Value of Equity digital deals overtakes branch banking

Equity-centre

Equity Bank headquarters. FILE PHOTO | NMG

The value of transactions on Equity Bank’s digital platform in the nine months to September surpassed those conducted at the physical branches for the first time ever, driven by deepened customer shift to cashless transactions in the wake of Covid-19.

Data by the lender shows that the value of transactions on its digital platforms such as Equitel and EazzyBiz grew by 25 percent or Sh396 billion to Sh1.988 trillion to dwarf in-branch dealings recorded between March and September.

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Note: The results are not exact but very close to the actual.