Equity Bank boss sees death of branches as customers go digital

Equity Bank's CEO Dr James Mwangi (centre) accompanied by the bank's top staff members makes his address during the Unveiling of Equity Bank Customer-led Digital Bank at the Radisson Blue Hotel, Nairobi. Equity Bank plans to retrain its staff into salespersons and relationship managers as customer traffic in branches drops significantly.? (PHOTO: ELVIS OGINA/ STANDARD)

Equity Bank plans to retrain its staff into salespersons and relationship managers as customer traffic in branches drops significantly.

The lender’s latest figures show that just 7.4 per cent of transactions were conducted at branch compared to 63 per cent on Equitel platform and 21 per cent through agents. The bank sees less motivation in brick-and-mortar banking.