Bankit Microfinance Bank has transited to WayvePay, marking a new chapter in its ambition to build a smarter, faster, more secure and accessible digital banking and payments platform for Nigerians.

A statement yesterday by the Head, Corporate Communications and Marketing, Kingsley Ezenwa, said the transition was beyond a change of name and visual identity.

He said that the transition represented the evolution of the bank’s digital banking proposition and its ambition to provide innovative financial services that met the changing needs of individuals, entrepreneurs and businesses in Nigeria’s growing digital economy.

Ezenwa explained that the new platform built on the foundation established by Bankit while introducing enhanced technology, improved functionality and additional channels for everyday banking, payments, savings and money management.

Ezenwa, said the new identity further reflected the bank’s ambition to create a more comprehensive digital financial platform.

He said: “WayvePay is more than a new name. It represents the next stage of our evolution and what we believe digital banking should offer customers going forward. We are building on the foundation established by Bankit while introducing smarter technology, improved functionality, enhanced security and a more seamless banking and payments experience.

“Our commitment to our customers remains the same, but our ambition is bigger. With WayvePay, we are creating a platform that goes beyond traditional banking to help individuals and businesses save smarter, move money faster, make payments more conveniently and manage their financial lives with greater confidence.”

At the heart of the WayvePay experience is a broader range of financial services designed around the everyday needs of Nigerians, he said.

The change, Ezenwa emphasised came with attractive savings options designed to encourage customers to save more consistently and make their money work harder, alongside convenient transfers, digital payments, cards and business banking services.

Technology and security remain central to the WayvePay proposition.

The bank is introducing AI-powered customer support to provide faster assistance with common banking enquiries, onboarding challenges and routine transaction issues, with more complex or sensitive matters escalated to authorised support personnel.

WayvePay is also deploying AI-enhanced security and intelligent monitoring capabilities designed to identify unusual transaction patterns and potentially suspicious activities, complementing existing security processes and helping authorised teams respond more efficiently to potential risks.

These developments are part of the platform’s broader commitment to delivering secure digital banking while improving customer experience.

WayvePay is also expanding access to banking services beyond the mobile application through its dedicated USSD banking channel.

The USSD service provides customers with an additional way to access essential banking services without relying entirely on an internet connection or smartphone application.

The channel is designed to support financial inclusion by serving customers with limited internet connectivity, restricted mobile data or a preference for USSD banking, making digital financial services accessible across different customer segments and locations.