In this video, James Mwangi, CEO of Equity Bank, Kenya, talks about the effect of global financial crisis on Equity Bank and Kenya. He explains that Equity has not been directly affected by the global financial meltdown but their shareholders have suffered. In relation to this, he explains the importance of savings. Further he adds that other economic challenges stands to affect Kenya and its people more than the financial crisis such as increased food prices etc. In addition, he says Equity has responded to help clients who have been affected by the crisis.
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Equity Bank Mobile Banking
In this video, Samuel G. Kamiti, General Manager, Alternative Business Channels, Equity Bank, Kenya, shares how Equity Bank has successfully used Mobile Banking to reach clients and how the system is compatible with all kinds of mobile phones and operators. He explains that the system is cost-effective and has helped them to reach places where branches or ATMs could not be set-up. He further adds that recruiting agents for such service still remains a challenge considering the KYC norms of Kenya.
The Drivers And Challenges Of Rapid Growth
In this video, James Mwangi, CEO of Equity Bank, Kenya, discusses the key reasons behind the rapid growth of the bank. James attributes the following behind the success of Equity: the strategy of high volume low margin, business approach as the bank has focused the bottom of the pyramid, product, prices and services based on research. Further, the huge staff of about 4000 employees has been instrumental in the success of the bank and of course the support of the customers has made Equity a successful enterprise. Further, James acknowledges the strong partnership with MSC ever since the inception of Equity Bank and applauds MSC’s toolkits.
Potential for E-/M-Banking Enabled Migrant Remittances
This note examines harnessing technology to optimise the delivery of remittance services – particularly for banks. It assesses the challenges for banks with the growing use of their core banking systems as a vehicle for remittances, and how they might transform these challenges into opportunities through using Banking Correspondents and e-/m-banking. It analyses whether remittance recipients in rural areas have access to, and the ability to use, mobile phones for this purpose.
Exploring Domestic Remittances as a New Line of Business for Indian MFIs
With the growing interest in remittances as an important product for the poor, this note assesses the options for microfinance institutions (MFIs). It looks at the demand for remittances, the structure of a potential remittance product, why and how MFIs might provide remittance services and the risks involved in doing so.
Migrant Remittances – An Untapped Market
There is huge business potential in domestic remittances from migrant labour in cities across India. This note analyses the demand side, analysing the four basic types of migrants and three types of recipients, their livelihoods and their remittance behaviour. It then examines what remitters and recipients look for in a remittance product.