Kenya’s fastest growing bank adds Mandarin language to its banking app to woo wealthy Chinese expatriates
The move will consolidate the Bank’s effort to tap into the growing Sino-Kenya trade which has been steadily growing in recent years.
Equity bank has rolled out a tailored made service on its online banking app EazzyBanking in Mandarin language to make banking easier for the Chinese community in Kenya.
“The upgraded app is aimed at furthering convenience to these retail customers,” Equity Bank said in a statement.
The Bank set up a Chinese desk at its branches in 2012, and the latest charm offensive is aimed at tapping into the growing use of online and mobile banking in the country.
According to World Bank, there were about 400 Chinese companies operating in Kenya as of 2016 with the largest number invested in manufacturing.
Over the last decade, China has grown to become Kenya's second largest trade partner, and currently holds more than half of Kenya's external debt.
As such, China has become the largest source of Foreign Direct Investment (FDI) to Kenya.
Equity, like most banks, has been leveraging on mobile banking for growth as customer preferences shift.
The EazzyBanking App, Equitel and other digital banking platforms continued to increase contribution to Equity’s non-funded income, with 96 percent of all banking transactions happening outside of bank branches.
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