Maisha Microfinance Bank is the country’s 2019 Best Microfinance Bank in Product Innovation; according to Think Business.
The bank was feted in this year’s Think Business Banking Awards gala held at the Mövenpick Hotel on 17th May.
Indicative of its growth, it’s worth to note that the bank bagged the Fastest Growing Microfinance Bank (Second Runner-Up) in 2018 Think Business Banking Awards.
“In today’s fast-paced business world, we have seen technology and innovation transform banking, however, the race will not be won by merely having the channel, but by differentiating it with unique efficiency”, Mr. Ireneus Gichana, Maisha Microfinance Bank CEO said as he received this year’s honor.
Banking has progressed from over the counter transactions, to brick and mortar branch expansions to the introduction of ATM machines and debit cards. The advent of Internet Banking and now mobile banking has significantly raised the bar. Now a number of banks own a mobile banking app that promises convenience at the touch of a button.
For Maisha Microfinance Bank, technology has greatly facilitated the deepened penetration within the unbanked sector of the economy.
“We have strived to be at the forefront of this digital revolution through designing innovative products that meet our customers’ needs,” explained Mr. Gichana.
Among the bank’s virtual products recognized at the Think Business Banking Awards were M-Doh, Maisha’s mobile banking platform, and M-Fanisi, a ground-breaking mobile-based bank account available to Airtel Money registered customers across the country.
But it has not been an overnight success. Pegged on four core values; Customer Focus, Innovation, Efficiency and Integrity, Maisha Microfinance Bank’s vision is to empower enterprises and communities for life by providing financial solutions that meet customer needs.
Since inception just three years ago, it has issued in excess of Ksh 1.3 billion in loans to micro clients besides being the home to at least 170,000 customers. The bank is currently pursuing a robust growth agenda to bridge the financial inclusion gap in Kenya and increase its market share.