For millions of Kenyans, financial inclusion arrived through a mobile phone. M-PESA changed what was possible. Money could move across cities and villages in seconds. Bills could be paid, businesses could transact, and people previously beyond the reach of conventional banking could participate in the formal financial system.

But after years of building technology in Kenya’s fintech industry, Newton Kipng’eno began to wonder whether access to money was enough. What happens after you give people the ability to transact? How do you give them the opportunity to build wealth?

“If M-PESA helped people transact, what could help them build wealth?” he asked.

That question would follow Newton from the workplace into the classroom at Strathmore University, eventually becoming the foundation of his Master of Science in Computing and Information Systems (MCIS) research. His study explores an ambitious possibility: whether artificial intelligence and the digital footprints people already create through mobile money and telecommunications could open investment opportunities for low-income earners traditionally excluded from such opportunities.

For Newton, it is a question about technology. But it is also about what the next chapter of financial inclusion in Africa could look like.

Newton began his career in insurance technology before moving into telecommunications and fintech, where he grew from software engineer to engineering manager. Working in mobile financial services gave him a front-row seat to one of Kenya’s greatest technology success stories. Yet he also saw that many low-income earners, despite using mobile money every day, remained locked out of investment opportunities because they lacked formal financial histories.

He wanted to explore the next frontier of financial inclusion.

The MCIS programme provided the ideal environment to do just that. Combining academic research with industry relevance, it challenged Newton to think differently about the problems he encountered at work.

“The programme turned me from a practitioner into a practitioner-researcher,” he says. “I now question assumptions, validate ideas with data, and think beyond the systems I’m building.”

His research, titled A Data-Driven Scoring Model for Investment Readiness among Low-Income Earners in Emerging Economies, explored whether alternative data, such as mobile money transactions and mobile phone usage, could help determine whether someone is ready to participate in investment opportunities.

The journey, however, was anything but straightforward.

After identifying his research problem, the real-world data he planned to use became unavailable. Rather than abandoning the project, Newton designed a simulation framework that generated realistic mobile money and telecommunications data, allowing him to continue his research.

“What first felt like a setback became one of the most valuable parts of the study,” he reflects.

The results demonstrated that behavioural indicators, including communication patterns, network diversity, transaction consistency, and financial discipline, can provide meaningful insights into investment readiness. Perhaps the most surprising discovery was how closely human behaviour reflected financial well-being.

“My research showed that human behaviour can be a powerful indicator of financial position,” he says.

The findings reinforced a new way of thinking about information systems—not simply as platforms that process transactions, but as systems capable of revealing meaningful behavioural patterns that can drive more inclusive financial services.

If adopted by financial institutions and mobile money providers, Newton believes similar models could help extend financial inclusion beyond payments, enabling more people to access savings and investment opportunities using the digital footprints they already create every day.

Balancing postgraduate study with a demanding leadership role and a young family required discipline, sacrifice, and a strong support system.

“There were evenings and weekends dedicated entirely to school,” he recalls. “But I didn’t do it alone.”

Family, colleagues, managers, lecturers, and his research supervisor all played a vital role in helping him navigate the journey.

“No one completes a programme like this alone.”

Looking ahead, Newton hopes to continue researching the intersection of artificial intelligence, behavioural analytics, and financial inclusion while working more closely with industry to transform research into practical solutions.

Before pursuing the next challenge, however, he has one priority.

“Enjoy the achievement and put family first.”

For Newton, earning a master’s degree is proof that curiosity, perseverance, and collaboration can transform not only technology, but also the opportunities available to millions of people across emerging economies.

Article written by David Kimathi