How To Develop An App Like Kuda: A Complete Guide

Nowadays, people are spending more time on their mobile phones, and banking has followed them there. Today, over 72% of people leverage digital banking mobile apps regularly. This shows a huge surge in easy-to-use financial mobile applications.

One such app that gained popularity in Africa is Kuda, which has become popular because it focuses on the problems people actually face. Thus, if you want to offer something similar, it’s not enough to copy features.

You need to understand what users value most. By paying attention to these needs, you can develop an app like Kuda that genuinely makes people’s lives easier. The idea is to give people control over their money in a way that feels natural, fast, and reliable, while keeping the experience safe.

Thus, in this blog, we will discuss the process to create a digital banking app like Kuda, along with the core features and how much budget is required for the app.

What is a Kuda App?

Kuda is a mobile banking app for Africans that allows them to manage all their banking requirements from their mobile. It is sometimes referred to as a neobank because it does not have a physical branch. Users can use services like transferring money, investing, paying bills, etc, from a mobile phone.

Kuda was founded in 2019 in Nigeria, and since then, it has become one of Africa’s famous money apps. Let’s now take a look at the working mechanism of a Kuda app.

• Users can create a free account from their mobile in minutes.
• Now users can fund their account by transferring money from another bank’s application.
• Once their account is successfully funded, they can avail multiple online banking services.
• Users can also request a physical visa card, which is also called a Kuda card, from the app and get it delivered.

Why Digital-Only Banks Are Dominating the Market?

The global evolution of instant payments is happening really fast. For instance, neobanking mobile applications saw a 40% rise in downloads in 2023 that reached 1.2 billion downloads on a global basis.

If we look at the particular region, Nigeria alone has licensed mobile money operators that processed transactions with ₦71.5 trillion in 2024. The global market size of digital-only banks is forecasted to reach $2.05 trillion by 2030.

What all these mobile banking app statistics mean for your business is that customers are already comfortable using banking and payment apps. This friction is lower than before. Additionally, there is really less need to convince customers to adopt digital.

You only need to stand out with features, trust, and user experience. The infrastructure, regulatory frameworks, and mobile access are increasingly favorable.

Why Launching a Kuda-Like App is a Smart Investment in 2025?

Let’s be honest. People do not want to stand in bank lines for depositing or withdrawing their money. They want quick banking services that are easily available on their mobile phones. That’s why payment apps like Kuda are gaining millions of hearts, and why, for you, now is the perfect time to develop something similar.

► Banking has Changed Totally

More than 70% of Africans now prefer using mobile applications for their daily payments. It is just a digital banking trend. It is a drastic shift in their behavior. People trust digital banking more because it saves them time and provides them with full control over their money.

► Fintech Market is Growing Fast

In 2025, mobile banking transactions are forecasted to reach $6 trillion worldwide. That means this is a huge opportunity for startups that can bring new ideas and customer experience. You should develop a platform that solves real user issues.

► Investors Love Fintech Right Now

Do you know that even in global slowdowns, fintech startups continue to attract funding because investors see long-term benefits. A beautifully created app like Kuda is not just a product. It is a business that can boost and generate huge profits consistently.

Therefore, if you are planning to develop an app like Kuda in 2025, it is a smart and future-ready move for your business and not a risk.

Step-By-Step Process to Develop an App Like Kuda

This in-depth roadmap for developing a mobile payment app like Kuda will guide you to understand the whole development process.

So, let’s take a look at the steps below to build an app like Kuda :

♦ Study the Market and Target Audience

First of all, study who will use your dream mobile banking app. Just find out what problems people usually face with banks and what features they love in apps like Kuda.

Additionally, you can talk to your potential audience, research competitors, and list the most needed banking services. This will assist you in developing an app like Kuda that your audience wants to use every day.

♦ Plan Out Key Features

After conducting thorough market research and understanding potential audiences, it is time to plan out the mobile banking app features. Just decide what your digital-only bank app must do first.

You can add the MVP features first. But make sure you do not add all the features at the start. It will cost you a lot. A clear feature list keeps the development focused and makes sure your app is simple and gives the best user experience from day one.

♦ Ensure Legal Compliance

Digital payment apps like Kuda follow strict rules and regulations. So, do not forget to go through fintech laws and regulations thoroughly. You can also collaborate with a licensed bank or any financial provider to manage money legally.

Also, do not forget to set up KYC and anti-fraud measures. Just make sure your digital banking app follows local laws and international security standards. If you skip compliance, it can cost money, users, and credibility. So it is vital to plan it carefully before the launch.

♦ Create a UI/UX Design

Your potential audience only attracts your app if it is easy to understand. So, you should design a simple user interface with very clear menus, buttons, and looks. Just focus on mobile-first design since most users will be on mobile phones.

You have to make your fintech app design very intuitive and visually appealing so users who do not have a tech background can easily transfer money, pay bills, or check balances.

♦ Develop the Kuda-Like App

You have successfully designed the app’s front-end. Now, it is time to develop an app like Kuda itself. You can connect the backend with the interface, implement the core features, and test each feature carefully.

Just make sure money transfers, bill payments, and push notifications work smoothly. You can begin with an MVP version, then modify based on user feedback. The goal is to have a properly working and secure digital banking app that users can fully trust.

