Name of admitted firm

Date of admission

Innovation tested

Test outcome

Exited Firms

1.       Innova

July 15, 2019

Analytics software solution that automatically spool data from market participants enabling various analytical functions for the benefit of clients and regulators.

Test successful, now in the mass market.

Some of the features of the innovation that were successfully tested include automatic generation of reports from licensees and remote access of the reports by regulators. Analytical models and regulatory reporting tools developed and now in use.

2.      Pezesha

July 16, 2019

Internet-based crowdfunding platform on which investors provide loan facilities structured as loan notes to SMEs

Successful, now in the mass market.

3.       Genghis

July 16, 2019

Mobile platform for the public to invest in unit trusts funds through Safaricom Mpesa.

Successful, with challenges on mass roll-out of the product.

The funds collected through onboarding clients on to the platform amounted to Kshs. 1.3 billion while exits were Kshs. 1.1 billion. Current Assets Under Management is therefore Kshs. 200 million.

4.      CDSC

April 7, 2020

Screen-based securities lending and borrowing platform

Successful, awaiting approval of SLB rules. The screen-based system of SLB was successfully tested

5.       Fourfront Management

Sept 2, 2020  

Robo-advisory solution that seeks to provide automated, algorithm-driven financial planning services with little to no human intervention.

Successful, under consideration for exit

ONGOING TESTING

6.       Pyypl

June 11, 2020

Blockchain-based platform for issuing unsecured debentures

Test ongoing. Key milestones are-

Capital requests: 242

Investments made: 228

Value of investments: Kshs 254,761

Successful debentures: 145

Average fees: 10%

7.       Belrium

June 11, 2020

Blockchain-based know your customer (KYC) solution.

No progress.

8.      Moneto

May 26, 2021

Investments application aimed at aggregating and connecting retail investors to collective investment schemes (CIS) through an App.

Test ongoing. Key outcomes are-

Total funds deposited Kshs 4.3M

No. of deposits: 3,750

Funds withdrawn: Kshs 2.3M

No. of withdrawals: 325

No. of users: 1,488

 

9.      Koa

May 26, 2021

Investments application aimed at aggregating and connecting retail investors to CISs through an App.

Ongoing

10.   Sycamore

July 9, 2021

A fully digital online investment application aimed at enabling Kenyans invest in multiple unit trusts by aggregating retail investors to collectively invest in approved CISs.

Acquired a new partner (ICEA Lion) and are still in the progress of integration.

11.   Acorn

Aug 20, 2021

Investment aggregation platform (Vuka) to facilitate retail investment in the Acorn I-REIT through a regulated and transparent structure.

Ongoing with good progress.

12.   Waanzilishi

Dec 17, 2021

Robo-advisory solution with an element of discretionary portfolio management which will provide automated, algorithm-driven financial planning services with little to no human intervention.

Ongoing. During the test, the innovation will seek to provide a portfolio management which will set out automated, algorithm-driven financial planning services with little to no human intervention.

 



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