">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Saturday, January 16, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

Equitel processed Ksh 250.8 billion in transactions in the third quarter of 2016

Milcah Lukhanyu by Milcah Lukhanyu
4 years ago
in Business
4 min read
0

Equitel more than doubled the number of transactions the mobile platform processed in the third quarter of 2016 when compared with a similar period a year before.

Equitel processed 150.8 million transactions in the third quarter of 2016 up from 62.2 million a year earlier, representing a 142 per cent increase.

The value of transactions over the same period increased by 476 per cent to stand at Ksh250.8 billion up from Ksh43.6 billion.

“The Bank’s early and continuing investment in technology as well as its committed progressive transitioning from the traditional heavy fixed cost based brick and mortar operation to an increasingly digital driven variable cost based model aligns perfectly with the observed changing preferences by banking sector customers,” said Equity in a statement.

The success of the one year pilot of digital Equitel mobile banking was crowned by a launch of full scale digitization of the bank through online, internet based, open interoperable mobile banking channels with downloadable applications including cash and liquidity management products for corporate and SMEs.

The launch facilitates access of the banking capability by the Bank’s customers through the release of a series of 10 Eazzy banking solutions and tools.  New Fintech driven Diaspora remittances channels, PayPal and Equity Direct grew their contribution to remittance processing from 22% to 30% of all Diaspora remittances processed, again demonstrating the repositioning of the bank’s offerings through innovative products and channels.

The launch of full scale digitization is likely to fully transform Equity Bank during the year making it more of a Fintech with convergence capability of a bank focusing on building the liability side while Equitel mobile channel combined with the Fintech analytics capability and big data computing helping build the asset side.

READ  How to Claim Income Tax Refund

Related posts

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0

UAP Old Mutual launches digital last expense cover for as low as Ksh 50

January 13, 2021
0

How to Use Podcasts and Online Information to Enhance Ventures

January 6, 2021
0

This new capability brought about by digitization will increase the bank’s transaction income as more people embrace the power of the new digital tools’ ability to support modern lifestyle demands by enabling them to do banking and more payment transactions through their devices. The bank will achieve disruptive capability with immense flexibility and adaptability.

Readers 1,652

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: Businessequity bank
Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Business

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
Business

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0
Business

UAP Old Mutual launches digital last expense cover for as low as Ksh 50

January 13, 2021
0
Business

How to Use Podcasts and Online Information to Enhance Ventures

January 6, 2021
0
Business

Equity Group crosses the trillion-shilling balance sheet milestone

December 23, 2020
0
Business

Econet Group’s Strive Masiyiwa Appointed to Netflix Board of Directors

December 17, 2020
0
Business

Is Kenya Becoming a Retail Deathplace?

December 15, 2020
0
Business

Australian Buy now, pay later provider Openpay launches in the US

December 15, 2020
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Baidu establishes an Intelligent electric vehicle arm to bring autonomous cars on a road near you

January 15, 2021

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021

How we can all contribute to the Green revolution 

January 15, 2021

How to fuliza by Safaricom guide

January 15, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: