How does Zazu work?


Hello! I’m excited for Zazu. Can you explain to me how it works?


@h.musariri, at Zazu, we are a building a bank for Africa’s future. That means we are not a bank just yet. But we are working on becoming one. It’s going to be entirely smartphone based and not have any physical branches.

Zazu is a debit card that comes with a smartphone and USSD app. The app is your financial control centre. Some of the things you will be able to do include opening a bank account in 2 minutes from your phone. If you want to make a deposit, you can do it via your nearest authorised outlet, instead of going to a branch. If you want to pay for any bills, you can do it via the Zazu app or just by opening your phone’s camera. And because we are building a bank of the future, as soon as money goes in or out of your account, you will immediately get push notifications telling you about account activity and your up to date account balance. Imagine an account smart enough to automatically categorise your expenses and give you advice on how you can save more money this month.

We have some more exciting features, but as a summary, this is what Zazu does and how it works.


Thank you for the explaination!


This is really cool.Interested to find out how you will deal KYC, will customers upload these during account opening ? Will there be any verification required, address verification and stuff like that?


Interesting question. So with KYC, there is no reason why traditional banks aren’t already using digital as a means of accepting and verifying. By not accepting digital copies, it just means more and more people aren’t banking.

Our plan is to let users upload their documents. We think this is very quick and it allows people to instantly access banking services.

In terms of address verification, because the initial product is a pre-paid card, the requirements are satisfied easily. Which means more people can have an account easily.


So noting that its kind of minimum KYC obtained,does this mean that there would be a limit to the amount that I can have on the account?


Yes. If you wanted to increase this, you would have to input your telephone number. Zazu app would be able to check against ZICTA’s record and if your sim card was verified and registered by them, we would lift the restrictions on your account minimums. Alternatively, you would upload in the app, proof of your address that the BoZ would accept.


Oh great, thanks. Was actually done but is there a reason a post should be a minimum of 20 characters?:slightly_smiling_face:


Hi Mukuka. The minimum limit is there, as we encourage people to :heart: posts as a thank you, or to keep the conversation going :slight_smile: nice question though. We’ll add it to the FAQ’s!


Ok nice approach. Though dont you think that someone can open an account using someone id. Will there be a way of verifying ones true identity