This archive report was first published on 30 July 2019.
On July 30, 2019, Equity Bank was named Africa's Best Digital Bank for 2019 at the Euromoney Awards for Excellence held in the UK.
The recognition validates Equity Bank's role in delivering simple, fast, convenient, and affordable banking products and services to customers.
Equity Bank was recognized for its leadership in digital offerings, both in corporate and retail banking, and for using technology to benefit both clients and the efficiency of the institution.
Digitization has seen 93% of loans disbursed by the bank accessed through mobile channels, while 97% of all cash-based transactions happen outside Equity Bank branches, with mobile and agency channels taking the lion's share.
The digitization of the customer journey has eased customer experience, leading to a growth of digital payment transactions by 94% in the last year.
This has also supported the growth of the Bank's customer numbers to 13.7 million and customer deposit growth of 12% to Kshs 428.5 billion, up from Kshs 382.4 billion, thus driving the group balance sheet up by 15% to Kshs 605.7 billion as at March 31, 2019.
These new self-service channels have revolutionized money transfer and payments, giving customers 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.
