AWARDS

Equity shines as best digital bank at global banking awards

In Summary

•This validates the lender's role in delivering simple, fast, convenient and affordable banking products and services to customers.

Equity town hall branch.PHOTO/CHARLES MUGA.
Equity town hall branch.PHOTO/CHARLES MUGA.

Equity Bank was named Africa’s Best Digital Bank for 2019 at the Euromoney Awards for Excellence.

This validates the lender's role in delivering simple, fast, convenient and affordable banking products and services to customers.

Equity was recognised for being a bank that shows true leadership in its digital offerings and uses technology to benefit both clients and the efficiency of the institution, placing digital at the heart of its business.

Digitisation has seen 93 per cent of loans disbursed by the bank, being accessed through the mobile channels, while 97 per cent of all cash-based transactions are happening outside Equity Bank branches.

This has eased customer experience leading to growth of digital payment transactions by 94 per cent in 2018.

It has also supported growth of the bank’s customer numbers to 13.7 million and customer deposit growth of 12 per cent to Sh428.5 billion, up from Sh382.4 billion, thus driving the group balance sheet up by 15 per cent to Kshs 605.7 billion in the first quarter of 2019.

These new self-service channels that enable customers to do banking on their own devices has revolutionized money transfer and payments with customers having greater control and freedom to manage their bank accounts.

Established in 1992, the Euromoney Awards for Excellence were the first of their kind in the global banking industry.