Equity and Safaricom Sign Agreement to Ease Finance Access via Tech

Equity and Safaricom have hopes to building more inclusive financial products, simplify cash delivery, explore more regions and share technology. The two companies are geared to having more Kenyans access essential services via the combination of tech and finance.

Through their announcement made on Monday, 29 April 2019, the companies are set to collaborate so to align service delivery, make cash access and come up with a common approach towards fraud and cybersecurity.

“At Safaricom, we are continuously driven to explore new ways to provide our customers with the best possible experience on our network. As we continue on our journey to become a more widely accessible digital platform, symbiotic partnerships like this one will unlock new opportunities for our entire ecosystem to benefit from enriched innovation – all based on a socially conscious business model,” said Bob Collymore, CEO, Safaricom.

The collaboration is set to benefit Kenyans as the companies will identify and deepen financial opportunities for the citizens given that many Kenyans have lacked easy access to finance for decades now.

According to the two companies, they do have a strong belief that with improved technology and innovation, then growth and creation of new opportunities in mobile financial services will be a sure bet.

“Equity’s purpose is to transform lives and livelihoods of our people socially and economically by availing them modern and inclusive financial services that maximize their opportunities. We continuously champion, collaborate and partner to bring this purpose to life. We will harvest, channel and transmit the benefits of the robust macro-economic growth characterized by national infrastructure investments into advantages and opportunities for the ordinary Kenyans especially those in the real economy, agriculture, micro, small and medium businesses and enterprises.

Our ambition is to be the region’s leading bank, and we continuously harness the power of technology to create opportunities to transform how people access and consumer financial services. We strive to respond to our customers’ emerging needs, aspirations and preferences. As demand for these services evolves in tandem with the changing lifestyles, we are positioning ourselves to create new bridges of opportunity for Kenyans by combining the empowering nature of access to credit with the reach and transparency of technology,” said Dr. James Mwangi, CEO, Equity Group Holdings.

The two companies are set to benefit from the planned collaboration as they will be coming up with agreements geared towards maximizing people’s ability to benefit from tech-driven financial services.

Much is expected from the collaboration between the two organizations, skills improvement among staff being key given that there has been an increase in fraud and cyber-security related cases in the country.

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