oneself.