Kenya: Equity Bank partners with Airtel to offer m-banking service
Equity Bank and Airtel have entered a partnership to launch a mobile banking solution in Kenya, it has been announced on Tuesday.Equity Bank and Airtel have entered a partnership to launch a mobile banking solution in Kenya, it has been announced on Tuesday.
All 8.4 million Equity Bank account holders in Kenya can now use Airtel Money while Equity Bank outlets and agents can now act as Airtel Money agents.
"We are pleased to enter into this agreement with Airtel, which will further strengthen our commitment to extending financial inclusion across East Africa by enabling the unbanked and under-banked to enjoy the benefits of mobile payments, while also giving us the opportunity to better serve Airtel customers," said Equity Bank CEO James Mwangi in a press release.
He added the partnership provides clients of both firms with the safety and benefit of bank accounts, such as deposit protection, with the convenience of mobile money.
Services available to users include utility bills payment, money transfer, bank transaction alerts, account balance notifications and mini statements.
This partnership is expected to extend to more countries where Equity and Airtel are present, such as Uganda, Tanzania and Rwanda.