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Access Bank bets on tech

FINANCIAL STANDARD
By Correspondent | November 3rd 2020

Access Bank is betting on technology after its entry into the Kenyan market.

The Nigerian lender, which is rebranding Transnational Bank outlets to Access Bank Kenya following Sh1.4 billion buyout, said it would leverage its robust technology platform to provide cutting-edge financial solutions to Kenyans.

Group Managing Director Access Bank PLC Herbert Wigwe said Kenya is a leader in financial technology and financial inclusion, which is in line with the bank’s vision. 

“We are committed to supporting the growth and development of our host community in line with our sustainability ethos. We will build on our legacy and expertise in the financial services industry to optimise growth in all business segments, whilst delivering value to stakeholders,” said Mr Wigwe.

Access Bank Group has over 41,000 banking agents and believes that it can leverage its expertise in agent banking solutions to bank the unbanked and under-banked.

In recent years, Kenya has recorded year-on-year GDP growth, and it leads the East African sub-region in the usage of mobile money payment systems.

The Digital Financial Services market is rapidly developing with the help of financial and non-financial institutions, as well as informal financial groups.

“With nearly two-thirds of the country being rural, a more aggressive financial technology and financial inclusion drive will further improve lives,” said Wigwe.

“Access Bank Kenya is excited about the potential that exists in this market, and the opportunity it has to take the lead in unlocking this potential.”

Access Bank operates through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and over 40 million customers.

The bank employs 28,000 people across all its operations in Nigeria, Sub-Saharan Africa, and the United Kingdom, with representative offices in China, Lebanon, India and the United Arab Emirates. 

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