THE FUSE

Digital banking in East Africa is no longer about moving branch services onto mobile phones. More than 90% of retail transactions at Kenya’s tier-1 lenders now happen outside branches, leaving physical outlets largely as a backstop. Even with KES 2.16 trillion ($16.7 billion) in assets and KES 75.5 billion ($580 million) in annual net earnings, the region’s biggest banks face bigger changes in how customers move and manage money.