#finserve

As technology breaks all kinds of boundaries across the world, industries and markets come closer than ever before. In the last five years alone, systems have become more efficient, communication has gone to another level and transactions have attained a maturity that was not to be seen before. Among the many crossovers that have made the day-to-day aspects in the lives of both business and consumer easier, is that of finance and technology. Each has met the other half and the result is fintech.

 This is a space where certain nations have already been performing really well and by and by, more are joining to enjoy the effects. While the UK, US and China have attained a sort of notoriety for the deals they have struck in the fintech space, other nations cumulatively are now contributing to almost 39% of the deals (according to a CBInsights Research Report). According to the same report, 1700 fintech deals were struck in 2018, amounting to $40 billion.

 As can be expected, this trend has had a butterfly effect and has been positively impacting other nations as well. Kenya, for example, which is an integral part of the sub-Saharan fintech. According to a Bloomberg report, the fintech industry will have a massive impact on the sub-Saharan economic output, which is estimated to rise from $40 billion to $150 billion by 2022. Even from the reference of keyboard apps, a technological enhancement that bypasses glitches created by a phone's stock keyboard, Kenya has been doing really well. Finserve Kenya launched mKey, which happens to be the nation's first keyboard app in 2018, and it's absolutely fundamental that you know the following features of mKey:

 - mKey allows businesses to borrow money up to KSH 1, 000, 000.

- The interest rate on those loans typically ranges between 1% and 9%.

- Just as one can borrow, mKey also enables the process of sending money to people on their mobile phones.

- There are multiple add-on financial services such as the payment of bills and buying goods and services through M-Pesa.

- mKey also comes with an evolved group account management system, so that money transfers and bill splits within a particular group becomes easy.

- Among several keyboard apps, mKey perhaps is the only one that works on a reward-based system. So, the more you use the app, the more reward you get.