Friday, February 2, 2007

Equity Bank yesterday unveiled Internet banking service in the local market after a successful trial run in London to tap the purses of over 10,000 Kenyans living in the diaspora.

The service allows customers worldwide to access their accounts for purposes of conducting convenient payments such as monthly salary transfers, remittances, affordable money transfers, foreign currency issuance, among other services.

Yesterday?s launch, which was presided over by Commonwealth Secretary General, Don McKinnon, Planning Minister, Henry Obwocha and Investment Secretary Esther Koimett among other dignitaries was the official unveiling of the service locally after a successful trial period with Kenyans living abroad.

The London launch which took place on December 9 at the Congress Centre, Great Russell netted over 200 account holders and yesterday?s launch means the bank is up to the challenge of efficiently serving the over one million customers locally and many more in the diaspora.

Speaking during the launch Obwocha hailed the development of micro finance institutions in the country noting that they contribution in the country?s economic growth could not be underrated as they pose great potential in empowering majority of the banked Kenyans.

Obwocha said micro-finance are making banking accessible and affordable to majority of people who are normally left out from the mainstream banking institutions.

He said microfinance as part of the financial system allocates resources from households with excess to households with deficits which is one of the most laudable achievement.

The minister said in Africa where there is limited access to financial services by the majority, microfinance has become the hope of building an all inclusive financial system. He added that the role of financial service providers with a bent for small medium and micro enterprises (SMEs) was central to the growth of the economy and sited the recent enactment of the Microfinance Act to bolster the development of the sector.

Continue reading “Equity Bank unveils internet banking services

Source: Kenya Times (link opens in a new window)