Mobile Money –Banking report now confirms that Kenyans are utilizing online banking more than on-counter-services.
According to scientific findings by the Kenya Bankers Association (KBA), 69.9 percent of the country has moved to mobile banking for their business as well as domestic money activities.
In its Tuesday March 5 Customer Satisfaction Report, Kenyans are preferring to carry out money movements through mobile phones as compared to other years.
In 2022, the rate percentage was 67.8 percent; what has now moved up to 69.9 in 2023 into 2024; an indication that this may rise even more by the end of 2024.
The reason this increment is being recorded is because most millennia now adopt doing anything through their mobile or digital platforms.
“The digital channel has become increasingly important in the banking industry, with mobile banking being the most preferred channel among customers,” partly read the findings.
Technology has continued to shape customer expectations making customer experience one of the most dynamic functions in many areas.
“From the findings, preference for digital banking channels continues to grow, with more customers saying they would rather use automated banking services than physically visit a bank branch,” Habil Olaka the Chief Executive Officer at KBA remarked.
Other banking channels preferred by customers include online banking at 24.6 per cent, bank branches at 19.6 per cent, ATMs at 17.7 per cent, and card payments at 7.1 per cent.
Other channels include bank agents at 6.9 per cent and cash deposit machines at 2.8 per cent. However, the report highlighted that cash deposit machines were the least favoured due to their limited penetration.
Moreover, in the report, it was noted that there was a preference among Kenyans for fully automated services over human-assisted ones.
