“Can a full-stack Nigerian neobank serve both personal and SMB customers in one app, including in offline/rural contexts via USSD?”
WayaBank is a Nigerian digital bank operated by Waya Multilink Technology Ltd, headquartered in Lekki, Lagos. It positions itself as a full-stack neobank for both personal and business customers, offering accounts, transfers, bill payments, USSD banking, ATM cards, POS/agency services, and loans. It is part of the WayaLinks group alongside WayaGram (social) and WayaQuick (payments/POS).
Waya Bank discloses Waya Multilink Technology Ltd (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Waya Bank does not disclose a bank charter of its own; its banking services are provided through Waya Multilink Technology Ltd (in-house).
Waya Bank processes payments through WayaQuick (self-operated).
Waya Bank's lending and capital products are provided by WayaBank Loans (in-house).
The Embedded Finance Index 2026 maps 3 layers in Waya Bank's stack: Payments / PSP (WayaQuick (self-operated)); Banking / BaaS (Waya Multilink Technology Ltd (in-house)); Lending (WayaBank Loans (in-house), SME business loans and Personal fast loans).
Waya Bank is founded in 2019 and headquartered in Lekki, Lagos, Nigeria.
Get a read on where your own stack stands against Waya Bank and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.