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With data sharing, assessment of trust is available to all to boost businesses
There is already a growing view that as much as 40 percent of bank deposits could be disintermediated over the next few years if these alternatives continue to scale.
For a long time, Kenya’s economy has been bank-centered. To the general public, the presence of commercial banks in an area indicates that many people in that area are financially active, with bank deposits or loans.
The reason is that trust in transactions has always been outsourced to banks. If you want to store something of value, to pay for something expensive, borrow, or save, you needed a bank branch. The banks' position in assessing risk, pricing it, and intermediating the flow of money has, for a longtime been unrivalled.
