NAIROBI, March 12 (Xinhua) -- Kenyan regional lender, I&M Bank, said on Saturday that it will develop digital products in order to tap into the Chinese community residing in East Africa.
Wang Binbin, the senior relationship manager of Chinese desk at I&M Bank told a forum in Nairobi, the Kenyan capital that it will make huge investments in financial technology (fintech) products that will automate all banking processes for its Chinese clients.
"We are focusing on mobile and internet applications that will improve service delivery to the Chinese community in East Africa," Wang said during the Kenya law popularization seminar hosted for the Chinese community.
The bank operates in Kenya, Tanzania, Uganda, Rwanda, and Mauritius.
Wang said that the Chinese community in East Africa is growing, fueled by increasing Sino-Africa relations across diverse spheres including trade, culture, education, health and infrastructure development. "Most Chinese already undertake their banking activities on their mobile phones back in China and therefore they will expect similar services in East Africa," Wang added.
Kihara Maina, CEO of I&M Bank Kenya said that the bank's Chinese desk strongly focuses on the manufacturing, real estate, and construction sectors. "We are committed to supporting the financial needs of the Chinese firms through a robust mobile and internet banking platform," said Maina. ■