Absa Bank Kenya has launched Absa Next, a neo-banking platform aimed at a new generation of consumers and entrepreneurs, as the lender accelerates its shift toward digital banking and seeks to move beyond traditional banking models.

Absa Next brings everyday banking, savings, investments, credit and lifestyle services into a single digital ecosystem, allowing customers to manage their finances and access financial products through one platform.

“Rather than digitising traditional banking, we have reimagined the banking experience around our customers’ goals, behaviours and aspirations with Absa Next,” Absa Bank Kenya Managing Director and Chief Executive Officer Yusuf Omari said at the launch.

The platform is available to both existing Absa customers and non-customers and is designed to provide a simplified banking experience with banking-grade security.

Customers can save and invest individually or in groups through flexible savings products offering returns of up to 7%, while investment solutions offer returns of as much as 16%, according to the bank.

Absa Next also provides access to instant credit ranging from KSh500 ($3.86) to KSh1 million ($7,722) for personal and business needs. The platform uses alternative credit-scoring capabilities as part of the bank’s efforts to broaden access to credit.

Users can view and manage personal and business finances, link Absa and non-Absa Visa cards, aggregate accounts held with other financial institutions and split expenses with family and friends.

The platform also includes goal-based and gamified savings tools and open-banking capabilities, allowing users to bring financial accounts from different institutions into a single view.

The launch comes as Absa’s existing customer base increasingly shifts to digital channels.

Digital channels accounted for 93.6% of Absa Bank Kenya’s total transaction volumes in 2024, up from 86.5% in 2021. The bank also said 28% of customers were being onboarded through digital channels.

Absa’s Timiza digital banking platform disbursed KSh25.1 billion ($193.8 million) in loans in 2024, up 21% from KSh20.7 billion ($159.8 million) in 2023. Timiza accounted for 8.1% of the bank’s total loan disbursements during the year, while digital savings on the platform increased 67%.

The bank has continued to invest in technology as it expands its digital infrastructure. Absa said it invested KSh3 billion ($23.2 million) in 2024 in core banking modernization, back-office automation and the digitisation of customer journeys, including onboarding and lending.

In 2025, Absa Bank Kenya invested a further KSh1.16 billion ($9 million) in technology, according to the bank’s latest disclosures. Its digitisation level rose from 65% to 71%, while 94% of transactions were conducted through alternative channels. The bank also said artificial intelligence had been embedded across areas including lending, cybersecurity, trade finance and analytics.

“This is more than a digital banking platform. It is the next step for customers as they navigate life’s milestones, the next chapter for Absa as we build for a new generation of consumers,” Omari said.

Sitoyo Lopokoiyit, Absa Group Chief Executive for Personal and Private Banking, said Kenya’s track record in financial innovation made it a natural market to pioneer Absa Next.

“Kenya has consistently demonstrated its ability to develop innovations that solve real customer challenges and influence financial services across the continent. Absa Next builds on that legacy,” Lopokoiyit said.

Absa’s move comes as Kenya’s financial sector becomes increasingly competitive, with commercial banks facing pressure from mobile-money platforms, fintech companies and digital lenders that have changed how consumers make payments, save and access credit.

For Absa, the opportunity is to combine its banking infrastructure with a digital platform that is not limited to traditional account-based banking.

Absa Next is designed to allow customers to access financial services while also managing spending, savings, investments and other lifestyle needs through a single interface.

At group level, Absa said digitally active customers increased from 4.6 million to 5.4 million in 2025, reflecting the group’s wider shift toward digital banking across its African markets. Absa Group also increased IT-related investment by 6% to R16.7 billion ($920 million) in 2025, targeting digital infrastructure, cybersecurity, data and cloud capabilities.

The Kenya launch represents another step in Absa’s broader digital strategy, with the bank seeking to shift more customer relationships from individual banking products toward integrated digital platforms.

Absa Next will compete not only on traditional banking services such as deposits and credit but also on convenience, account aggregation, personalised financial management and access to savings and investment products through a single digital experience.