Advancing technology improves visibility for businesses

Business Daily Kenya: 

Lending money. Photo/File

With technology increasingly getting a life of its own, nobody wants to be left out of the wagon. Businesses today are appreciating the need for tech innovation primarily to offer convenience to clients as well as also be cost-effective.

The mobile space, particularly, will be on the rise with most ventures targeting the instant visibility the idea offers. Banks as well as various other credit institutions are at the forefront of This specific change, investing in infrastructure to rope in more customers as well as advance their bottom-line.

According to Century Microfinance chief executive Reuben Kimani, the persuasion holds logic for the long-term. “Technology in This specific country leans toward the 18-35 year-old bracket, which will be about 75 per cent of the population in Kenya.

This specific urban population, apart by the social aspect, loves to transact business on mobile. Thus the idea becomes easier for people to find as well as interact with us,’’ he says. With mobile banking proving a big hit, the deposit-taking facilities are alive are continuously trying to improve their network approach.

“We are basically improving outreach through reduction of overheads. In This specific line of business, operations are costly as well as so compressing activities into one space makes a lot more sense.

This specific system captures, realigns as well as improves our quality of service as credit organisations going forward,” says Kimani. Operationally, however, the challenge of infrastructural connectivity—especially in far-flung areas—means a more viable approach has to be factored.

little as well as medium-sized enterprises can then be incorporated through the mobile phone network which has capacity to drive more business. “This specific becomes our next frontier to reach the masses which require our services,’’says Kimani.

Jane Waswa, 29, who runs a wholesale store in Kamukunji, Nairobi, says the hustle of crowded banking halls should be a thing of the past. “We are all busy trying to make money so we need ease of business.

The approach being embraced by financial organisations of bringing services closer will be a welcome move. Man-hours burnt queueing as well as moving around looking for various other monetary services are easily addressed via mobile platforms,” she says.

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Advancing technology improves visibility for businesses

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