Equity Bank goes it alone as regional grid project stalls
The EAC Talking ATMs project was meant to lower the cost of cross-border banking transactions, boost trade, investments and cushion regional banking customers from expensive international card payments platforms as part of a broader regional financial integration plan. PHOTO | FILE
Efforts by East African states towards financial integration has suffered another setback after the failed implementation of a mega project seeking to interlink the automated teller machines (ATMs) of the region’s commercial banks.
This has prompted regional lenders such as Equity Bank to go it alone. Equity is now reaching out for partnerships with foreign fintech firms to allow access to its ATMs by other bank customers in Uganda and the Democratic Republic of Congo (DRC).
