Kenyan fintech startup WapiPay has launched a credit scoring product designed to help banks and savings cooperatives factor diaspora remittances into lending decisions, as the country records rising inflows from citizens abroad.
The company, founded in 2019 by brothers Eddie and Paul Ndichu, began as a cross border payments and foreign exchange provider linking Africa and Asia. It is now introducing its Remittance Credit Scorecard to financial institutions through a single API integration. The tool analyses transaction patterns and converts remittance histories into a credit rating that lenders can embed in their loan systems.
Kenya received more than $5 billion in remittances in 2025, according to official data, making it one of the country’s largest sources of foreign exchange. However, much of that income has traditionally been excluded from formal credit assessments. The United Nations Conference on Trade and Development estimates that about 80 percent of remittance inflows go toward immediate household needs, while roughly 20 percent supports savings or investment.
WapiPay said its model focuses on positive financial behaviour, including consistency and stability of transfers, rather than relying mainly on defaults or missed payments. The company believes this approach could expand credit access to households that depend on regular support from relatives abroad.
Kenyan lenders continue to face elevated default risks linked to income volatility and informal employment. In that context, remittance backed scoring offers an alternative data layer that could strengthen risk assessment while supporting financial inclusion.
The move reflects a broader trend among African fintech firms seeking to turn cross border payment data into tools for domestic credit growth.