PesaLink, as integrated by NCBA Bank, has made notable progress in offering Kenyans a faster and cheaper alternative to traditional interbank transfers. Its ability to send up to KES 999,999 instantly, around the clock, is a valuable step toward modernizing money movement. However, beneath this innovation lie several gaps that present fertile ground for fintech players seeking to build more inclusive, seamless, and scalable financial solutions.

One key limitation is that PesaLink remains confined to participating banks. Customers outside this ecosystem, including those banking with smaller SACCOs or microfinance institutions, are excluded. This leaves out a significant population that relies on non-traditional financial institutions. Fintechs can address this gap by creating interoperable platforms that connect banks, SACCOs, wallets, and other digital finance ecosystems, making real-time transfers possible across all financial tiers.

Another bottleneck is the transaction ceiling of KES 999,999. While suitable for most individual and small business transfers, large enterprises, importers, and wholesale traders often deal with higher-value payments. Fintechs can differentiate themselves by offering secure, higher-limit transaction rails, potentially leveraging blockchain technology or digital escrow systems, to enable large-scale transfers in real time, including cross-border settlements.

The dependency on the NCBA Now App is another restriction. A customer must bank with NCBA to enjoy PesaLink through their mobile platform, meaning users need multiple banking apps if they maintain accounts across several banks. Fintechs can innovate by designing multi-bank aggregator platforms or super apps, where clients can access PesaLink services from different banks in one interface. This single-access model would eliminate friction and enhance customer convenience.

Cost transparency also remains a challenge. While NCBA highlights reduced transfer fees, there is little clarity on how much cheaper PesaLink is compared to alternatives such as M-Pesa or RTGS. This uncertainty can deter price-sensitive customers. Fintechs can take advantage of this by introducing radical transparency models, clearly displaying transaction costs upfront or even offering subscription-based bundles that allow frequent users, such as SMEs, to manage costs more predictably.

Geographical limitations also present a wide opening. PesaLink is designed primarily for domestic transfers within Kenya, yet the demand for cross-border payments is high, especially in a region driven by trade and diaspora remittances. Fintech companies can layer cross-border functionality onto local transfer systems, linking Kenyan rails with mobile money networks or affordable forex solutions. By doing so, they could solve the pain points of high remittance fees and slow settlement times that plague many regional and global transfer channels.

Customer education and trust form another overlooked area. Despite its speed and affordability, PesaLink has not achieved the same mass adoption as mobile money solutions because many customers perceive it as complicated or risky. Fintech startups that prioritize user experience and embed education into their platforms can overcome this barrier. Simplified design, intuitive workflows, and proactive communication on security measures can go a long way in building trust and driving adoption.

Lastly, the service does not adequately address the needs of small and medium-sized enterprises (SMEs). These businesses often require bulk payment solutions for payroll, supplier settlements, or contractor payouts. NCBA’s current model appears geared toward single transfers, leaving SMEs underserved. Fintechs can step into this space by offering bulk-payment APIs or dashboards that enable hundreds of payments to be processed in a single click, saving businesses time and money compared to RTGS or EFT methods.

In conclusion, while NCBA’s PesaLink integration is a step forward for digital banking in Kenya, it does not close the entire gap in financial accessibility, affordability, and functionality. Fintech innovators have a unique opportunity to build on these foundations by expanding interoperability, raising transaction ceilings, providing cross-border solutions, ensuring transparent pricing, educating customers, and targeting SMEs with specialized services. Those who address these shortcomings stand to not only capture market share but also redefine the future of digital finance in Kenya and beyond.