Financial institutions have been challenged to develop products and services that the public can afford in order to facilitate wealth creation.
Speaking Friday while closing a Jamii Bora Bank member’s forum at Probations hall, Thika town, Moris Githongo, the branch manager observed that banks should exist for the good of the public and therefore have a mandate to provide affordable financial services to their customers.
Githongo told bankers who were present to develop solutions to the myriad of the challenges facing the regional financial sector, which border mainly on accessibility, affordability and financial inclusion.
“It is very crucial for financial institutions to develop competitive strategies that respond to customers’ needs and demands,” he said.
Githongo said the conference had helped their customers to take stock of emerging business strategies and appreciate the transformational effect of modern communication technologies in the facilitation of Financial Products and Services
He noted that successful financial products and services should be designed to meet the customer’s wants for efficiency, accountability and affordability.
It is estimated that there are over 100 banks and financial institutions operating in the East African region, including South Sudan, with over 300 branch networks.
Agnes Kago, a member, thanked the forum organisers for the better services the bank is offering to its clients.