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Bankit Microfinance Bank is transitioning to WayvePay, introducing a new brand identity and expanded digital banking proposition as it seeks to strengthen its position in Nigeria’s growing digital financial services market.
The transition, which takes effect on September 18, 2026, represents more than a change in name and visual identity. It marks the next phase of the institution’s digital banking strategy, with a focus on technology, security, payments, savings, and financial management for individuals, entrepreneurs, and businesses.
Under its new positioning, “WayvePay — Banking & Beyond,” the platform will build on the foundation established by Bankit while introducing enhanced technology, improved functionality, and additional channels for everyday banking and payments.
WayvePay expands digital banking proposition
According to the bank, the new identity reflects its ambition to develop a broader digital financial platform capable of responding to changing customer expectations as Nigerians increasingly adopt digital banking and payment services.
Speaking on the transition, Head of Corporate Communications and Marketing, Kingsley Ezenwa, said WayvePay represents the institution’s next stage of development.
“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,” Ezenwa stated.
He added that while the institution’s commitment to its existing customers remains unchanged, the new platform is designed to expand what customers can do through its digital financial services.
“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.”
Savings, payments and business banking at the centre
The WayvePay platform will offer a broader range of financial services built around everyday banking needs.
The transition includes savings products aimed at encouraging more consistent saving and helping customers manage their funds more effectively. Customers will also have access to transfers, digital payments, cards, and business banking services through the platform.
WayvePay is simultaneously working to improve the speed and convenience of transactions, with upgrades to transfers, payments, and card usage intended to deliver a smoother customer experience.
The mobile application is also being enhanced with features such as multiple theme options, in-app banners, and notifications, giving customers more ways to interact with the platform and access relevant information.
AI takes a larger role in customer support
Technology is central to WayvePay’s new digital banking proposition, with artificial intelligence being introduced across customer support and security functions.
The platform is deploying AI-powered customer support to provide faster assistance with routine banking enquiries, onboarding difficulties, and common transaction-related issues. Matters requiring additional intervention or involving sensitive issues will be escalated to authorised support personnel.
The move is expected to improve the speed at which customers receive assistance while allowing support teams to focus on more complex cases.
AI-enhanced security to support transaction monitoring
WayvePay is also incorporating AI-enhanced security and intelligent monitoring capabilities into its operations.
The technology is designed to help identify unusual transaction patterns and potentially suspicious activities, complementing existing security controls and enabling authorised teams to respond more efficiently to emerging risks.
The development comes as digital financial services continue to expand in Nigeria, increasing the importance of security, fraud detection, customer protection, and reliable digital infrastructure.
For WayvePay, combining stronger security capabilities with a more seamless customer experience forms part of its broader approach to digital banking.
WayvePay targets the next phase of Nigeria’s digital finance growth
As digital payments and mobile banking become increasingly embedded in the financial activities of consumers and businesses, WayvePay plans to continue investing in artificial intelligence, payment infrastructure, financial security, customer experience, and new financial products.
Its “Banking & Beyond” positioning reflects an approach that extends beyond the traditional functions of holding and transferring money. The platform aims to support customers with saving, payments, transfers, and broader day-to-day financial management through digital channels.
The transition from Bankit to WayvePay officially takes effect on September 18, 2026. While customers will encounter a new name, identity, and digital experience, the institution says the new platform remains built on the foundation established by Bankit.
With expanded savings options, faster transactions, enhanced security, AI-powered support, and multiple access channels, WayvePay is entering its next phase with a focus on strengthening its digital banking proposition and expanding its role in Nigeria’s evolving financial services ecosystem.
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