Satisfaction at Vision 2030 project
20 March 2014, 13:55
Nairobi - Increased urbanization and a growing middle class in Kenya has propelled the Vision 2030 forward and increased financial inclusion in the country.
This is according to a survey done by Ernst & Young, which also stated that banks were facing stiff competition from technology and telecommunications companies as they were providing customers with an array of banking options.
Although this provides for better and deeper financial inclusion in tandem with vision 2030, banks are left to struggle to look for customers.
Steve Osei-Mensah, an Advisory Leader at Ernst & Young, said that customers were increasingly questioning what it was they were being charged for and why they should pay for a service especially in the transmission of money in Kenya.
“If it is this easy, then why do the traditional banks find it hard to transmit money?” he quipped.
According to the Ernst and Young report, 86 percent of Kenyans would like to have access to bank financial experts addressing their concerns.
This has challenged banks to improve efficiency in problem resolution with more than 50 percent of customers having encountered a problem in the past year.
Last month, Kenya was ranked as the country with the most popular mobile payments in Africa according to a research done by PEW Research Centre.
– CAJ News
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