November 21st 2017

Business / News

Equity Bank rated most socially devoted financial brand in Kenya

The Bank continues to invest heavily in social and digital platforms in a bid to reach out to its targeted audience and meet business objectives in different locations given its presence in six African countries and a wide network of branches.

By Joshua Mwangangijmwangangi@kenyafreepress.comTuesday, 25 Apr 2017 11:22 EAT

Equity Group CEO, Dr James Mwangi.

Equity Bank has been recognized as the world’s fifth most socially devoted financial brand and the best in Kenya. This is according to the latest Q4 2016 rankings released by Socialbankers, the world’s leading social media analytics provider.

The report indicates that Equity Bank got a 77 percent total response rate on Twitter and a 98 percent total response rate on Facebook. It also points out that it had an accumulated response time of 215 minutes across Facebook and Twitter platforms.

Commenting on the award, Equity Group CEO, Dr James Mwangi, said that the bank is greatly honoured to receive such recognition as it reinforces its efforts in transforming the customers’ journey on how they access banking services. He re-emphasized that socially devoted brands get 3.5 times more interactions than their less responsive counterparts.

“Social Media has grown from being a mere digital channel for “socializing” to one of the most powerful digital marketing tools for brands. It has also proven to be a very cost-effective way of communicating to a global audience,” said Dr Mwangi.

”Social Media networks have the potential of empowering especially the youth, by enhancing their access to information on financial services and products. We have seen an increase in our social media engagement where more and more customers are realizing that they can effectively communicate with us through social media and expect timely feedback, he added.

Late last year, Equity Bank launched its Eazzy Banking suite of digital products, solutions aimed at offering customers easy and comprehensive banking experiences. The suite of products consists of 7 different services that allow the customers to pay for bills, goods and services; apply for instant loans; manage chama/group account transactions; corporates to manage cash and liquidity and so much more.

Eazzy Banking App is one of the only few apps in the world and certainly the only one in Kenya with integration to WhatsApp, Facebook and Twitter having the ability to send money using these platforms. This was informed by the fact that more people are using Facebook, Twitter, You-tube and Instagram to research and buy products and services.

The bank continues to invest heavily in social and digital platforms in a bid to reach out to its targeted audience and meet business objectives in different locations given its presence in six African countries and a wide network of branches. The bank understands the shift in customer care and is of the belief that the most responsive and dynamic audiences are on social media.

In 2015, Equity Bank was recognized when it won Social Media Awards (SOMA) trophy for Financial Services under the Social Corporate Category. The SOMA Awards are used as a platform to celebrate individuals and corporate institutions which have contributed towards improvement of lives through good use of various social media platforms.

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