mKey had Misses at Launch but App is Evolving Fast


#1

It’s been a week since Finserve, Equity Bank’s fintech subsidiary launched mKey, a social app for mobile banking that believes it’s agnostic and will embrace all platforms.

As expected with an app that changes how we do thing, there was loads of reactions, and for this app, a lot of them were negative. Starting with the insistence of app function with their keyboard, which is way behind current keyboard apps as far as functionality and UX is concerned. Support of several types of smartphones was also a mess as well as the app being too busy, trying to do so many things at once.

I have kept the app installed and have been trying using it once in a while, and here’s my report.

  • It wasn’t working with my smartphone and now it is (sign up process, it would close when I entered my phone number at first step, that was fixed, then it would stop when I tried to fill up my profile and request for authentication SMS, that too was fixed).

  • It nolonger forces one to use the mKey keyboard, which I believe is good progress, that way they can work on it without pressure and bring it up to standards.

Still as rigid as mother company as far as loan qualification is concerned.

  • Your loan qualification starts at zero, even with all the information available to the app, after accessing the permissions it requests (SMS, contacts, location, storage, telephone, camera). Good thing though is that the app will still function if you deny it these permissions, unlike what Pesapap app demanded at launch, not sure they corrected that but I discussed it with them.

Any further update I will add onto this list. Also, I will make this a Wiki, so if anyone has anything to add they can.


#2

Interestingly, my loan limit started at Kes.300. A yey for me? But nothing beats Timiza that gave me a loan limit of Kes.12,000 at first application.