Kuda offers end-to-end business management, account opening for religious organisations

Kuda has updated its business banking services to allow non-governmental organisations (NGOs) and incorporated trustees to open and manage business accounts entirely online.

As reforms promoting cashless payments and digital financial services take hold in Nigeria, NGOs and religious organisations are under increasing pressure from donors, partners and regulators to operate with greater financial transparency and efficiency.

“NGOs and religious organisations are responsible for managing funds that directly impact communities, yet they are often forced to operate with outdated banking processes,” Nosa Oyegun, SVP business banking at Kuda, stated, adding that the update is proof of Kuda’s focus on removing structural barriers that slow Nigerian organisations down.

According to him, the move means religious organisations, charities, and other registered organisations no longer have to navigate the long wait and paperwork traditionally associated with setting up a business account.

He added that organisations registered with Nigeria’s Corporate Affairs Commission (CAC) can choose the NGO option during signup, submit their CAC documents, and provide trustee details on the Kuda Business app.

Oyegun stated that handling donations, grants, and operational expenses has long been slowed by manual systems and branch-based requirements for many NGOs and religious institutions.

“Once verified, accounts are activated within minutes, a significant reduction from the days or weeks it can take under traditional business banking processes.”

According to him, the Kuda Business update is expected to make financial management faster and more transparent, allowing organisations to focus on their mission instead of battling administrative bottlenecks.

“By enabling incorporated trustees to open Kuda Business accounts entirely online quickly, we’re giving these organisations access to the same modern financial tools built by Kuda that other businesses already use, so they spend less time doing admin work,” Oyegun stated.

He disclosed that with Kuda Business, NGOs and religious organisations can manage incoming donations and grants, make payments, track transactions in real time, generate professional account statements for audits and reporting, and grant controlled access to trustees, treasurers and administrators, all on a single app.

Oyegun stated that Kuda designed the account signup process to meet regulatory requirements while also reducing manual reviews and customer support workload.

According to him, automations help to shorten long business signup timelines while improving information accuracy and user experience.