♦ Test Everything Rigorously

Test your payment app, like Kuda, thoroughly. You can start by checking bugs, security leaks, slow loading, and crashes. You can also test it with a small group of your target audience and gather their reviews.

Mobile app testing makes sure your payment mobile app is reliable, which is crucial for banking. Just fix all the issues before the final launch, as a smooth, trustworthy experience builds confidence and prevents negative reviews or financial errors.

♦ Launch and Update the App

Once your digital banking app is ready, you can release it on the desired platforms. Developing an app is not enough. You have to promote it on social media and other marketing channels.

Lastly, you should track how users interact with your payment app, what features they really love, and where they face issues. You can also timely update your app, fix bugs, and add new features. If you continuously improve your app, it will help in keeping users happy and boost growth.

Features That Make Your Digital Banking App Like Kuda Stand Out

When you create an app like Kuda, you should integrate features that make banking really easy and hassle-free for your target audience.

Below are the features that you can take into consideration :

➤ Instant Account Opening

Users can easily open an instant account in minutes by using their phone number, ID, and BVN or bank verification number from the app.

➤ Free Transfers

The app like Kuda, will enable users to send and receive money instantly. Transfers between users will be free. You should provide a few free transfers to other banks every month to attract more users.

➤ Automatic Savings Options

You can add a smart saving feature that helps users save money automatically. For example, the app can save a small amount each time they spend or allow them to set personal saving goals with interest rewards.

➤ Virtual and Physical Debit Cards

Users can get both virtual and physical cards for everyday payments. They can request, activate, block, or replace their cards from inside the app.

➤ Bill Payments and Airtime Purchase

Your app, like Kuda, allows users to pay electricity, water, and any type of bills or buy airtime directly. Everything should be done in seconds without switching between multiple apps.

➤ Real-Time Transaction Alerts

Every time a user spends or receives money, the Kuda-like app will send an instant notification. This helps users stay updated on their account activities and track spending.

➤ Spending Tracker and Budget Insights

When you develop an app like Kuda will include spending summaries that show where users’ money goes. Simple charts and insights will help them manage their budget and plan their expenses better.

➤ Expense Categories

The mobile payment app automatically groups the spending into categories so users can easily see where their money goes.

➤ Advanced Security

You can use bank-level encryption, transaction PINs, biometric authentication, and two-factor authentication to keep the account secure.

➤ 24/7 In-App Support

Users should never feel stuck. You can integrate a live chat support system so they can talk to a support agent anytime inside the app.

5 Most Popular Mobile Payment Apps Like Kuda

For developing an app like Kuda, you have to go through the competitor apps.

So, we have listed down the top mobile banking apps like Kuda below :

How Much Does it Cost to Build an App like Kuda?

The cost to develop an app like Kuda can be a bit more because it is a digital banking app that requires safety and security. On average, the cost to build a mobile banking app like Kuda can be anywhere from $25,000 to $160,000 or more. This really depends on how big you want to make it.

This Kuda app development cost covers everything from designing the app to launching it. If you start small with only the core features, it will cost less. Later, as more people start using your digital banking app, you can keep updating and adding new features.

In simple terms, the more complete and advanced you want your mobile payment app to be, the more it will cost. So, it is advisable to begin with something small and improve over time, which is a budget-friendly way to go.

How to Monetize Your Payment App Like Kuda?

After knowing how much budget is required to develop an app like Kuda, it is also essential to know the different monetization models so that you can earn a better ROI.

Let’s have a look at revenue streams below :

♦ Charge Small Fees for Transactions

You can monetize your mobile payment app like Kuda by charging a small fee when users send or receive money. This is called a commission-based monetization model. Even small fees from huge users can add up over time. This helps your mobile banking app earn a huge profit.

♦ Offer Premium Services

The next way of app monetization is by providing extra features for a small monthly fee, like faster transfers, special cards, or budgeting tools. Users who want convenience or perks will pay. This creates another income stream for your app like Kuda.

♦ Partner with Businesses

Lastly, you can work with stores or online services to allow users to pay through your payment application. You can earn a small commission from every payment, while businesses get more customers using your mobile app.

Why Choose Nimble AppGenie to Create an App Like Kuda?

Looking for a trusted mobile banking app development partner to develop an app like Kuda? Nimble AppGenie is the right choice for you. With 8+ years of experience in delivering high-performing, secure, and scalable banking solutions, we turn your innovative ideas into fully functional digital products.

We provide end-to-end mobile app development services that will take your business from ideation to final launch. Our expert developers and fintech specialists leverage cutting-edge technologies like AI, ML to create top-notch digital banking solutions.

With Nimble AppGenie, you will get custom digital-only banking apps with robust security features that ensure data protection and compliance. Get in touch with us right away for your dream project.

Conclusion

Every big app starts with a small idea, just like Kuda once did. The goal isn’t only to build a digital bank but to solve everyday problems people face with money. When you focus on making banking simple, secure, and friendly, users naturally connect with your product.

Thus, start small, test your ideas, and keep improving based on real feedback. Your vision can grow into something meaningful, not complicated. That’s where real success begins.

FAQs

Niketan Sharma

Niketan Sharma, CTO, Nimble AppGenie, is a tech enthusiast with more than a decade of experience in delivering high-value solutions that allow a brand to penetrate the market easily. With a strong hold on mobile app development, he is actively working to help businesses identify the potential of digital transformation by sharing insightful statistics, guides & blogs.