Banks urged to share ICT platforms

Mr Habil Olaka, Kenya Bakers Association Chief Executive Officer. He has said by sharing share their regional infrastructure, financial institutions would increase banks’ efficiency and expand business opportunities. PHOTO|FILE.   NATION

In Summary
Banks should work on very simple solutions that keep the customer in mind.
60 million EA residents have embraced banking services.


 By Nation Correspondent
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A bankers’ club has urged financial institutions to share their regional infrastructure to boost inter-African trade and take advantage of technology.

Kenya Bankers Association CEO Habil Olaka said the move would increase banks’ efficiency and expand business opportunities.

“It would further enhance Kenya’s share of trade in the Comesa market,” he said.

Equity Bank chief operating officer Julius Kipng’etich said the move would also help banks tap into opportunities presented by intra-country trade through e-commerce and mobile banking.

The two added, should now focus on a multichannel approach to enable customers to access their services without setting up numerous automated teller machines.

“Banks should work on very simple solutions that keep the customer in mind,” Mr Olaka told the Nation.

“There are a number of Kenyan banks who are already taking advantage of the East African market space.”

Mr Olaka said 60 million EA residents have embraced banking services. He added: “This leaves a large number of uncovered regions that should be tapped into.”

Mr Olaka and Mr Kipng’etich spoke as panellists at the seventh Annual Advanced Information Technology (Aitec) banking and mobile money Comesa conference that was held in Nairobi Wednesday.