The strategy behind Equity Bank’s new digital wallet
Equity Bank is responding to the neobanking race with EMMA, a wallet launched by its fintech arm, Finserve. Customers can access it through an app or USSD.
Via TechCabal
Digital banking in East Africa is no longer about moving branch services onto mobile phones. More than 90% of retail transactions at Kenya’s tier-1 lenders now happen outside branches, leaving physical outlets largely as a backstop. Even with KES 2.16 trillion ($16.7 billion) in assets and KES 75.5 billion ($580 million) in annual net earnings, the region’s biggest banks face bigger changes in how customers move and manage money.
Equity Bank is responding with EMMA, a wallet launched by its…
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