Equity Bank Chief Executive, Mr James Mwangi said the launch of Internet banking service would improve service delivery and reduce traffic in the banking halls.
"This launch is a demonstration that our robust IT system delivers a solid banking experience with offline capabilities for our customers to enjoy Internet banking, point-of-sale-enabled deposit taking agents, ATM services and secure mobile banking," he said.
Mwangi added that traffic into banking halls had gone down by over 40 per cent, while over 100 automated teller machines (ATMs) have been installed in the bank's branches countrywide.
Obwocha said the role of small medium and micro enterprises oriented financial service providers was central to the growth of the economy and cited the recent enactment of the Microfinance Act which is expected to bolster the development of the sector.
He said the government was focused on putting in place a legislative and regulatory regime aimed at deepening access to financial services by the majority in order to deliver an all inclusive financial system.
Obwocha praised the bank for discounting its transaction charges on counter withdrawals and bankers' cheque and urged other banking institutions to offer competitive prices to enable more Kenyans to enjoy access to banking services.
Equity Bank recently announced reduction of its counter withdrawal charges from Sh500 to Sh50 and charges only Sh150 for processing of bankers cheques as opposed to the Sh600 charged by other banks.
Source: The East African Standard
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