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Michael Kimani @pesa_africa
, 30 tweets, 7 min read Read on Twitter
Today morning I am at the Finserve Launch - the fintech subsidiary of Equity Group holdings plc

I woke up early for the breakfast, ill stat for the launch
Equity Bank 12.5 million customers says CEO James Mwangi aka "chief"
James mwangi says he doesnt sleep at night worrying about tye next 18 yr old that might disrupt their business

Someone tell him abt the 18 yr olds working on Cryptocurrencies
Says he recalls back in the days when bank customers carried manual paper ledger cards
Says finserve is building infrastructural highway that can be shared

Im guessing this means APIs?
Slide on growth of equity bank between 1994 and 2003 thanks to technology
2013 to 2018 was about changing banking from somewhere you go to something you do
"There is no village in Kenya that doesnt have an Equity Bank Agent"
Equity Bank balance sheet and earnings over time in $USD
How Equity Bank reaches and interacts with customers all the time and anywhere

Mobile devices
Agent networks

Equity Bank is re-engineering the banking model for the African people and value chain by leveraging off technology
Transactions in millions

Via mobile app and stk
Agent network
Internet banking
Equity Bank leveraging off variable cost 3rd party infrastructure
97% of transactions volumes takes place outside the branch
93% of loan volumes take place on the mobile phone
Agency model has radically changed banking

Agent depsoits growing increasingly at a higher rate than Agent withdrawals leading to exponential growth in net cash deposited
Market capitalization of Equity bank versus other banks in Kenya
Jack Ngare leading the Fintech subsidiary

Will be allowed to work independently

Equity banking is responding to fintech by spinning off an subsidiary thats as agile as a fintech startup
Equitel - an MVNO has been operational for the last 4 years
Finserver MD jack ngare emphasizes how they ar leveraging Equitel SIM card
Equitel processing 400m + transaction value daily
When Equitel SIM card launched via Finserve MVNO USSD banking would cost kes 4 per session via telcos

Equitel forced it down to kes 2 across all telcos
Finserve core values

Open minded
Jack says the payment space in East Africa is packed to the rafters
Finserve is launching Jenga API and Jenga Gateway

All inclusive

For everyone banks fintechs startups
Across countries

With a single connection
Equitel and finserve apis give you access to all services

Include we chat and wepay
Finserve rolling out an ecommerce strategy
Im running low on battery ☹️
Jack says these are all the connections you can get from jenga api
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